Hedge Funds Club
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Wake up and smell the coffee!
Japan-related hedge fund industry news.
Japan-related hedge fund industry news.
28 Jul 2010
Superfund has launched the Superfund Blue Japan fund, a systematic market neutral equities fund
for Japanese retail investors.
People are hiring again! The last few weeks have seen a number of hedge funds, securities firms,
fund placement agents and other players in the alternative investment space starting to look for new
Tokyo-based recruits.
16 Jul 2010
Chie Furui has left her IR position at Japanese hedge fund manager Epic Partners.
13 Jul 2010
Hong Kong-based Value Partners, with US$5.7bn in AUM, is now the biggest hedge fund
management firm in Asia according to Asia Hedge Fund 25, Institutional Investor’s ranking of the
largest Asia-based hedge fund managers. As of 1 April, the firms in the Asia Hedge Fund 25
managed a combined US$36.1bn. Tokyo-based Sparx Group was number two on the list while
Singapore-based Arisaig Partners was number three, Beijing-based Hillhouse Capital Management
number four and Tokyo-based Bayview Asset Management came in fifth.
9 Jul 2010
Kyoko Uchida has left investment consulting firm AMC in Tokyo.
6 Jul 2010
Tan Maruyama (ex-prop trader at Goldman Sachs), founder of Round Rock Capital Advisors in
Tokyo, launched the R-Squared Master Fund, a new Japan-focused multi-strategy hedge fund, a few
months ago.
5 Jul 2010
Ed Rogers of Rogers Investment Advisors in Tokyo has won a US$90m mandate from a Japanese
investor that will be invested in the firm’s Wolver Hill Japan Multi-Strategy Fund. Ed has also recently
added another staff member, Michaela Gifford, to his expanding business.
1 Jul 2010
Cosmo Investment Management, the South Korean form partly owned by Japan’s Sparx Group, has
hired S. Hahn Sull (ex-Oojoo Capital Partners in Singapore) as CEO. He replaces Kevin Choi,
Cosmo's founder, who left the firm in June. Cosmo has also promoted Min-Key Seo to CIO.
25 Jun 2010
Japanese hedge fund manager Funnex Asset Management in Tokyo has hired Xiao Minjie (ex-Daiwa
Institute of Research in China) as the firm’s new president.
11 Jun 2010
Millennium Management, the US-headquartered US$7.3 billion hedge fund manager, has appointed
Kunho Cho (ex-Lehman Brothers) as chairman for its Asian business. Millennium employs about 70
staff in Asia spread across Tokyo, Hong Kong, Singapore and Beijing.
10 Jun 2010
The Alithion Japan Fund will be launched on 1 July with seed money from Marubeni in Tokyo. Akira
Yaku, Kentaro Ishizaki and Kai Hoshino (all ex-Mizuho) are the brains behind the new Japan fund
which will be run from Singapore by Alithion Capital Management.
Orix Investment Corporation and GCI Asset Management have launched the Orix Commodities Fund
with Atsuhito Mori as its chief trader.
2 Jun 2010
Mitsuo Ohmi left Japan Advisory this week "to pursue a more rewarding lifestyle which I intend to
enjoy for at least the next several years". Gone fishing? Writing a book? Who knows...
26 May 2010
Epic Partners Investments' Prowess of Japan Fund has won the Best Japan Hedge Fund at the
Eurekahedge Asian Hedge Fund Awards 2010.
19 May 2010
On 1 June T&D Asset Management is launching the T&D Japanese Equity Long Short Fund which will
be managed by Susumu Tominaga and Kazuko Yuzaki (both ex-Yunzei).
17 May 2010
Sparx, Asia's largest hedge fund manager, has returned to profit. Publicly listed Sparx made a profit
of JPY398 million in the year that ended 31 March, following last year's loss. In the past year, Sparx
has aggressively cut costs and also launched new products. Firm AUM is now at JPY686 billion.
14 May 2010
Bayview Asset Management has hired Ichiro Takamatsu, Masamatsu Ohki and Sanae Saga from
Alphex Investments. Alphex will be shut down and Bayview will take over some of the assets.
13 May 2010
Japanese hedge funds, who were the world’s worst performers in 2009, returned 6.7% in the first four
months of 2010. This is the best year-to-April return in six years, according to Eurekahedge.
7 May 2010
The average size of hedge fund launches in Asia in 2009 was US$40m, down from US$80m in 2007,
according to GFIA’s Peter Douglas. 70% of the hedge funds launched in Asia in 2008 and 2009 had
US$50m or less in AUM as of 31 March, 2010.
Fortress, who closed its Hong Kong office last June, has opened a new office in Singapore. It has
also kept its trading office in Tokyo open.
5 May 2010
After a four-year stint at Sumitomo Mitsui Asset Management (SMAM), Jiro Shimpo now returns to
Sumitomo Life Insurance to assume similar responsibilities in alternative investments.
29 Apr 2010
Cadogan Management is understood to be closing its Kurihama Japan fund of hedge funds due to
poor performance.
23 Apr 2010
Japan is expected to continue restricting naked short selling and require investors to disclose short-
sale positions until July 31.
Yoji Koga, legendary head of prime brokerage at both Credit Suisse and Morgan Stanley in Tokyo, is
retiring from the industry just in time for the Golden Week holidays. Golf anyone?
22 Apr 2010
The AsianInvestor 2010 Investment Performance Awards hedge fund winners have been announced.
They include CAI Global Fund (Asia-Pacific), ROCIM Asia Opportunity Fund (Asia ex-Japan), Prowess
of Japan (Japan), Trophy LV (long/short equity), Phalanx Japan-AustralAsia Multi-Strategy Fund
(multi-strategy), Vegasoul Fund (CTA/managed futures), 3DPropCo (distressed/special situations),
Richland Emerging Opportunities Fund (event driven), Ocean Capital China Macro Fund (macro), Brim
Asian Credit Fund (new launch), Dynamic Equity Partners (India), Galaxy China Deep Value Fund
(Greater China) and Centar Investment Group Asia (fixed income/credit).
19 Apr 2010
Japan Alternative Investment Co, a subsidiary of Mitsui & Co, has shut down its fund of hedge funds.
The firm has decided to focus its efforts on its core business as a distributor of funds.
15 Apr 2010
Things are picking up and people are hiring again. Mizuho Global Alternative Investments, a new
subsidiary of Mizuho Corporate Bank, is looking to add investment professionals to its alternative
investments team and Shinsei Investment Management is understood to be looking for marketing
people. And several of the securities exchanges look to hire marketing people for the Japanese
market.
The annual Risk Japan conference will take place on 22 June this year. Tokyo Hedge Funds Club's
Stefan Nilsson will moderate a panel discussion on hedge fund risk management at the event.
8 Apr 2010
BFC Asset Management has plans to hire three more people to its growing alternative investments
business. The three additional hires will take the head count in the Tokyo office to 21. BFC is
currently looking to hire in manager research/due diligence, compliance and investor relations.
7 Apr 2010
According to research by the Tokyo Hedge Funds Club and several industry estimates, Japanese
corporate pension funds now have an average allocation to hedge funds of around 10%. Japanese
pension funds tend to invest with large, well-known global hedge fund managers. Fund managers
with less than US$500 million in AUM are unlikely to be considered for investments in most cases.
