Tuesday, 31 March 2015
Last updated 3 hours ago
Aug 31 2009 | 1:09pm ET
A new Japanese hedge fund founded by a pair of UBS veterans is off to a flying start.
Akito Capital’s eponymous hedge fund is up 14%, just over a month since its launch. The market-neutral offering could be doing even better: According to firm founder Koichiro Yamaguchi, in simulated trading since Akito Capital’s March founding, the fund is up 30%.
The firm’s early success is due to its bets on smaller companies, including DVD and CD store chain Geo Corp. and automotive parts retailer Yellow Hat, Bloomberg News reports.
“Mid- to small-cap stocks tend to have less consensus views, so there are more opportunities to invest in surprises.”
Yamaguchi, who previously worked as a hedge fund manager at Horizon Asset International, said the fund, which launched on July 24 with ¥1.4 billion (US$15 million), said the fund invests in between 100 and 200 names after performing fundamental analysis on a universe of about 500 Japanese companies. Akito hedges with index futures and options.
Akito should grow to about ¥1.9 billion (US$20.4 million) by next month, according to Yamaguchi, who founded the firm alongside fellow UBS Securities Japan veteran Tetsuya Hamano. The fund’s strategy has a ¥30 billion (US$322.8 million) capacity.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…