Tuesday, 23 September 2014
Last updated 11 hours ago
Jun 20 2011 | 12:03pm ET
One of Asia's biggest hedge funds plans to lend a profitable helping hand to Japan's earthquake- and tsunami-stricken north.
Sparx Group will launch a real estate fund next month that will focus on reconstruction efforts in the Tōhoku region, CEO Shuhei Abe told the Reuters Rebuilding Japan Summit today. The fund will debut with between US$5 million and US$10 million, but Abe said he hopes to raise up to US$100 million.
The reconstruction fund will invest in temporary hotel builders working to house the more than 100,000 people Abe says remain homeless.
"People need houses and need storage space and those are not supplied," he explained. "That situation should continue for a while." Abe noted that while the fund would provide much-needed capital for the reconstruction efforts, it could also turn a tidy double-digit return.
The March 11 earthquake triggered a massive tsunami and several major aftershocks, killing more than 15,000 people and leaving more than 7,000 injured. It also set off a catastrophic crisis at a nuclear power plant, which is still ongoing.
Abe also told the conference that Spark expects to begin offering mutual funds in South Korea by the end of this year or early next year, and that the US$8.2 billion firm hopes to boost assets to about US$9.5 billion over the next 12 months.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.