{"id":9709,"date":"2009-01-26T00:00:00","date_gmt":"2009-01-26T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"sparx-to-miss-march-2011-asset-target-on-market-rout","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/01\/2009\/sparx-to-miss-march-2011-asset-target-on-market-rout.html","title":{"rendered":"Sparx to Miss March 2011 Asset Target on Market Rout"},"content":{"rendered":"<p>Bloomberg &#8211;&nbsp;Sparx Group Co., Asia&rsquo;s biggest hedge-fund manager, will likely miss its asset management target of 5 trillion yen ($57 billion) by March 2011 because of redemptions and losses amid the global market rout. <\/p>\n<p>The firm has cut costs to counter the biggest market losses since the Great Depression, an effort that hasn&rsquo;t prevented its total assets under management shrinking to 753 billion yen as of Dec. 31 on a preliminary basis, or about a third of the peak of 2 trillion yen in August 2006. <\/p>\n<p>&ldquo;Realistically, it&rsquo;s going to be extremely tough&rdquo; to meet the target, Shuhei Abe, the chief executive officer of the Tokyo- based firm, said in an interview on Jan. 23. &ldquo;There is still room to cut more costs, while we also have to prepare for other unexpected events going forward.&rdquo; <\/p>\n<p><a title=\"Read Complete Article\" href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=newsarchive&#038;sid=a0dA6DWMKtAw\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg &#8211;&nbsp;Sparx Group Co., Asia&rsquo;s biggest hedge-fund manager, will likely miss its asset management target of 5 trillion yen ($57 billion) by March 2011 because of redemptions and losses amid the global market rout. The firm has cut costs to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[6310,249,1007,64,5390,6311,6307,6312,37,6306,3060,4325,1494,6308,4826,236,6309,899],"class_list":["post-9709","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-abe","tag-asset-management","tag-assets-under-management","tag-bloomberg","tag-chief-executive-officer","tag-global-market","tag-great-depression","tag-hasn","tag-hedge-fund-manager","tag-management-target","tag-market-losses","tag-redemptions","tag-rout","tag-sparx","tag-tokyo","tag-trillion","tag-unexpected-events","tag-yen"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9709"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9709\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}