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Martin Currie acquires London based long/short Japan equity hedge fund

Wednesday, January 06, 2016
Opalesque Industry Update - Martin Currie, the active equity specialist, confirms that following its announcement on 17 November last year, it has now received the necessary approvals to complete the purchase of the business assets and investment management team of PK Investment Management, the London based long/short Japan Equity boutique.

Led by Paul Kirkby, this is one of the most experienced teams in this specialist category and his team is further enhanced with the addition of Martin Currie incumbent manager, Claire Marwick. Overall assets under management for the enlarged team are US$425 million.

Paul Kirkby has also been appointed as lead manager of the Legg Mason Japan Absolute Alpha Fund the Luxembourg domiciled UCITS fund.

Andy Sowerby, Head of Sales and Marketing at Martin Currie comments, “This is an exciting milestone in the development of our Japanese long/short capability. By capitalising on the combined strength of our collective resources we can further establish ourselves as a leading manager in this specialist area. Paul has over 30 years’ experience in managing Japanese equities and is backed by a proven team who together have combined experience of the Japanese market in excess of 97 years.”

Paul Kirkby comments, “We are delighted to be joining Martin Currie at this particularly interesting time. Japan has now recorded four consecutive years of gains and it will be interesting to see if this trend can be continued in 2016. Whilst the stock market has doubled from the 2012 lows, profits have grown at the same pace and thus valuations are not as stretched as might be expected. With supportive central bank and government policies in place, allied to improving corporate governance helping drive further balance sheet efficiency, we see a continued positive backdrop for investors, provided that global economic conditions do not deteriorate meaningfully in the year ahead. ”

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