Hawaiian Shop Seeks Assets For New Japanese Long-Biased Fund

Nov 9 2007 | 10:42am ET

Hawaii-based Bellamy Fund Management is looking east to find alpha. The Honolulu firm has launched the Samurai Fund, a long-biased Japanese equity hedge fund, with Tokyo-based Rise Asset Management serving as the fund’s investment adviser.

The fund will invest in publicly-listed, mid- to large-cap Japanese companies, as well as shorting names “that are misrepresented by the market and are trading at a discount/premium to their inherent value,” according to fund documents.

Typically, the fund’s portfolio will consist of 30 to 50 long positions and up to five shorts, and will use limited leverage. The gross position will range from -20% to 150% with an anticipated net exposure of 80% to 90%. Its benchmark is the TOPIX, which tracks the Tokyo Stock Exchange.

The fund is currently long basic chemicals, electronic materials, media and industrial metals sectors, with one short position in the consumer electronics sector.

Samurai, which debuted on Sept. 3, is up 14.7% in its first two months. Firm founder Jason Bellamy is in Hong Kong this week for the Merrill Lynch capital introduction conference, trying to raise more money for the fund, which currently manages less than $1 million. “The performance has been stellar, but we need to get more funds to be treated seriously,” he said.

The Samurai Fund charges a 1.5% management fee and a 20% incentive fee per annum.

Prior to founding the eponymous firm last year, Bellamy served as chief compliance officer for Myojo Asset Management handling compliance, trading and marketing for the firm’s Japanese long/short funds.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.