Bloomberg – Samena Japan Absolute Return Fund, a four-month-old, Japan-focused hedge fund, is beating the Topix index, betting on companies with new management and growing industries, including recycling and elderly care.
The $17 million fund, which employs a so-called long-short strategy, has lost 2 percent since its inception at the end of July through October, compared with the 6 percent slide for the Topix, which the fund uses as its benchmark, in the period, Celia Farnon, co-manager of the fund, said. London-based Samena Capital, with total assets of about $300 million, plans to grow the fund’s assets to $100 million by the end of 2010, she said.