The current trend is also for them to invest direct with single managers rather than through fund of
funds which earlier often was the case. While many pension funds are likely to keep some fund of
funds investments, most new mandates are for single manager allocations. There is also an
increased demand in Japan for pension fund consultants to provide more and better research on
singe manager strategies.
6 Apr 2010
Noriyuki Kawana’s BFC Asset Management in Tokyo is planning to launch a global equity long/short-
focused fund of funds on June 1. The underlying investors are all Japanese pension funds.
4 Apr 2010
Top 10 Asian fund launches in 2009
1. ChinaRock Capital, Multi-Strategy, Sep-09, $400m
2. Senrigan Asia, Event-Driven, Nov-09, $220m
3. Prudence Enhanced Income Fund, Fixed Income, Jan-09, $150m
4. PK Japan, Long Short Equity, Oct-09, $212m
5. Dymon Asia Macro Fund, Macro, Aug-09, $125m
6. Temujin Model Portfolio, Multi-Strategy, Jan-09, $125m
7. Karakoram Fund Ltd, Long/Short Equity, Jul-09, $124m
8. Sumitomo Tactical Equity Concepts Japan Fund, Long Short Equity, Jun-09, $108m
9. Tactical Equity Concepts - Japan Fund, Long/Short Equity, Jun-09, $106m
10. Henderson Asia Pacific INC Absolute Return Fund, Long Short Equity, Jul-09, $103m
23 Mar 2010
Russell Investments is currently trying to recruit a head of alternative investments for Japan. The
person appointed to this new role will be in charge of making recommendations to Japanese pension
funds on allocations to alternative investments.
22 Mar 2010
Shin Kubo, a former Asian head of research at Russell Investment Group, has been appointed CIO
of Mizuho Global Alternative Investments, a newly formed subsidiary of Mizuho Corporate Bank which
will focus on distributing global hedge funds to Japanese institutional investors and may also launch
its own Asia-focused fund of funds.
17 Mar 2010
The Eurekahedge Japan Hedge Fund Index returned an estimated -0.14% in February and +0.84%
YTD.
8 Mar 2010
DE Shaw is understood to be opening offices in Shanghai and Tokyo in the coming months.
24 Feb 2010
Itochu Corporation is shutting down ACAM Advisors, its US$500 million New York-based FoF business.
Hedge fund manager Indus Capital, with US$3.3 billion in AUM, has launched the Indus Japan Long
Only Fund.
Atlantic Investment, with US$1.5 billion in AUM, has launched Pannotia, a new Asia fund with a China
bias. Ken Yamada, Atlantic’s New York-based Asia research chief, manages the strategy and is
assisted by analysts Celia Huey and Allan Chang in Tokyo.
22 Feb 2010
New York-based Aristarc Capital is launching a Japan equity market neutral fund to be managed by
Michael Feldschuh (ex-FrontPoint Partners, Millennium Partners, DE Shaw, Morgan Stanley).
Singapore-based MAM, a Japanese family office, has set up its own internal proprietary Japan-
focused hedge fund.
Tan Maruyama (ex-prop trader at Goldman Sachs and Merrill Lynch) has set up Round Rock Capital
Advisors in Tokyo in order to manage a Japan-focused multi-strategy fund focused on CB arbitrage,
credit and equity long/short.Maruyama-san is joined at the new firm by Toshitaka Itoshima, Satoshi
Kamata and Shuhei Komatsu.
Hedge fund veteran Makoto Haga passed away on Friday 19 February at the age of 46 following a
heart attack. At the time of his death, Haga-san worked at Monex as chief strategist. Haga-san
made his name as the first hedge fund manager at both Nomura and at Sumitomo Trust & Banking.
He was also the founder of Wing Asset Management.
17 Feb 2010
Sean Lenihan has joined TY Advisers as Tokyo Branch Manager and Head of Research. This follows
Toru Ueda's move to TY/Hachiman Capital’s Singapore office. Prior to joining TY, Sean was an
Associate Partner, Lead Portfolio Manager and Head of the Tokyo Japan Equity team at Wellington
Management. Previously, he was Lead Portfolio Manager at Deutsche Trust Bank where he was
directly responsible for managing US$3 billion of Japanese assets.
12 Feb 2010
FletcherBennett Capital, a consulting firm for the hedge fund industry, has appointed Somer Hatano
(ex-Alpha Dialogue Advisors, Morgan Stanley) as director of investor coverage for Japan. Hatano-san
will be based in New York.
5 Feb 2010
Japanese hedge fund manager J-Flag Investment plans to start a new equity long/short hedge fund
that will invest in Japanese small cap stocks.
22 Jan 2010
Today the Japanese FSA announced that the ban on naked short selling and short selling position
reporting requirement will again be extended until the end of April.
20 Jan 2010
Tokyo-headquartered Sparx Asset Management will distribute its hedge funds outside of Japan
through Hong Kong-based Triple A Partners.
9 Jan 2010
Industry veteran Tomo Watanabe has this week set up his own hedge fund services company in
Japan, Synergy Capital Management. Tomo has a long career, including stints at GCI Asset
Management and Asuka Asset Management.
Hachiman Capital’s Toru Ueda is relocating from the firm’s Tokyo-based investment advisor TY
Advisers to Hachiman’s Singapore office.
Tokyo-based Atsuko Tsuchiya (ex-Sparx, Citadel, Merrill Lynch) plans to launch a new Japanese
event-driven fund, the Atom Japan Alpha Fund, in March. Hong Kong-based Penjing Asset
Management is the anchor investor for the new fund. Stan Howard’s Gordian Capital in Singapore will
be the manager of the fund with Atsuko Tsuchiya’s Atom Capital Management as the investment
advisor.
8 Jan 2010
The Futures Industry Association Japan will hold its New Year Reception at the Foreign
Correspondents’ Club of Japan in Tokyo on January 20.
6 Jan 2010
Gartmore will merge its Japan Opportunities fund into its Japan Absolute Return fund, managed by
John Stewart in Tokyo. Mike Gleason, who has been managing the Japan Opportunities fund, will
remain as head of quant strategies.
28 Dec 2009
IQPC will host the 4th Hedge Fund Investments Japan Congress in Tokyo on May 24-25, 2010.
Speakers will include Shuhei Abe (founder of SPARX) and Stefan Nilsson (founder of Tokyo Hedge
Funds Club). For more information, please visit www.hedgefundinvestmentsjapan.com.
19 Dec 2009
Morgan Stanley has appointed Chris Duffy as its head of prime brokerage in Japan.
18 Dec 2009
The Eurekahedge Japan Hedge Fund Index returned an estimated -2.50% in November which brings
the YTD figure to +4.53%.
11 Dec 2009
A story on the Tokyo Hedge Funds Club's year-end party featured in today's Morning Satellite news
programme on TV Tokyo.
10 Dec 2009
More good news! Several major US headquartered hedge fund firms are now in the process of setting
up offices in Tokyo. In some cases these are research and investment offices and in some cases
they are marketing and investor relations offices.
5 Dec 2009
The Sparx Japan Small Cap Fund has returned +26% YTD. The fund is managed by Tadahiro
Fujimura and was launched in 2000. AUM is around US$14m.
