Fivestar Readies Dollar-Denominated Japan Stock Fund

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.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of