Thu, Sep 3, 2015
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. Cliff Asness attracts $360 million as liquid alternative funds hold up[more]

    From Bloomberg.com: As U.S. stocks suffered their worst month in more than three years in August, Clifford Asness’s managed futures fund was able to profit. Investors are taking notice. The $9.12 billion AQR Managed Futures Strategy Fund pulled in an estimated $360 million in net subscriptions last

  2. Performance - Einhorn and Loeb's hedge funds both decline 5% in August, Some target-date funds miss in the market turmoil[more]

    Einhorn and Loeb's hedge funds both decline 5% in August From Reuters.com: Hedge fund billionaires David Einhorn and Daniel Loeb saw their main funds lose roughly 5 percent in August during a dramatic market sell off, two people familiar with their returns said on Monday. Einhorn's

  3. Opalesque Exclusive: When the SEC calls, fund managers need to get out of their own way[more]

    Bailey McCann, Opalesque New York: New pressure is hitting alternative investment funds from all angles. So far this month both hedge fund and private equity players have seen enforcement actions, and subsequent fines over fees, disclosures, and misleading statements. Citi one of the biggest

  4. Fortress hedge fund manager David Dredge says markets trouble on the way[more]

    From AFR.com: David Dredge of global hedge fund Fortress has built a career studying, predicting and protecting against the world's major financial crises. The recent convulsions in global sharemarkets are "just the beginning" of a painful adjustment as money drains from the emerging market economie

  5. North America - Puerto Rico agency plans talks with hedge fund creditors[more]

    From WSJ.com: Puerto Rico’s Government Development Bank is planning to begin confidential debt-restructuring talks with hedge funds that own its bonds as early as next week, said a person familiar with the matter. The parties are set to discuss a plan under which the investors would lend additional

 

banner