Sumitomo Cuts Japan Hedge Fund

Jan 25 2011 | 8:49pm ET

Sumitomo Trust & Banking Co. has shuttered a US$50 million hedge fund.

The firm’s asset management arm, Sumitomo Trust Finance, liquidated the Tactical Equity Concepts Japan on Dec. 20. The fund, which was launched in June 2009, lost 10% last year.

Sumitomo launched the fund with US$100 million.

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