4 Dec 2009
London-based Marshall Wace's TOPS Japan Fund, a Japan equity long/short strategy, has returned
+26% YTD. The fund's AUM is around US$250m.
3 Dec 2009
Fred Eechaute (ex-DKR Oasis, Mizuho Securities) and Stephen Good (ex-Mizuho Securities) have this
week launched the Instinct Japan Opportunity Fund, a Japan event-driven strategy. Anita Lam (ex-
DKR Oasis) has also joined the new venture.
1 Dec 2009
Kingdon Capital is believed to have shut down its Tokyo office.
30 Nov 2009
Lyxor Asset Management is considering investing more in Japanese hedge funds in 2010 as it
expects a rebound in the Japanese stock market.
28 Nov 2009
Asia's largest hedge fund manager, Tokyo-based Sparx Group, plans to launch a fund aimed at
investing in Japanese environmental technology firms.
26 Nov 2009
Jun Mihara (ex-Merrill Lynch) is planning to launch an Asian distressed assets fund for Zais Group.
Mihara-san joined Zais last month as CIO. Zais has offices in New Jersey and Tokyo as well as in
other European and Asian locations.
25 Nov 2009
Yoko Mihara has left Ramius Japan to join United Investment Co. as a Senior Vice President of
Marketing.
24 Nov 2009
Hedge fund manager Randall Kahn of Apiana Investments plans to merge his fund with the APS
Pacific Rim hedge funds. He will also join APS as Director of Investments, working with their Asia and
Japan funds and also on new product generation.
19 Nov 2009
Gartmore plans to launch the Gartmore Japan Absolute Return Fund in February. This Ucits III-style
fund is a new vehicle based on the firm's existing AlphaGen Hokuto Japanese equity long/short
strategy managed by John Stewart in Tokyo.
18 Nov 2009
Koji Yoshimoto has transferred back to Orix Investment Corporation from his secondment to Orix
Securities Corporation. Yoshimoto-san has joined the risk management division.
Jesper Koll has left hedge fund manager Tantallon to rejoin J.P. Morgan as Head of Japan equity
research. Prior to joining Tantallon two years ago he was chief Japanese economist at Merrill Lynch.
12 Nov 2009
Japanese hedge fund manager Hachiman Capital is positioning itself for future growth. While the
firm maintains a research office in Tokyo, co-founder and portfolio manager Yashwant Bajaj has
recently relocated from Tokyo to Singapore.
6 Nov 2009
Tetsuo Tanimura, formerly CEO of and co-founder of Tower Investment Management, has set up
C2G Advisors in Tokyo. C2G is a hedge fund consultancy that will help Asian hedge fund managers
with marketing and fundraising. C2G is also considering seeding some new Asian managers.
2 Nov 2009
Upcoming alternative investment events in Tokyo:
* Battle of the Quants (9 Nov)
* Goldman Sachs Hedge Fund Symposium (10-11 Nov)
* Distressed & Troubled Asset Investing Summit (16-17 Nov)
* Hedge Fund Insights (26 Nov)
* BFC Hedge Fund Seminar (30 Nov)
* J.P. Morgan Meet the Managers (Dec 2)
* Tokyo Hedge Funds Club Year-End Party (Dec 3)
Activist hedge fund manager Ichigo Asset Management, led by Scott Callon, has had a good year so
far. Assets under management has grown to more than US$750m, making it one of Japan's larger
hedge funds at the moment.
26 Oct 2009
Epic Partners Investments' Prowess of Japan Fund won the Arbitrage and Market Neutral Fund of the
Year Award at the AsiaHedge Awards 2009.
23 Oct 2009
The FSA has announced that the ban on naked short selling and the short selling position reporting
requirement will be extended until January 31, 2010,
19 Oct 2009
Dalton Investments, the Los Angeles-headquartered US$1.3 billion fund manager, Is
merging its Japanese subsidiary with real estate investment specialist Lexington in order to
cut costs. Junichiro Sano will lead the entity as Dalton's Japan representative.
16 Oct 2009
Tetsuo Tanimura, co-founder of Tower Investment Management in Tokyo, has recently left
the firm. Co-founder Tatsuro Kiyohara will continue to run Tower together with Shinya
Fujiwara.
6 Oct 2009
Rogers Investment Advisors, headed by Ed Rogers, has made three new hires. Rory
Kennedy (ex-UMJ and Deutsche) has joined as COO. The other two hires are Yuka
Watanabe (ex-Speedwell, Jardine Fleming, Lehman and Credit Suisse) and Masayo
Fukushima (ex-Deutsche and Credit Suisse). Jason Gerber has moved from his role as
COO to become Head of Operational Due Diligence.
28 Sep 2009
Kunio Tomiyama and Makoto Uraga have launched Wealth Bay Investment. Wealth Bay
plans to launch a Japanese equity long/short strategy in the near future. Tomiyama-san was
most recently Head of Japanese Equity Investment Management at Credit Suisse Asset
Management and previously he has worked at IBJ, Wako Securities and Shinko Investment
Trust Management. Uraga-san also gained experience at Wako Securities as well as
working at DKR Oasis, EN Asset Management, GE, Commerz and Toho Mutual Life
Insurance.
23 Sep 2009
Stefan Nilsson, founder and president of the Hedge Funds Club, will be speaking at Asian
Investor's Distressed & Troubled Asset Investing Summit in Tokyo on 16-17 November.
Other speakers include Hideya Sadanaga (Nippon Life Insurance Company), Seiji Murakata
(Development Bank of Japan), Leon Meng (DE Shaw), George Long (Lim Advisors), Robert
Appleby (ADM Capital), Warren Allderige (Pacific Harbor Group) and Professor Ed Altman of
New York University's Stern School of Business.
21 Sep 2009
Jim Olsson has left UBS to join Barclays Capital in prime brokerage sales.
9 Sep 2009
Japanese hedge funds returned on average +0.7% in August, according to the
Eurekahedge index.
3 Sep 2009
OGI Capital Partners, which launched a Japanese equity long/short fund as well as a
Japanese deep value fund a few months ago, is about to launch yet another fund. The OGI
Global Macro Fund will have an Asian bias and be managed by Allan Bedwick (ex-Lehman
prop trader).
2 Sep 2009
Mizuho Corporate Bank plans to significantly grow the Crystal Japan Fund, a CTA managed
by Mizuho Alternative Investments in the US, to around US$1.1bn within five years. Its current
size is US$140m. The main target market for the CTA is Japanese investors. In 2008 the
fund returned +42.39%.
1 Sep 2009
Tokyo hedge fund firm Alphex Investments Co. has hired Masamitsu Ohki (an ex-Deutsche
analyst) to research of Japanese non-manufacturing industries including financials, real
estate, transport, retail and IT.
31 Aug 2009
Gartmore in Japan has hired Robert Tull (ex-KBC Alternative Investments) as a portfolio
manager.
18 Aug 2009
Asia Genesis Asset Management, the Singapore-based manager of the Japan Macro Fund,
is shutting down as founder Chua Soon Hock wants to work less and improve his health.
The firm will close both the Japan Macro Fund (US$761m in AUM) and the smaller Asia
Genesis Equity Fund (US$12m in AUM).
HedgeFund.net's HFN Japan Average hedge fund index was +2.55% in July and +9.02%
YTD.
