Friday, 29 August 2014
Last updated 10 hours 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...