Wednesday, 1 October 2014
Last updated 21 min ago
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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...