29 Jul 2009
Ed Rogers' Wolver Hill Asset Management, who has been running a Japan-only fund of
hedge funds for the past few years, plans to launch a pan-Asian fund of hedge funds in
October.
28 Jul 2009
Japan keeps seeing new hedge fund launches: both OGI Capital Partners and Akito Capital,
two new start ups, have launched Japan long/short strategies this month.
Stephen Satchell, the Tokyo-based former head of Credit Suisse's Asian proprietary trading
desk, is launching an Asian credit hedge fund in August. GCS Capital Management will
manage the GCS Asian Opportunity Fund.
27 Jul 2009
Japan's FSA has announced that the ban on naked short selling and the related short
selling position reporting requirement will be extended until October 31, 2009.
22 Jul 2009
Frederic Eechaute (ex-DKR Oasis Management) plans to launch a new Japan-focused
hedge fund in October. The fund will be managed by Instinct Capital, which Eechaute has
set up together with Stephen Good (ex-Mizuho Securities).
15 Jul 2009
Paris-headquartered Capital Fund Management has made management changes following
the death of CEO Jean-Pierre Aguilar. Aguilar has been replaced by Marc Potters and
Jacques Squires while Philippe Jordan, formerly head of the firm's US operations, has been
named president. Jordan will be based in Tokyo and focus on expanding the firm's
business in Asia, Europe and the US.
14 Jul 2009
William Chow, who previously worked on hedge fund investments at Shinsei Bank, has
joined the fund of hedge funds team at Ueda Yagi Securities.
13 Jul 2009
Winton Capital Management, a London-headquartered hedge fund manager with US$12
billion in AUM, will start a new hedge fund strategy for Japanese investors. Mitsubishi UFJ
Securities will sell the new fund, which will track the performance of Winton's flagship CTA
fund, to Japanese retail investors.
9 Jul 2009
Mark O'Friel, who headed Steel Partners Japan, has left the activist hedge fund. Katsuyoshi
Tanaka will take over O'Friel's responsibilities. O'Friel joined Steel Partners from Morgan
Stanley in 2008.
7 Jul 2009
Tokyo-headquartered Nomura plans to launch a global prime brokerage business in the
coming months.
1 Jul 2009
Tokyo-headquartered Sparx Asset Management plans to launch a yen-based global macro
fund this month as a way of transforming the firm from an equities-focused shop to more of
a multi-strategy asset manager. The firm has also launched another Japanese equities
long/short fund.
30 Jun 2009
Bruce Atkins, who left the alternative investments team of AIG Investments in Tokyo earlier
this year, has turned up at AI Capital, the Japanese private equity investor.
29 Jun 2009
Asia's 25 biggest hedge funds as of April 1, 2009
1. Sparx Group (Tokyo) US$4.82bn
2. Value Partners (HK) US$3.19bn
3. Artradis Fund Management (Singapore) US$2.722bn
4. ADM Capital (HK) US$2.2bn
5. Arisaig Partners (Singapore) US$1.996bn
6. Penta Investment Advisers (HK) US$1.910bn
7. Pacific Alliance Investment Management (HK) US$1.450bn
8. Target Asset Management (Singapore) US$1.400bn
9. Aisling Analytics (Singapore) US$1.186bn
10. Ortus Capital Management (HK) US$805m
11. LIM Advisors (HK) US$800m
12. Tree Line Investment Management (HK) US$760m
13. JL Capital (Singapore) US$618m
14. Sofaer Capital (HK) US$610m
15. Symphony Financial Partners (Singapore) US$600m
16. Asia Genesis Asset Management (Singapore) US$599m
17. Tower Investment Management (Tokyo) US$581m
18. Ward Ferry Management (HK) US$575m
19. Income Partners Asset Management (HK) US$520m
20. Lapp Capital (Singapore) US$500m
21. UG Investment Advisers (Singapore) US$496m
22. Argyle Street Management (HK) US$458m
23. Abax Global Capital (HK) US$455m
24. Brooke Capital (HK) US$450m
25. Asuka Asset Management (Tokyo) US$428m
Source: Alpha Magazine
Melbourne-based Kima Capital, headed by Justin Klintberg (ex-Marble Bar), is launching a
pan-Asian long/short fund this week. The bulk of the fund's assets will be invested in
Australia, Japan, Hong Kong, China and Singapore. KIma's Asian strategy combines
arbitrage, event driven and corporate events. Klintberg has recruited Michael Gallagher (ex-
Macquarie Bank and Rand Merchant Bank) as CEO. The fund will be launched with A$15
million in AUM.
26 Jun 2009
Masaki Taniguchi has been appointed the new President of Sparx Asset management,
Asia's largest hedge fund manager. Taniguchi-san previously ran Sparx's Hong Kong office
and prior to joining the firm he was at Goldman Sachs Asset Management.
25 Jun 2009
Sumitomo Trust Finance in Hong Kong has launched a new Japanese equity long/short
fund. The Tactical Equity Concepts-Japan Fund is being seeded by Sumitomo Trust &
Banking, Japan's fifth largest bank, with just over US$100m.
24 Jun 2009
Aksia, with offices in New York and Tokyo, has won Institutional Investor magazine's Hedge
Fund Consultant of the Year Award.
22 Jun 2009
Michael Hsueh, Deputy General Manager, Proprietary Investment and Trading Division at
Nikko Cordial, has left the firm. At Nikko Cordial he focused on alternative investments.
11 Jun 2009
KTOs Capital Partners is a new Tokyo-based global fund of hedge funds business that has
just been set up. Its first fund of funds strategy will be launched shortly.
10 Jun 2009
Another Tokyo Hedge Funds Club party, another success. Stefan Nilsson's by invitation only
event at the Roppongi Hills Club in Tokyo on Wednesday night saw more than 250 investors
and hedge fund managers come together over drinks. And the mood among both hedge
fund managers and investors was much more upbeat than it's been for a long time.
9 Jun 2009
Frank Packard, formerly head of North Asia for HSBC's fund of funds business and a current
member of Tokyo Hedge Funds Club advisory board, has joined Triple A Partners as its
Japan representative.
Morgan Stanley is starting to build up its Asian prime brokerage...again. SAIL's Marcella Lui
has been hired as a capital introduction specialist in Hong Kong and Keiko Kawauchi has
returned to the firm she left last year to be in charge of cap intro in Japan.
5 Jun 2009
Eizo Nakata has left the FoFs team of ING Mutual Funds Management in Tokyo to set up
Vertex Partners. Prior to ING he was at Rakuten Asset Management.
Toshiya Kirino has joined Rogers Investment Advisors as head of new product
development. Prior to joining Ed Rogers' fund of hedge funds shop he was head of financial
institutions at Gartmore Investment Japan. Prior to that he spent many years at Nippon
Credit Bank.
Anthony Miller has left his role as president of Ramius Japan to become CEO of the newly
formed Japanese unit of Asian alternative investment manager Pacific Alliance Group.
Before Ramius, Miller worked at Carlyle and Bear Stearns. Miller will remain an advisor to
Ramius.
4 Jun 2009
Following a good 2008 for its Japan equity long/short fund (+7%), Tokyo-based hedge fund
manager Alphex Investment Company, with US$83m in AUM, is planning to launch new
funds in 2009. In March it launched the short-biased ASB Opportunities fund and now the
firm is looking at launching a long-only fund as well as a pan-Asia equity long/short fund.
