Thu, Dec 14, 2017
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. Mediobanca acquires majority stakes in Swiss hedge fund[more]

    Komfie Manalo, Opalesque Asia: Listed diversified banking group Mediobanca SpA said it has acquired a majority stake in Geneva-based hedge fund firm RAM Active Investments SA (RAM AI), an active and alternative asset manager offering a range of act

  2. Launches - Ex-BlueCrest team to open over $200m hedge fund, Greg Coffey, a hedge fund star who retired at 41, is eyeing a comeback, Brevan Howard plans Greek funds as bond rally signals revival[more]

    Ex-BlueCrest team to open over $200m hedge fund From Bloomberg.com: A team of traders who left BlueCrest Capital Management earlier this year raised more than $200 million for their own hedge fund focused on Asian stocks, according to a person familiar with the matter. Ovata Capital Manag

  3. North America - Miami could attract hedge funds if SALT deductions axed[more]

    From Law360.com: For years, inertia has been Nitin Motwani's greatest foe in his attempts to lure hedge fund owners in the northeast to Miami, which he has pitched as a tropical low-tax paradise. But with the Republican tax bill proposing to eliminate deductions for state and local taxes, he's sensi

  4. Northleaf Capital Partners closes debut private credit fund on $670M[more]

    Bailey McCann, Opalesque New York: Northleaf Capital Partners has closed its debut private credit fund - Northleaf Private Credit I - on $670 million. The vehicle will invest in private credit transactions in Europe and North America, with a primary focus on lending to private equity-backed compa

  5. ...And Finally - The ongoing gun saga in the U.S.[more]

    From Newsoftheweird.com: As elder members of the First United Methodist Church in Tellico Plains, Tennessee, gathered on Nov. 16 to discuss the recent church shooting in Sutherland Springs, Texas, one of those present asked if anyone had brought a gun to church. One man spoke up and said he c