Wed, Dec 7, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
New Managers August 2014

FUND PROFILES: Hayate Japan Equity Long/short fund, Polar Star's commodity hedge funds

Japan hedge fund outperforms by focusing on inefficiencies and irrationalities

Here is a long/short equity fund that focuses on small caps in Japan and is doing so with accomplishment.

After returning almost 99% last year, the Hayate Japan Equity Long/short fund won a number of awards from Eurekahedge and the Global Emerging Manager Awards (GEMA). And while the fund is up 5.6% YTD (to June), Japanese hedge funds on average seem flat so far this year - after having enjoyed 2013 as a year of plenty. The HFRX Japan Index is up 0.67% YTD (to end June), after returning 32.77% in 2013 (8% in 2012, -6.8% in 2011 and 8.3% in 2010). The Eurekahedge Japan Hedge Fund Index is up 0.79% YTD (est., to end July), after returning 27.8% in 2013 (5.6% in 2012, -1% in 2011 and 8% in 2010).

The Hayate fund, which was launched in March 2006, gained 98.7% in 2013, 12% in 2012, 9.5% in 2011 and 2% in 2010. Its only down year was 2007 (-3.2%). In terms of assets under management, it had about $50 million at the end of 2013.

Tokyo's benchmark index, the Nikkei, surged by 56.7% in 2013 (following a rally of 23% in 2012), its biggest annual rise in over 40 years, after a series of government initiatives helped boost investor confidence, weaken the yen (by almost 18% against the US$) and encourage economic expansion, according CNN. But apparently Japan's GDP shrunk by an annualized 6.8% in the second quarter this year, its worst contraction since 2011. Japan stocks are not very upbeat either in 2014. According to Bloomberg, year-to-date, the Nikkei 225 is down 5.7% (+11.5% in the last year), the TOPIX is down 1.9% (+11.2% in the last year), the TSE Mothers is down almost 3% (having recovered in the last few days, and up 3% in the last year), and the JASDAQ is down 0.26% (up 21.8% in the last year). And the US Dollar to Japanese Yen Excha......................

To view our full article please login

This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
New Managers
New Managers
New Managers

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. M&A - AllianzGI to acquire Sound Harbor Partners, SS&C completes acquisition of Wells Fargo's Global Fund Services business[more]

    AllianzGI to acquire Sound Harbor Partners Allianz Global Investors (AllianzGI), an active investment manager, announced that Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, have agreed to join its fast-growing Private Debt Platform. Under the te

  2. People - Nectar Financial hires senior investment team, Texas A&M replaces retiring foundation investment chief, Ex-Cadwalader partner Woolery makes another sudden exit, How to become a Python coder at a top hedge fund, by the co-CTO of Man AHL[more]

    Nectar Financial hires senior investment team Nectar Financial AG, a Swiss financial technology company for wealth and asset management, has announced that it has hired two key senior leaders to spearhead its digital asset management efforts. The company also announced that it has entere

  3. Activist News - Cognizant has introductory discussion with activist investor Elliott; to review letter, Starboard Value makes huge investment in Hewlett Packard, Hedge fund calls for removal of First NBC Bank CEO[more]

    Cognizant has introductory discussion with activist investor Elliott; to review letter From Indiatimes.com: Cognizant said it had an introductory discussion with Elliott Management after receiving the activist hedge fund's letter asking for a board shakeup, a buyback, a dividend and chan

  4. Opalesque Exclusive: Ireland relaxes treatment of direct lending funds[more]

    Bailey McCann, Opalesque New York: The Irish Central Bank has relaxed its treatment of direct lending funds, according to a recently released

  5. Institutions - Texas County & District culls 5 hedge funds, reallocates to existing managers, Kentucky board gives final approval to halve hedge fund portfolio, $38bn Finnish fund moves assets to U.S. as Europe flounders, South Korea’s National Pension Fund holds 5% stake in 62 listed companies[more]

    Texas County & District culls 5 hedge funds, reallocates to existing managers Texas County & District Retirement System, Austin, continues to reduce the number of hedge funds, but not the size of its $6.2 billion hedge fund portfolio. It will redeem a total of $760 million from five hedg