Wednesday, 24 August 2016
Last updated 16 min ago
Oct 14 2011 | 8:27am ET
T&D Asset Management, an arm of the Japanese insurer T&D Holdings, has closed the $27 billion Japan-focused hedge fund it launched in 2010.
The T&D Japanese Equity Long&Short Fund, which launched with about $9.1 million in June of last year, was closed in September due to higher-than-expected trading costs, reports Bloomberg, citing “four people familiar with the matter.”
The sources said costs related to executing stock trades resulted in a negative performance for the fund.
Susumu Tominaga and Kazuko Yuzaki, who left Tokyo-based hedge fund research firm Yunzei Investment Research to oversee the T&D fund, have both left the company.