Bloomberg – T&D Asset Management Co., with about $27 billion in assets, closed its Japan-focused hedge fund because of higher-than-expected trading costs and returned money to clients, according to four people familiar with the matter.
The T&D Japanese Equity Long & Short Fund shut at the end of September after starting in June 2010 with about 700 million yen ($9.1 million) from T&D Asset, the fund management arm of Japanese insurer T&D Holdings Inc. (8795), the people said, asking not to be identified because the information is private. Hisakazu Amano, who heads the investment department at T&D Asset, declined to comment.
