Bloomberg – Fivestar Asset Management Co., a Japanese investment firm, plans to start a dollar-based hedge fund that will invest in Japanese stocks, amid growing interest in the market from foreign investors.
Fivestar is seeking to raise 10 billion yen ($98 million) within a year for both the new fund and its existing yen-denominated Shinbi Japan Equity Long Short Fund, said Masamitsu Ohki, who runs the strategy. The Japanese currency-based fund started at the end of March with 1 billion yen and the return was about zero in the first two months, he said.
