Martin Currie is launching a Japan Absolute Return fund on 1 July, representing the first portfolio ...
Martin Currie is launching a Japan Absolute Return fund on 1 July, representing the first portfolio in a possible family of hedge funds to be offered by the independent Scottish fund manager.
Allan MacLeod, director of offshore funds and investment trusts at Martin Currie, said the fund would be Bermuda domiciled, Dublin listed and dollar denominated.
Martin Currie will also look to launch other geographic hedge funds in the future, including portfolios that invest in Europe and Asia. MacLeod said there are many reasons for starting the hedge fund family with a Japan portfolio, the major of those incentives being the strong performing Japan team at Martin Currie, headed by Michael Thomas.
This fund is likely to contain around 40 long stocks, and a more concentrated number of shorts.
The Japan Absolute Return Fund has a minimum investment level of $100,000 and $10,000 thereafter. There is a 1% annual management charge, plus a 20% performance fee on absolute returns.
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