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Opalesque Exclusive: Asuka Japan funds bounce back with strong February returns The Asuka Opportunities Fund reported a strong February return with 1.91% up net for the US$ Feeder average (YTD 2.61%) and 2.12% for the JPYen Feeder average (YTD 2.63%). In 2007, the US$ Feeders Average returned 7.18% net.

The Asuka Opportunities Fund was launched in September 2003 as a multistrategy fund with its focus on the Japanese markets. The Fund employs four strategy components: i) Japanese equity long/short strategy managed in parallel with Asuka Japanese Equity Long Short Fund, ii) Event driven strategy in the yen equity market, iii) Diversified macro strategy in equity, fixed- income and currencies and iv) Relative value strategy including fixed-income arbitrage and Japanese equity market neutral strategy. Capital allocation to each strategy will be changed opportunistically. According to Asuka, the Fund provides comprehensive diversified investments in the Japanese markets.

The Asuka L/S Fund had the following returns: US$ Feeder average: Net Return for February: 2.45% YTD: 2.53% JPYen Feeder average: Net Return for February: 2.77% YTD: 2.55%

The long/short fund was launched in September 2002, for 2007 it returned 13.65% in the US$ Feeders Average.

The Fund employs a long/short strategy in the Japanese stock market. Its main investment universe consists of large and medium market cap stocks listed on the major stock exchanges in Ja......................

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