WEST PALM BEACH, FL (HEDGECO.NET) – Warren Buffett, the world second richest businessman after Bill Gates, has a enthusiastic following of investor\/fans. Shuhei Abe, founder and chief executive of Sparx Asset Management in Tokyo, is so fond of the investing philosophy of the billionaire, that every Friday at 7 a.m., he gathers 20 of his analysts for a mandatory two-hour study session over coffee. He calls it the \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cBuffett Club.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d<\/p>\n
Abe says that he has adapted the \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cdiversify\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d strategy of Warren Buffett, the chairman of Berkshire Hathaway, and it has helped him win mandates from the world\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s biggest pension funds and create the largest hedge-fund manager in Asia.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009dThe principles of Buffett are more true here in Japan\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d than in the United States, said Abe in a interview with AsianInvestor \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cBecause the market is inefficient, you look to unlock value.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d <\/p>\n
The $2 billion Sparx Value Creation Fund, for instance, has investments in Shimano, the world\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s No.1 bicycle- parts maker, and Tsumura, which controls almost 90 percent of Japan\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s market for Chinese herbal medicine. In the past six months, both have outperformed the benchmark Topix market indicator, which is down 8.5 percent. <\/p>\n
According to figures from AsiaHedge, the fund has more than $8 billion of the total in hedge fund-related assets, which make Sparx the largest hedge-fund manager in Asia. Abe points to Tsumura ($1.76 billion) and Shimano (36 million shares), two of his earliest investments for the Value Creation Fund and companies he has also used as model cases for his \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cBuffett Club\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d sessions. <\/p>\n<\/div>\n
Alex Akesson
Contributing Writer
HedgeCo.Net
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