For older news, click here.
Superfund has launched the Superfund Blue Japan fund, a systematic market neutral equities fund
for Japanese retail investors.
People are hiring again! The last few weeks have seen a number of hedge funds, securities firms,
fund placement agents and other players in the alternative investment space starting to look for new
Tokyo-based recruits.
16 Jul 2010
Chie Furui has left her IR position at Japanese hedge fund manager Epic Partners.
13 Jul 2010
Hong Kong-based Value Partners, with US$5.7bn in AUM, is now the biggest hedge fund
management firm in Asia according to Asia Hedge Fund 25, Institutional Investor’s ranking of the
largest Asia-based hedge fund managers. As of 1 April, the firms in the Asia Hedge Fund 25
managed a combined US$36.1bn. Tokyo-based Sparx Group was number two on the list while
Singapore-based Arisaig Partners was number three, Beijing-based Hillhouse Capital Management
number four and Tokyo-based Bayview Asset Management came in fifth.
9 Jul 2010
Kyoko Uchida has left investment consulting firm AMC in Tokyo.
6 Jul 2010
Tan Maruyama (ex-prop trader at Goldman Sachs), founder of Round Rock Capital Advisors in
Tokyo, launched the R-Squared Master Fund, a new Japan-focused multi-strategy hedge fund, a few
months ago.
5 Jul 2010
Ed Rogers of Rogers Investment Advisors in Tokyo has won a US$90m mandate from a Japanese
investor that will be invested in the firm’s Wolver Hill Japan Multi-Strategy Fund. Ed has also recently
added another staff member, Michaela Gifford, to his expanding business.
1 Jul 2010
Cosmo Investment Management, the South Korean form partly owned by Japan’s Sparx Group, has
hired S. Hahn Sull (ex-Oojoo Capital Partners in Singapore) as CEO. He replaces Kevin Choi,
Cosmo's founder, who left the firm in June. Cosmo has also promoted Min-Key Seo to CIO.
25 Jun 2010
Japanese hedge fund manager Funnex Asset Management in Tokyo has hired Xiao Minjie (ex-Daiwa
Institute of Research in China) as the firm’s new president.
11 Jun 2010
Millennium Management, the US-headquartered US$7.3 billion hedge fund manager, has appointed
Kunho Cho (ex-Lehman Brothers) as chairman for its Asian business. Millennium employs about 70
staff in Asia spread across Tokyo, Hong Kong, Singapore and Beijing.
10 Jun 2010
The Alithion Japan Fund will be launched on 1 July with seed money from Marubeni in Tokyo. Akira
Yaku, Kentaro Ishizaki and Kai Hoshino (all ex-Mizuho) are the brains behind the new Japan fund
which will be run from Singapore by Alithion Capital Management.
Orix Investment Corporation and GCI Asset Management have launched the Orix Commodities Fund
with Atsuhito Mori as its chief trader.
2 Jun 2010
Mitsuo Ohmi left Japan Advisory this week "to pursue a more rewarding lifestyle which I intend to
enjoy for at least the next several years". Gone fishing? Writing a book? Who knows...
26 May 2010
Epic Partners Investments' Prowess of Japan Fund has won the Best Japan Hedge Fund at the
Eurekahedge Asian Hedge Fund Awards 2010.
19 May 2010
On 1 June T&D Asset Management is launching the T&D Japanese Equity Long Short Fund which will
be managed by Susumu Tominaga and Kazuko Yuzaki (both ex-Yunzei).
17 May 2010
Sparx, Asia's largest hedge fund manager, has returned to profit. Publicly listed Sparx made a profit
of JPY398 million in the year that ended 31 March, following last year's loss. In the past year, Sparx
has aggressively cut costs and also launched new products. Firm AUM is now at JPY686 billion.
14 May 2010
Bayview Asset Management has hired Ichiro Takamatsu, Masamatsu Ohki and Sanae Saga from
Alphex Investments. Alphex will be shut down and Bayview will take over some of the assets.
13 May 2010
Japanese hedge funds, who were the world’s worst performers in 2009, returned 6.7% in the first four
months of 2010. This is the best year-to-April return in six years, according to Eurekahedge.
7 May 2010
The average size of hedge fund launches in Asia in 2009 was US$40m, down from US$80m in 2007,
according to GFIA’s Peter Douglas. 70% of the hedge funds launched in Asia in 2008 and 2009 had
US$50m or less in AUM as of 31 March, 2010.
Fortress, who closed its Hong Kong office last June, has opened a new office in Singapore. It has
also kept its trading office in Tokyo open.
5 May 2010
After a four-year stint at Sumitomo Mitsui Asset Management (SMAM), Jiro Shimpo now returns to
Sumitomo Life Insurance to assume similar responsibilities in alternative investments.
29 Apr 2010
Cadogan Management is understood to be closing its Kurihama Japan fund of hedge funds due to
poor performance.
23 Apr 2010
Japan is expected to continue restricting naked short selling and require investors to disclose short-
sale positions until July 31.
Yoji Koga, legendary head of prime brokerage at both Credit Suisse and Morgan Stanley in Tokyo, is
retiring from the industry just in time for the Golden Week holidays. Golf anyone?
22 Apr 2010
The AsianInvestor 2010 Investment Performance Awards hedge fund winners have been announced.
They include CAI Global Fund (Asia-Pacific), ROCIM Asia Opportunity Fund (Asia ex-Japan), Prowess
of Japan (Japan), Trophy LV (long/short equity), Phalanx Japan-AustralAsia Multi-Strategy Fund
(multi-strategy), Vegasoul Fund (CTA/managed futures), 3DPropCo (distressed/special situations),
Richland Emerging Opportunities Fund (event driven), Ocean Capital China Macro Fund (macro), Brim
Asian Credit Fund (new launch), Dynamic Equity Partners (India), Galaxy China Deep Value Fund
(Greater China) and Centar Investment Group Asia (fixed income/credit).
19 Apr 2010
Japan Alternative Investment Co, a subsidiary of Mitsui & Co, has shut down its fund of hedge funds.
The firm has decided to focus its efforts on its core business as a distributor of funds.
15 Apr 2010
Things are picking up and people are hiring again. Mizuho Global Alternative Investments, a new
subsidiary of Mizuho Corporate Bank, is looking to add investment professionals to its alternative
investments team and Shinsei Investment Management is understood to be looking for marketing
people. And several of the securities exchanges look to hire marketing people for the Japanese
market.
The annual Risk Japan conference will take place on 22 June this year. Tokyo Hedge Funds Club's
Stefan Nilsson will moderate a panel discussion on hedge fund risk management at the event.
8 Apr 2010
BFC Asset Management has plans to hire three more people to its growing alternative investments
business. The three additional hires will take the head count in the Tokyo office to 21. BFC is
currently looking to hire in manager research/due diligence, compliance and investor relations.
7 Apr 2010
According to research by the Tokyo Hedge Funds Club and several industry estimates, Japanese
corporate pension funds now have an average allocation to hedge funds of around 10%. Japanese
pension funds tend to invest with large, well-known global hedge fund managers. Fund managers
with less than US$500 million in AUM are unlikely to be considered for investments in most cases.
