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Opalesque Exclusive: Japan hedge fund, up 6% vs. market slump of 12%, sees `a few old, wise contrarians` and value funds allocating to Japan
Tokyo-based Tozai Advisory, run by Angus McKinnon and Masayo Kamano, says its Japan hedge fund was up 6%, whereas the market dropped 12%, resulting in an out-performance of 18% for 2007. McKinnon said it seemed that no one would care about Japan, "only a few old, wise contrarians." The firm would now also be getting some interest from value investors.
Angus McKinnon was previously research director at Prospect Asset Management in Tokyo and took over Singapore-based Trident Pacific Capital, of which he is majority owner, in 2005. He is president of Tozai Investment Advisory in Tokyo, which provides investment advice to Trident. Corporate website: www.tozai-advisory.com
Related News: Pensions split Japan / Asia ex-Japan, but brokers see no outflows from Japan
From GlobalPensions.com: Asset managers have seen a trend of European pension funds splitting regional allocations to Asia, following poor performances in Japan.
Charles Beazley, president of Nikko Asset Management, told Global Pensions there were some clients who had questioned whether the firm they had hired was capable of doing both Asia ex-Japan and Japan.
“It is lazy intellectual thinking to assume because a firm is good at picking stocks in one Asian country it will be good a...................... To view our full article Click here
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