Tuesday, 26 May 2015
Last updated 26 min ago
Oct 8 2010 | 10:46am ET
Hedge fund Vivace Capital Management is eyeing local Japanese pension funds as it aims to boost its assets under management.
The Tokyo-based firm said it plans to double the number of its pension fund clients to 10 and the assets it manages on behalf of such schemes to ¥50 billion. Vivace currently manages ¥15.5 billion for four pension funds, and is adding ¥1 billion from a fifth this month.
"Japanese asset-management firms are focusing on pension clients now since their portfolios have been hard hit from the declines in Japanese stocks," Takeshi Ueno, president, told Bloomberg News. "For us to survive, we realized that we need to shift gears to focus on a growing market after realizing our hedge funds weren't quite capturing their needs."
Instead, Vivace will offer tailored separate accounts to pensions, hoping to offer 5% in addition returns.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…