The current trend is also for them to invest direct with single managers rather than through fund of
funds which earlier often was the case. While many pension funds are likely to keep some fund of
funds investments, most new mandates are for single manager allocations. There is also an
increased demand in Japan for pension fund consultants to provide more and better research on
singe manager strategies.
6 Apr 2010
Noriyuki Kawana’s BFC Asset Management in Tokyo is planning to launch a global equity long/short-
focused fund of funds on June 1. The underlying investors are all Japanese pension funds.
4 Apr 2010
Top 10 Asian fund launches in 2009
1. ChinaRock Capital, Multi-Strategy, Sep-09, $400m
2. Senrigan Asia, Event-Driven, Nov-09, $220m
3. Prudence Enhanced Income Fund, Fixed Income, Jan-09, $150m
4. PK Japan, Long Short Equity, Oct-09, $212m
5. Dymon Asia Macro Fund, Macro, Aug-09, $125m
6. Temujin Model Portfolio, Multi-Strategy, Jan-09, $125m
7. Karakoram Fund Ltd, Long/Short Equity, Jul-09, $124m
8. Sumitomo Tactical Equity Concepts Japan Fund, Long Short Equity, Jun-09, $108m
9. Tactical Equity Concepts - Japan Fund, Long/Short Equity, Jun-09, $106m
10. Henderson Asia Pacific INC Absolute Return Fund, Long Short Equity, Jul-09, $103m
23 Mar 2010
Russell Investments is currently trying to recruit a head of alternative investments for Japan. The
person appointed to this new role will be in charge of making recommendations to Japanese pension
funds on allocations to alternative investments.
22 Mar 2010
Shin Kubo, a former Asian head of research at Russell Investment Group, has been appointed CIO
of Mizuho Global Alternative Investments, a newly formed subsidiary of Mizuho Corporate Bank which
will focus on distributing global hedge funds to Japanese institutional investors and may also launch
its own Asia-focused fund of funds.
17 Mar 2010
The Eurekahedge Japan Hedge Fund Index returned an estimated -0.14% in February and +0.84%
YTD.
8 Mar 2010
DE Shaw is understood to be opening offices in Shanghai and Tokyo in the coming months.
24 Feb 2010
Itochu Corporation is shutting down ACAM Advisors, its US$500 million New York-based FoF business.
Hedge fund manager Indus Capital, with US$3.3 billion in AUM, has launched the Indus Japan Long
Only Fund.
Atlantic Investment, with US$1.5 billion in AUM, has launched Pannotia, a new Asia fund with a China
bias. Ken Yamada, Atlantic’s New York-based Asia research chief, manages the strategy and is
assisted by analysts Celia Huey and Allan Chang in Tokyo.
22 Feb 2010
New York-based Aristarc Capital is launching a Japan equity market neutral fund to be managed by
Michael Feldschuh (ex-FrontPoint Partners, Millennium Partners, DE Shaw, Morgan Stanley).
Singapore-based MAM, a Japanese family office, has set up its own internal proprietary Japan-
focused hedge fund.
Tan Maruyama (ex-prop trader at Goldman Sachs and Merrill Lynch) has set up Round Rock Capital
Advisors in Tokyo in order to manage a Japan-focused multi-strategy fund focused on CB arbitrage,
credit and equity long/short.Maruyama-san is joined at the new firm by Toshitaka Itoshima, Satoshi
Kamata and Shuhei Komatsu.
Hedge fund veteran Makoto Haga passed away on Friday 19 February at the age of 46 following a
heart attack. At the time of his death, Haga-san worked at Monex as chief strategist. Haga-san
made his name as the first hedge fund manager at both Nomura and at Sumitomo Trust & Banking.
He was also the founder of Wing Asset Management.
17 Feb 2010
Sean Lenihan has joined TY Advisers as Tokyo Branch Manager and Head of Research. This follows
Toru Ueda's move to TY/Hachiman Capital’s Singapore office. Prior to joining TY, Sean was an
Associate Partner, Lead Portfolio Manager and Head of the Tokyo Japan Equity team at Wellington
Management. Previously, he was Lead Portfolio Manager at Deutsche Trust Bank where he was
directly responsible for managing US$3 billion of Japanese assets.
12 Feb 2010
FletcherBennett Capital, a consulting firm for the hedge fund industry, has appointed Somer Hatano
(ex-Alpha Dialogue Advisors, Morgan Stanley) as director of investor coverage for Japan. Hatano-san
will be based in New York.
5 Feb 2010
Japanese hedge fund manager J-Flag Investment plans to start a new equity long/short hedge fund
that will invest in Japanese small cap stocks.
22 Jan 2010
Today the Japanese FSA announced that the ban on naked short selling and short selling position
reporting requirement will again be extended until the end of April.
20 Jan 2010
Tokyo-headquartered Sparx Asset Management will distribute its hedge funds outside of Japan
through Hong Kong-based Triple A Partners.
9 Jan 2010
Industry veteran Tomo Watanabe has this week set up his own hedge fund services company in
Japan, Synergy Capital Management. Tomo has a long career, including stints at GCI Asset
Management and Asuka Asset Management.
Hachiman Capital’s Toru Ueda is relocating from the firm’s Tokyo-based investment advisor TY
Advisers to Hachiman’s Singapore office.
Tokyo-based Atsuko Tsuchiya (ex-Sparx, Citadel, Merrill Lynch) plans to launch a new Japanese
event-driven fund, the Atom Japan Alpha Fund, in March. Hong Kong-based Penjing Asset
Management is the anchor investor for the new fund. Stan Howard’s Gordian Capital in Singapore will
be the manager of the fund with Atsuko Tsuchiya’s Atom Capital Management as the investment
advisor.
8 Jan 2010
The Futures Industry Association Japan will hold its New Year Reception at the Foreign
Correspondents’ Club of Japan in Tokyo on January 20.
6 Jan 2010
Gartmore will merge its Japan Opportunities fund into its Japan Absolute Return fund, managed by
John Stewart in Tokyo. Mike Gleason, who has been managing the Japan Opportunities fund, will
remain as head of quant strategies.
28 Dec 2009
IQPC will host the 4th Hedge Fund Investments Japan Congress in Tokyo on May 24-25, 2010.
Speakers will include Shuhei Abe (founder of SPARX) and Stefan Nilsson (founder of Tokyo Hedge
Funds Club). For more information, please visit www.hedgefundinvestmentsjapan.com.
19 Dec 2009
Morgan Stanley has appointed Chris Duffy as its head of prime brokerage in Japan.
18 Dec 2009
The Eurekahedge Japan Hedge Fund Index returned an estimated -2.50% in November which brings
the YTD figure to +4.53%.
11 Dec 2009
A story on the Tokyo Hedge Funds Club's year-end party featured in today's Morning Satellite news
programme on TV Tokyo.
10 Dec 2009
More good news! Several major US headquartered hedge fund firms are now in the process of setting
up offices in Tokyo. In some cases these are research and investment offices and in some cases
they are marketing and investor relations offices.
5 Dec 2009
The Sparx Japan Small Cap Fund has returned +26% YTD. The fund is managed by Tadahiro
Fujimura and was launched in 2000. AUM is around US$14m.
4 Dec 2009
London-based Marshall Wace's TOPS Japan Fund, a Japan equity long/short strategy, has returned
+26% YTD. The fund's AUM is around US$250m.
