Monday, 30 March 2015
Last updated 2 days 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."
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…