Thursday, 3 September 2015
Last updated 13 hours ago
Sep 1 2009 | 1:32pm ET
The troubled Sparx Group, Asia’s largest hedge fund manager, is looking to one of the most successful hedge fund investors ever to help it turn around.
The Tokyo-based firm has launched a fund utilizing a strategy similar to that of George Soros’ Quantum Fund. The new global macro vehicle, Sparx’s first, is the first of several new products that Sparx plans to offer in the wake of its first-ever annual loss.
The Sparx Global Markets Fund debuted on Aug. 12 with ¥900 million in proprietary capital, Bloomberg News reports. The firm is planning to open the fund, which has a capacity of between ¥50 billion and ¥100 to outside investors, in particular domestic institutional investors.
“In the wake of the global market crisis, we must expand our investment domain to meet the needs of our clients,” Masaki Taniguchi, president of Sparx Asset Management, said. “In order to do that, getting into a strategy that has less competition makes sense to take up market share in that strategy.”
May 27 2015 | 2:15pm ET
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