Millennium Vet Iwami Rolls Out Macro Hedge Fund

Nov 18 2013 | 2:34pm ET

A former Millennium Management trader has launched a new hedge fund in his native Japan.

Naoki Iwami's Whiz Partners unveiled its maiden fund in August with about US$150 million. Iwami, who served as a managing director at Millennium in Tokyo, where Whiz is based, hopes to triple that number by the end of March, Bloomberg News reports.

The Whiz Rock Global Macro Investment Fund is up 1% during its first few months, besting many of its peers but underperforming due to a lack of clear direction in the markets, Iwami told Bloomberg. "Bow is the time to persevere given the lack of big trends in the market," the JPMorgan Chase and Nomura Asset Management alumnus said.

Despite the small gain, Iwami said that Japanese institutional investors are beginning to notice the nascent fund.

"We didn't expect that money would come easy given how we're a boutique firm," he told Bloomberg. "We've been asked to continue delivering performance to win their allocation."


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...