Sunday, 21 December 2014
Last updated 1 day ago
May 16 2011 | 12:56pm ET
Asia’s number-two hedge fund, the Tokyo-based Sparx Group, posted a loss of 3.7 billion yen ($46 million) for the year ended March 31, with fee income down 19% year on year at 4.9 billion yen.
A year earlier, the fund posted a 398-million-yen profit. Revenue fell 10% year on year to 7.1 billion yen and assets have tumbled by more than half since peaking at 2 trillion yen in 2006, the company said in a statement Friday.
President Shuhei Abe is looking to serve a market beyond Japan—planning new funds and expanding the company’s presence in Hong Kong.
Sparx Group shares have slipped 3% this year and fell 2.6% to 8,880 yen on Tokyo’s Jasdaq on Friday prior to the earnings news.
Bloomberg reports that Abe plans to start a long-short fund to invest in Asian companies best placed to benefit from fast-growing world economies.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.