London Firm Closes Japanese Convertible Bond Fund

Apr 16 2009 | 1:22am ET

Another Asia-focused hedge fund has bit the dust. London-based Stratton Street Capital has closed its Dejima Fund, which had seen almost 99% of its assets disappear due to poor performance and investor redemptions.

Stratton Street shuttered the fund at the end of February, Dow Jones Newswires reports. The firm, which focuses on investments in Asia, transferred the fund’s remaining assets—it had fallen to just US$1.1 million from a peak of about US$90 million—to another of its funds, the Japan Synthetic Warrant Fund.

“Assets in the fund became relatively too small to make it commercially viable,” Stratton Street managing partner Andrew Main told Dow Jones. “As you can imagine, geared long Japan over the last few years wasn’t necessarily the best place to be invested.”

Dejima, which launched in 1998, invested in options on Japanese convertible bonds.


In Depth

Q&A: Jeff Eaton Talks Capital Raising, CalPERS And The Secondaries Market

Oct 14 2014 | 10:16am ET

Global placement agent Eaton Partners has raised close to $60 billion for some of...

Lifestyle

MacDonald-Korth Offers Insights Into Paintings Bought, Sold By Hedgies

Oct 7 2014 | 9:00am ET

Definitive and complete ratings require an in-person examination of an artwork,...

Guest Contributor

PAAMCO: European Equity Exposure - Challenging Year, But All is Not Lost

Oct 16 2014 | 4:12am ET

European equity hedge fund managers have had a tough time so far this year. The...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    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…

 

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.