3 Dec 2009
Fred Eechaute (ex-DKR Oasis, Mizuho Securities) and Stephen Good (ex-Mizuho Securities) have this
week launched the Instinct Japan Opportunity Fund, a Japan event-driven strategy. Anita Lam (ex-
DKR Oasis) has also joined the new venture.
1 Dec 2009
Kingdon Capital is believed to have shut down its Tokyo office.
30 Nov 2009
Lyxor Asset Management is considering investing more in Japanese hedge funds in 2010 as it
expects a rebound in the Japanese stock market.
28 Nov 2009
Asia's largest hedge fund manager, Tokyo-based Sparx Group, plans to launch a fund aimed at
investing in Japanese environmental technology firms.
26 Nov 2009
Jun Mihara (ex-Merrill Lynch) is planning to launch an Asian distressed assets fund for Zais Group.
Mihara-san joined Zais last month as CIO. Zais has offices in New Jersey and Tokyo as well as in
other European and Asian locations.
25 Nov 2009
Yoko Mihara has left Ramius Japan to join United Investment Co. as a Senior Vice President of
Marketing.
24 Nov 2009
Hedge fund manager Randall Kahn of Apiana Investments plans to merge his fund with the APS
Pacific Rim hedge funds. He will also join APS as Director of Investments, working with their Asia and
Japan funds and also on new product generation.
19 Nov 2009
Gartmore plans to launch the Gartmore Japan Absolute Return Fund in February. This Ucits III-style
fund is a new vehicle based on the firm's existing AlphaGen Hokuto Japanese equity long/short
strategy managed by John Stewart in Tokyo.
18 Nov 2009
Koji Yoshimoto has transferred back to Orix Investment Corporation from his secondment to Orix
Securities Corporation. Yoshimoto-san has joined the risk management division.
Jesper Koll has left hedge fund manager Tantallon to rejoin J.P. Morgan as Head of Japan equity
research. Prior to joining Tantallon two years ago he was chief Japanese economist at Merrill Lynch.
12 Nov 2009
Japanese hedge fund manager Hachiman Capital is positioning itself for future growth. While the
firm maintains a research office in Tokyo, co-founder and portfolio manager Yashwant Bajaj has
recently relocated from Tokyo to Singapore.
6 Nov 2009
Tetsuo Tanimura, formerly CEO of and co-founder of Tower Investment Management, has set up
C2G Advisors in Tokyo. C2G is a hedge fund consultancy that will help Asian hedge fund managers
with marketing and fundraising. C2G is also considering seeding some new Asian managers.
2 Nov 2009
Upcoming alternative investment events in Tokyo:
* Battle of the Quants (9 Nov)
* Goldman Sachs Hedge Fund Symposium (10-11 Nov)
* Distressed & Troubled Asset Investing Summit (16-17 Nov)
* Hedge Fund Insights (26 Nov)
* BFC Hedge Fund Seminar (30 Nov)
* J.P. Morgan Meet the Managers (Dec 2)
* Tokyo Hedge Funds Club Year-End Party (Dec 3)
Activist hedge fund manager Ichigo Asset Management, led by Scott Callon, has had a good year so
far. Assets under management has grown to more than US$750m, making it one of Japan's larger
hedge funds at the moment.
26 Oct 2009
Epic Partners Investments' Prowess of Japan Fund won the Arbitrage and Market Neutral Fund of the
Year Award at the AsiaHedge Awards 2009.
23 Oct 2009
The FSA has announced that the ban on naked short selling and the short selling position reporting
requirement will be extended until January 31, 2010,
19 Oct 2009
Dalton Investments, the Los Angeles-headquartered US$1.3 billion fund manager, Is
merging its Japanese subsidiary with real estate investment specialist Lexington in order to
cut costs. Junichiro Sano will lead the entity as Dalton's Japan representative.
16 Oct 2009
Tetsuo Tanimura, co-founder of Tower Investment Management in Tokyo, has recently left
the firm. Co-founder Tatsuro Kiyohara will continue to run Tower together with Shinya
Fujiwara.
6 Oct 2009
Rogers Investment Advisors, headed by Ed Rogers, has made three new hires. Rory
Kennedy (ex-UMJ and Deutsche) has joined as COO. The other two hires are Yuka
Watanabe (ex-Speedwell, Jardine Fleming, Lehman and Credit Suisse) and Masayo
Fukushima (ex-Deutsche and Credit Suisse). Jason Gerber has moved from his role as
COO to become Head of Operational Due Diligence.
28 Sep 2009
Kunio Tomiyama and Makoto Uraga have launched Wealth Bay Investment. Wealth Bay
plans to launch a Japanese equity long/short strategy in the near future. Tomiyama-san was
most recently Head of Japanese Equity Investment Management at Credit Suisse Asset
Management and previously he has worked at IBJ, Wako Securities and Shinko Investment
Trust Management. Uraga-san also gained experience at Wako Securities as well as
working at DKR Oasis, EN Asset Management, GE, Commerz and Toho Mutual Life
Insurance.
23 Sep 2009
Stefan Nilsson, founder and president of the Hedge Funds Club, will be speaking at Asian
Investor's Distressed & Troubled Asset Investing Summit in Tokyo on 16-17 November.
Other speakers include Hideya Sadanaga (Nippon Life Insurance Company), Seiji Murakata
(Development Bank of Japan), Leon Meng (DE Shaw), George Long (Lim Advisors), Robert
Appleby (ADM Capital), Warren Allderige (Pacific Harbor Group) and Professor Ed Altman of
New York University's Stern School of Business.
21 Sep 2009
Jim Olsson has left UBS to join Barclays Capital in prime brokerage sales.
9 Sep 2009
Japanese hedge funds returned on average +0.7% in August, according to the
Eurekahedge index.
3 Sep 2009
OGI Capital Partners, which launched a Japanese equity long/short fund as well as a
Japanese deep value fund a few months ago, is about to launch yet another fund. The OGI
Global Macro Fund will have an Asian bias and be managed by Allan Bedwick (ex-Lehman
prop trader).
2 Sep 2009
Mizuho Corporate Bank plans to significantly grow the Crystal Japan Fund, a CTA managed
by Mizuho Alternative Investments in the US, to around US$1.1bn within five years. Its current
size is US$140m. The main target market for the CTA is Japanese investors. In 2008 the
fund returned +42.39%.
1 Sep 2009
Tokyo hedge fund firm Alphex Investments Co. has hired Masamitsu Ohki (an ex-Deutsche
analyst) to research of Japanese non-manufacturing industries including financials, real
estate, transport, retail and IT.
31 Aug 2009
Gartmore in Japan has hired Robert Tull (ex-KBC Alternative Investments) as a portfolio
manager.
18 Aug 2009
Asia Genesis Asset Management, the Singapore-based manager of the Japan Macro Fund,
is shutting down as founder Chua Soon Hock wants to work less and improve his health.
The firm will close both the Japan Macro Fund (US$761m in AUM) and the smaller Asia
Genesis Equity Fund (US$12m in AUM).
HedgeFund.net's HFN Japan Average hedge fund index was +2.55% in July and +9.02%
YTD.
29 Jul 2009
Ed Rogers' Wolver Hill Asset Management, who has been running a Japan-only fund of
hedge funds for the past few years, plans to launch a pan-Asian fund of hedge funds in
October.
