Japanese Hedge Fund Preps Tech.-Focused Offering

Feb 5 2009 | 12:28am ET

Hedge fund shop Myojo Asset Management Japan has high hopes that high technology can bring it back from the brink.

The firm, which saw 86% of its assets under management evaporate last year, is readying a new hedge fund to invest in global technology stocks, Bloomberg News reports, Myojo’s third fund. The long/short fund will debut on March 1 with “several hundreds of millions of yen,” according to fund manager Noriya Nishi, with plans to raise some ¥50 billion (US$560 million) over the next three to four years.

The Myojo Super Cycle Fund begin investing in 55 Japanese technology-related stocks and 25 companies outside of the country, with at least 80% of the fund’s assets in Japanese stocks. Nishi said he is targeting annual returns of 12% to 18%; the fund returned 18% in simulated trading between February 2008 and the end of the year, Myojo said in marketing documents.

“It’s difficult to base your bets on fundamentals given the deteriorating environment in the tech industry, so your focus will be on the short bets, while long bets will be traded based on short-term trades,” Nishi told Bloomberg.


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

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

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

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.