GLOBAL - European hedge fund manager Aspect Capital has unveiled its first Japanese equity fund.
The new fund, a long/short equity strategy started trading on January 15 with around US$15m seed capital from an undisclosed institutional investor.
Aspect aims to deliver average returns of 10%-15% per annum, with low levels of risk by combining value, growth and momentum models to identify over- and undervalued stocks.
The fund invests in Japanese large-caps and will take approximately 80 positions, with an even split of longs and shorts.
Commenting on the new fund, Alastair Smith, Aspect’s sales & marketing director, said: “A return of over 54% (net of fees) in the Aspect European Equity since inception (in October 1999) demonstrates Aspect’s ability to generate excellent returns in difficult market conditions.
“We believe that our strategy will be highly successful in the Japanese equity market and we look forward to providing investors with consistent returns.”
The fund is available to non-US clients and has a minimum subscription level of US$100,000.
Aspect Capital has been managing alternative investments for institutions and high net worth worldwide since 1997 when it was founded by Anthony Todd, Eugene Lambert, Martin Lueck and Michael Adam. All four were key figures behind the development of hedge fund manager Adam Harding and Lueck (AHL) which is now part of the Man Group.
The firm currently manages US$1.5bn from its London headquarters.
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