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Alternative Market Briefing

Skybridge says current Japan situation difficult to manage, even for hedge funds

Monday, July 25, 2016

Komfie Manalo, Opalesque Asia:

SkyBridge Capital, one of the world’s biggest investors in hedge funds, is trying to avoid any exposure in Japan right now, saying that the current situation in the region is difficult to manage.

Raymond Nolte, Skybridge’s chief investment officer and oversees $13bn of the firm’s assets in New York, said that the firm currently has zero exposure to Japan-focused hedge funds. He told Bloomberg, "The current environment for Japanese assets is very difficult to manage with any certainty." Nolte is also the chairman of the firm’s manager selection committee.

He explained that Japan’s exceptional monetary stimulus has made Tokyo’s debt and equity markets too tough to manage. Nolte believes that the situation in Japan is an extreme reflection of the global markets, with central banks introducing extraordinary measures to encourage economic activities.

Data provider Hedge Fund Research said that the global equity markets ended June with mixed performance following steep declines across all markets intra-month on the Brexit vote. It said that the Japanese market was not spared of the onslaught of the Brexit. HFR said that while equities in the U.S., China and Great Britain recovered in......................

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