Bloomberg – Japanese hedge-fund startups are beginning to attract the interest of overseas investors as the nation’s industry has the best performers this year, according to Futoshi Ago at Bank of America Corp.
New hedge funds set up by managers with “long track records with good performance” at their former jobs and strategies focusing on trading skills to profit from rapidly changing markets are luring clients, said Ago, who heads Merrill Lynch Japan Securities Co.’s prime brokerage business in Tokyo. Demand is coming mainly from Asian investors including funds of hedge funds and family offices, he said.
