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Matthias Knab reports from the HedgeFundsWorld conference in Tokyo: Daisuke Hamaguchi, director of the $2bln Mitsubishi Corporation Pension fund, started in 1999 to build a more diversified portfolio and was one of the first pension funds in Japan to include hedge funds and private equity. The fund uses the help of a global advisor. The hedge fund investments are roughly equally split with 50% FOF and 50% direct investments and is evaluating investing into commodities. The typical allocation to a single manager is about $10m - $30m. The performance YTD is 4%. Mr. Hamaguchi pointed out that generally Japanese institutional investors are moving from passive into active asset management.
Kazuki Nakamoto, Managing Director of Daido Life Insurance, explained his fund has started in 1999 to look and diversify into hedge funds and has currently 80bln Yen in 6 FOFs, whereby five of those investments are managed accounts. This represents 1.4% of all assets, the fund aims to up this to 100bln Yen. For the last five years, the hedge fund portfolio has met each year its investment target. Nakamoto is not a friend of simulations, but prefers to examine real track records.
Keiji Mogi, Senior Executive VP of Sony Life Insurance, has currently no money invested in hedge funds but mentioned with a yearly inflow of 200 – 300 bln Yen is he looking at the sector. For Mogi, the hedge fund business is in the end a people business, and also seeding means to invest in people. He examines how...................... To view our full article Click here
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