Bloomberg – Tsukasa Shimoda, a former fund manager at Morgan Stanley Asset & Investment Trust Management Co., will start a Japan-focused hedge fund amid increased appetite for the world’s second-largest equity market.
The UMJ Galleyla Fund will start on April 1 with about 1 billion yen ($11 million) in initial capital including money from an overseas fund-of-hedge-funds, said Shimoda, who runs the strategy. The long-short equity fund will bet on rising and falling stocks in Japan and will target an annual return of 15 percent to 25 percent, he said.
