Veteran Japan Traders Launch Hedge Fund

Sep 1 2010 | 12:23pm ET

Two former Mizuho Securities proprietary traders and Japan hedge fund veterans have launched a hedge fund of their own.

Einoshin Arima and Giselle Leung have founded Hong Kong-based Areion Asset Management and launched their debut hedge fund today with US$120 million. The Hareion Fund will invest in between 70 and 100 Japanese stocks, employing both long/short and event-driven strategies, Bloomberg News reports. Between 5% and 10% of the fund will be invested in the rest of Asia or in futures and options hedging.

“I don’t believe that Japan is going to be written off forever going forward,” Arima told Bloomberg. “We view this as a good time for us to start the fund.”

Hareion, which is targeting annual returns of about 20%, will remain closed to new investment for the time being as it builds up a track record. It has a capacity of US$300 million.

Arima and Leung moved to hedge fund GO-TO-ASIA after leaving Mizuho, managing its GTA Atomic Fund. But despite strong returns—80% since its debut in December 2006—the fund was shuttered in May.

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