WEST PALM BEACH, FL (HEDGECO.NET) – Martin Currie investment boutique manager has announced plans to launch a new aggressive Japan hedge fund. The new fund, according to the released statements isneeded to compliment an existing Japan fund, which is more conservative in nature.<\/p>\n
According to a Martin Currie spokesman, the new strategy will be officially launched in September 2, 2004. Fundraising for the new portfolio will be aimed at the US $150 million range. Upon reaching such level the statement added, the new fund will be closed to new investors.<\/p>\n
The new fund is called, Daijiro, according to the released reports, an acronym in Japan, which means, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdVibrant second son.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd The Daijiro hedge fund will target annual returns of 20% to its investors, aiming at a range of 8-32%.<\/p>\n
The first Japanese hedge fund according to the firm\u00c3\u00af\u00c2\u00bf\u00c2\u00bds statements was launched in July 2003, and since its inception has returned about 39% to investors subscribing to the strategy.<\/p>\n
The Daijiro Japan fund will be using the long\/short equity trading model, and is the seventh of the firm\u00c3\u00af\u00c2\u00bf\u00c2\u00bds funds applying such strategy for its trading decisions. Fee structure and minimum investment requirements for the new hedge fund were not immediately made available.<\/p>\n
Martin Currie asset management firm invests in international equities for clients worldwide. Based in Edinburgh, Scotland, the firm manages about \u00c3\u00af\u00c2\u00bf\u00c2\u00bd7.7 (US $14.1) billion for a range of institutions, pension funds, pooled funds, investment trusts and charities according to information on the firm\u00c3\u00af\u00c2\u00bf\u00c2\u00bds website. Martin Currie\u00c3\u00af\u00c2\u00bf\u00c2\u00bds hedge fund investment portfolio has about US $1.0 billion in management assets.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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