Tuesday, 5 May 2015
Last updated 14 min ago
Jul 29 2008 | 9:14am ET
A division of Japan’s biggest bank is planning a fund of hedge funds, focusing on managers who thrive when the going gets tough.
Mitsubishi Asset Brains Co.—which is owned in part by Mitsubishi UFJ Financial Group—hopes to begin advising a fund of funds within the next two or three years, Akihiro Nishi, executive director of its investment advisory division, told Bloomberg News. The fund will seek out managers who perform well in falling markets, and will invest in both Japanese and offshore funds, including those in the U.S.
MAB is designing the fund for high net-worth individuals, Nishi said.
“We’re looking at fund managers with high investment skills, especially at boutique firms, for the fund of hedge funds,” Nishi told Bloomberg. “When the overall market is bad, some hedge funds tend to stand out in the crowd.”
He added that the firm had hired a hedge fund manager, who starts next month.
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…