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Matthias Knab reports live from the Hedge Funds World conference in Tokyo:
Masako Watanabe, Masako Watanabe & Associates, HK said Watanabe & Associates was founded in 1996 and launched in February 2005 a Japan focused FoF. The firm’s clients are mostly Japan and Middle Eastern based individual investors.
Andrew E. Fisch, Portfolio Manager at SSARIS Advisors, USA says creating a FoF in Japan is a different exercise; quantitative Analysis is difficult because of the short track records. The firm has chosen a more qualitative approach in constructing a Japanese focused FoF.
Mr. Fisch also pointed out how the industry has changed since the 80ties. The thinks basically “the returns are out there”, but it has become a tremendous amount of work to screen the managers (which have multiplied) and at the same time to manage your tail risk.
50% of SSARIS’ assets are set up in managed accounts; the Japan focused FoF is not included here because the Japanese markets are still implementing the technology necessary to run managed account.
Ken Shimasaki, Alternative Investment Group, Sumitomo Mitsui Asset Management Japan explained Sumitomo runs a Japan/Asia focused FoF with 130bln Yen, mostly from Japanese pension fund clients. Mr. Shimasaki thinks the prospects for the future growth for hedge funds and fund of funds is still high.
Jeff Lee, Head of Alternative Asset Management, Nikko Alternative Asset Management Inc., USA said the firm run...................... To view our full article Click here
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