Wed, Sep 17, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

State Street unit shuts down Japanese fund of hedge funds

Thursday, February 28, 2013

Komfie Manalo, Opalesque Asia – State Street Global Advisors’ alternative unit SSARIS has announced it will close its Japanese fund of hedge funds on concerns about dwindling assets and poor returns.

A report by AsianInvestor.net said that the SSARIS Multi-Manager Japan Equity Fund’s assets fell to an estimated $10m and registered negative 3.16% losses in the first half of 2012 and fell -1.83 % from its 2005 inception to June last year.

The fund is focused on investing in hedge funds that traded Japanese equities.

According to the report, the closure of the fund is an indication of the broader picture of Japanese hedge funds which returned only 6% last year compared with gains made by Asia ex-Japan funds which posted 12% in 2012 and the Nikkei 225 index which rose 23% last year.

It also does not help that investors still don’t have an encouraging opinion of Japan according to the latest survey by Deutsche Bank of hedge investors who expect Tokyo to be one of the top three worst-performing regions this year.

SSARIS closure of its Japan fund is a complete turnaround from its rosy outlook in Asia in June 2012 when it increased its exposure to Asia-based strategies for its fund of hedge fund range, given th......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  2. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  3. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Opalesque Exclusive: Old Hill Partners launches specialty finance fund[more]

    Bailey McCann, Opalesque New York: Asset-backed lending is starting to heat up again after a prolonged credit squeeze. The Financial Times reports that a record £18.9bn was borrowed from asset-based lenders in the three months to the end of June. Much of this lending is driven by advanc