Tuesday, 5 May 2015
Last updated 2 hours ago
Jun 12 2014 | 10:57am ET
Japan’s Fivestar Asset Management will launch a dollar-denominated hedge fund focused on the country, seeking to tap growing interest from overseas investors.
The new fund will employ the same strategy as Fiverstar’s two-month-old Shinbi Japan Equity Long Short Fund, Bloomberg News reports. That fund, which is denominated in yen, debuted at the end of March and has been roughly flat since then.
Between the dollar- and yen-denominated versions of the strategy, Fivestar hopes to raise about ¥10 billion (US$100 million) over the next year.
“Since the rally in June last year, the positive factors surrounding the Japanese stock market have become clear,” fund manager Masamitsu Ohki told Bloomberg. “The future of Japan’s stock market will depend on foreigners,” who have poured back into the country since the election of Prime Minister Shinzo Abe.
Ohki’s fund holds up to 150 long positions and between 50 and 100 short positions. The strategy is designed to return 20% per year.
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…