28 Jul 2009
Japan keeps seeing new hedge fund launches: both OGI Capital Partners and Akito Capital,
two new start ups, have launched Japan long/short strategies this month.
Stephen Satchell, the Tokyo-based former head of Credit Suisse's Asian proprietary trading
desk, is launching an Asian credit hedge fund in August. GCS Capital Management will
manage the GCS Asian Opportunity Fund.
27 Jul 2009
Japan's FSA has announced that the ban on naked short selling and the related short
selling position reporting requirement will be extended until October 31, 2009.
22 Jul 2009
Frederic Eechaute (ex-DKR Oasis Management) plans to launch a new Japan-focused
hedge fund in October. The fund will be managed by Instinct Capital, which Eechaute has
set up together with Stephen Good (ex-Mizuho Securities).
15 Jul 2009
Paris-headquartered Capital Fund Management has made management changes following
the death of CEO Jean-Pierre Aguilar. Aguilar has been replaced by Marc Potters and
Jacques Squires while Philippe Jordan, formerly head of the firm's US operations, has been
named president. Jordan will be based in Tokyo and focus on expanding the firm's
business in Asia, Europe and the US.
14 Jul 2009
William Chow, who previously worked on hedge fund investments at Shinsei Bank, has
joined the fund of hedge funds team at Ueda Yagi Securities.
13 Jul 2009
Winton Capital Management, a London-headquartered hedge fund manager with US$12
billion in AUM, will start a new hedge fund strategy for Japanese investors. Mitsubishi UFJ
Securities will sell the new fund, which will track the performance of Winton's flagship CTA
fund, to Japanese retail investors.
9 Jul 2009
Mark O'Friel, who headed Steel Partners Japan, has left the activist hedge fund. Katsuyoshi
Tanaka will take over O'Friel's responsibilities. O'Friel joined Steel Partners from Morgan
Stanley in 2008.
7 Jul 2009
Tokyo-headquartered Nomura plans to launch a global prime brokerage business in the
coming months.
1 Jul 2009
Tokyo-headquartered Sparx Asset Management plans to launch a yen-based global macro
fund this month as a way of transforming the firm from an equities-focused shop to more of
a multi-strategy asset manager. The firm has also launched another Japanese equities
long/short fund.
30 Jun 2009
Bruce Atkins, who left the alternative investments team of AIG Investments in Tokyo earlier
this year, has turned up at AI Capital, the Japanese private equity investor.
29 Jun 2009
Asia's 25 biggest hedge funds as of April 1, 2009
1. Sparx Group (Tokyo) US$4.82bn
2. Value Partners (HK) US$3.19bn
3. Artradis Fund Management (Singapore) US$2.722bn
4. ADM Capital (HK) US$2.2bn
5. Arisaig Partners (Singapore) US$1.996bn
6. Penta Investment Advisers (HK) US$1.910bn
7. Pacific Alliance Investment Management (HK) US$1.450bn
8. Target Asset Management (Singapore) US$1.400bn
9. Aisling Analytics (Singapore) US$1.186bn
10. Ortus Capital Management (HK) US$805m
11. LIM Advisors (HK) US$800m
12. Tree Line Investment Management (HK) US$760m
13. JL Capital (Singapore) US$618m
14. Sofaer Capital (HK) US$610m
15. Symphony Financial Partners (Singapore) US$600m
16. Asia Genesis Asset Management (Singapore) US$599m
17. Tower Investment Management (Tokyo) US$581m
18. Ward Ferry Management (HK) US$575m
19. Income Partners Asset Management (HK) US$520m
20. Lapp Capital (Singapore) US$500m
21. UG Investment Advisers (Singapore) US$496m
22. Argyle Street Management (HK) US$458m
23. Abax Global Capital (HK) US$455m
24. Brooke Capital (HK) US$450m
25. Asuka Asset Management (Tokyo) US$428m
Source: Alpha Magazine
Melbourne-based Kima Capital, headed by Justin Klintberg (ex-Marble Bar), is launching a
pan-Asian long/short fund this week. The bulk of the fund's assets will be invested in
Australia, Japan, Hong Kong, China and Singapore. KIma's Asian strategy combines
arbitrage, event driven and corporate events. Klintberg has recruited Michael Gallagher (ex-
Macquarie Bank and Rand Merchant Bank) as CEO. The fund will be launched with A$15
million in AUM.
26 Jun 2009
Masaki Taniguchi has been appointed the new President of Sparx Asset management,
Asia's largest hedge fund manager. Taniguchi-san previously ran Sparx's Hong Kong office
and prior to joining the firm he was at Goldman Sachs Asset Management.
25 Jun 2009
Sumitomo Trust Finance in Hong Kong has launched a new Japanese equity long/short
fund. The Tactical Equity Concepts-Japan Fund is being seeded by Sumitomo Trust &
Banking, Japan's fifth largest bank, with just over US$100m.
24 Jun 2009
Aksia, with offices in New York and Tokyo, has won Institutional Investor magazine's Hedge
Fund Consultant of the Year Award.
22 Jun 2009
Michael Hsueh, Deputy General Manager, Proprietary Investment and Trading Division at
Nikko Cordial, has left the firm. At Nikko Cordial he focused on alternative investments.
11 Jun 2009
KTOs Capital Partners is a new Tokyo-based global fund of hedge funds business that has
just been set up. Its first fund of funds strategy will be launched shortly.
10 Jun 2009
Another Tokyo Hedge Funds Club party, another success. Stefan Nilsson's by invitation only
event at the Roppongi Hills Club in Tokyo on Wednesday night saw more than 250 investors
and hedge fund managers come together over drinks. And the mood among both hedge
fund managers and investors was much more upbeat than it's been for a long time.
9 Jun 2009
Frank Packard, formerly head of North Asia for HSBC's fund of funds business and a current
member of Tokyo Hedge Funds Club advisory board, has joined Triple A Partners as its
Japan representative.
Morgan Stanley is starting to build up its Asian prime brokerage...again. SAIL's Marcella Lui
has been hired as a capital introduction specialist in Hong Kong and Keiko Kawauchi has
returned to the firm she left last year to be in charge of cap intro in Japan.
5 Jun 2009
Eizo Nakata has left the FoFs team of ING Mutual Funds Management in Tokyo to set up
Vertex Partners. Prior to ING he was at Rakuten Asset Management.
Toshiya Kirino has joined Rogers Investment Advisors as head of new product
development. Prior to joining Ed Rogers' fund of hedge funds shop he was head of financial
institutions at Gartmore Investment Japan. Prior to that he spent many years at Nippon
Credit Bank.
Anthony Miller has left his role as president of Ramius Japan to become CEO of the newly
formed Japanese unit of Asian alternative investment manager Pacific Alliance Group.
Before Ramius, Miller worked at Carlyle and Bear Stearns. Miller will remain an advisor to
Ramius.
4 Jun 2009
Following a good 2008 for its Japan equity long/short fund (+7%), Tokyo-based hedge fund
manager Alphex Investment Company, with US$83m in AUM, is planning to launch new
funds in 2009. In March it launched the short-biased ASB Opportunities fund and now the
firm is looking at launching a long-only fund as well as a pan-Asia equity long/short fund.
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