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Nezu Kuma ‘Tiger Cub’ fund gains 10 per cent in March

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March was understandably a tough month for Japan-focused hedgies.

March was understandably a tough month for Japan-focused hedgies. Overall, according to the latest figures released by Eurekahedge, Japanese funds finished the month down 0.86 per cent: but when you consider that the Nikkei 225 plummeted 23 per cent at the height of the disaster, albeit going on to recover to finish the month down 8.5 per cent, this translated as a 7.64 per cent outperformance. Even more remarkable then, that Nezu Kuma, a Japan ‘Tiger Cub’ hedge fund seeded by industry legend Julian Robertson, generated 10 per cent net returns. In doing so eradicating losses in the first two months to finish up 6.2 per cent for Q1 reported Reuters this week. Hong Kong-based Nezu Asia’s CEO, Richard Kincaid confirmed that another Japan-focused fund managed by the firm had ended March up 6.6 per cent to leave it at 12.5 per cent YTD. These figures are way ahead of market performance in the region. Although Japan has had a reasonable start to 2011, up 2.5 per cent YTD, Asia ex-Japan fund managers have found market conditions tough: YTD they’re down 0.63 per cent. Kosuke Ikeda, Nezu Asia’s New York-based director of marketing was quoted as saying: “The funds have done well recently through a combination of strong risk management and our ability to quickly leverage fundamental company knowledge to take advantage of mis-pricings kicked up by volatile market conditions.” Nezu Asia received USD50million in seed capital from Robertson’s Tiger Management investment group back in January, some of which went to the USD25million short-biased equity Nezu Kuma fund.

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