Bloomberg – Sumitomo Trust Finance (H.K.) Ltd., the asset-management unit of Japan’s fifth-biggest bank, will start a new multi-strategy hedge fund that invests in Japanese stocks, index options, futures and credit-default swaps.
The Tactical Equity Concepts-Japan Fund, also called TEC- Japan, will start June 29 with 10 billion yen ($105 million) of seed money from parent Sumitomo Trust & Banking Co., said Kota Murakami, the Hong Kong-based head of Sumitomo Trust Finance’s investment management group. The fund aims to raise assets to as much as 60 billion yen over the next couple of years, he said.
