WEST PALM BEACH, FL (HEDGECO.NET) – Martin Currie asset management has successfully launched its seventh hedge fund. The new Japanese focused Diajiro hedge fund was seeded with US$130 millionaccording to Currie. The new fund was subsequently closed to new investors upon launching, according to a manager with the portfolio.<\/p>\n
Earlier statements by Martin Currie spokesman, said the company hopes to raise US$150 million at launch, however the fund raised U$130 million when it was officially launched September 2. The Daijiro hedge fund targets annual returns of 20% to its investors according to the released statements, while aiming at a range of 8-32%.<\/p>\n
Commenting on the new fund launch, Allan MacLeod, Martin Currie’s head of hedge funds, said “The addition of a second Japan fund is a natural extension to our existing range, and is in direct response to clients’ wishes\u00c3\u00af\u00c2\u00bf\u00c2\u00bd, adding, “This new fund continues our growth in the hedge fund business and brings proven talent to an area where investors’ demand is large.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
Martin Currie asset management firm invests in international equities for clients worldwide. Based in Edinburgh, Scotland, the firm manages about \u00c3\u00af\u00c2\u00bf\u00c2\u00bd7.7 (US$14.1) billion for a range of institutions, pension funds, pooled funds, investment trusts and charities according to information on the firm\u00c3\u00af\u00c2\u00bf\u00c2\u00bds website. Martin Currie\u00c3\u00af\u00c2\u00bf\u00c2\u00bds hedge fund investment portfolio has about US$1.0 billion in management assets.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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