Morgan Stanley Vet’s Japan Hedge Fund Up 18%

Apr 24 2014 | 10:22am ET

Hedge fund Galleyla Investment Co. got off to a strong start, returning 18% in its first year.

The Japan-focused firm was founded by former Morgan Stanley Asset & Investment Trust Management fund manager Tsukasa Shimoda. It launched last April.

By contrast, the average Japanese hedge fund returned just 2.7% over the same period.

“Abenomics ended at the end of last year and the stock market is now reversing,” Shimoda told Bloomberg News. “The market will bottom in May or June and will resume its bullish run as the yen weakens on the back of Abe’s policies of [the Bank of Japan’s] additional monetary easing.”

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