Tuesday, 25 November 2014
Last updated 52 min 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.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...