Friday, 27 March 2015
Last updated 2 hours ago
Nov 28 2012 | 1:05am ET
Tokyo-based hedge fund Edgebell Capital Co. plans to relaunch its global macro strategy in the wake of new Japanese regulations.
Edgebell is the first firm to win a discretionary investment management license from Japanese regulators. Approval in hand—it was received on Nov. 20—the firm, set up by former bankers from Goldman Sachs and Mizuho Corporate Bank—will launch a Cayman Islands-domiciled version of its global macro fund in February.
Edgebell liquidated its Global Macro Strategy in March, after deciding to seek the new license. The fund returned 2% in its 11 months of trading, Bloomberg News reports.
Where the old fund debuted with between ¥1 billion and ¥2 billion, the new fund is expected to garner ¥5 billion in its first year.
Japan in April relaxed its tough hedge fund rules. The new regulations reduce minimum capital requirements and minimum staffing requirements.
"The hurdle to entry has been lowered and we really hope that this will start creating a trend where hedge funds will set up shops in Japan," Edgebell co-founder Kazuho Suzuki told Bloomberg. "I'm hoping for a revival and regain in confidence for the current Japanese fund industry."
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…