Sparx Suffers Second-Straight Annual Loss

May 15 2012 | 12:35pm ET

One of Asia's largest hedge funds saw its fiscal year loss grow by almost 23% on lower revenues and fee income.

Sparx Group, once the region's largest hedge fund but now only its second-largest, said its annual loss was ¥4.54 billion (US$57 million) for the year-ended March 31. It is Tokyo-based Sparx's second-straight annual loss; the firm took a ¥3.7 billion in the prior fiscal year.

Sparx's revenue dropped 37% to ¥4.49 billion as assets under management fell 20% to ¥535.4 billion and performance fees plummeted 78% to ¥454 million. Management fees dropped 21% to ¥3.8 billion.

The loss is especially disheartening amidst Sparx CEO Shuhei Abe's cost-cutting measures, which have included layoffs.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.