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Matthias Knab reports from Tokyo: Nikko Citigroup Limited, already #3 in the Japanese onshore hedge fund market, emphasises the high growth the industry will experience in the coming years. William Jensen, Director of equity finance at Nikko Citigroup, said the prime brokerage group is supported by a high commitment from Citigroup to further expand the array of services offered to hedge funds.
According to Jensen, there is an ongoing flow of institutional Japanese managers entering the hedge fund space, setting up independent asset management firms and showing a strong entrepreneurial spirit. With Citigroup’s joint venture with Nikko Cordial, Nikko Citigroup’s presence in Japan is uniquely positioned to serve this evolving market. Overall there is a trend in corporate law reform in Japan to a more shareholder equity culture, according to the Nikko Citigroup expert, who says the country will continue, for years to come, to witness more M & A, events and activist opportunities. The change in the Japanese landscape come in a measured pace, the players “develop on their own terms”, but nevertheless the results of this progress are “dramatic”.
Andrew Hill, Vice President of Nikko Citigroup prime brokerage, added there are still large quantities of uncovered companies, an ideal condition for the classic long/short stock pickers. With a change in interest rates, the future may also offer more fixed income plays. The corporate bond market does not have the same size...................... To view our full article Click here
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