Thursday, 2 October 2014
Last updated 13 hours ago
Nov 9 2011 | 11:27am ET
Day traders don't boast a useful track record when they graduate to become hedge fund managers. But a pair of former Japanese day traders are quickly building one at their new hedge fund.
Kyosuke Shirasaki and Masato Tanaka, 28-year-old friends from their university days, founded Harpstar Partners and launched their maiden hedge fund at the end of July. Since then, the fund, which debuted with ¥2 billion (US$26 million), is up 20%, Bloomberg News reports.
That return is even more impressive considered against the backdrop of overall hedge fund performance in the third quarter, especially in hard-hit Asia.
Harpstar invests exclusively in Nikkei 225 options, using futures to hedge its exposure. That strategy has paid off thanks to market volatility, up almost 50% in Japan this year. Shirasaki and Tanaka are targeting 50% annual returns.
Harpstar has already boosted its assets to ¥3.2 billion, both through performance and through fundraising. Shirasaki and Tanaka now aim to raise ¥5 billion over the next year.
"Our challenge is that we have no track record at major institutions, so we have to prove our worth to investors with our performance," Shirasaki said. "On the other hand, our experience as day traders means we trade quite frequently to capture the best investment opportunities."
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...