Ed Rogers, CIO and CEO of Rogers Investment Advisors, a Tokyo-headqu
Ed Rogers, CIO and CEO of Rogers Investment Advisors, a Tokyo-headquartered fund of funds advisory firm that specializes in Japanese-focused funds, wrote to investors of Wolver Hill Asset Management earlier this month following the devastating events of 11 March reported FINAlternatives this week. In the letter obtained by Dow Jones Newswires, Rogers said that he believed “we have a good chance to salvage what once looked like a disaster of a month” as Japan’s stock market “continues to stabilize”. Rogers’ firm advises New York-based Wolver Hill on its Japanese FoF portfolios, conducting due diligence and risk monitoring. Rogers told investors that the firm had been communicating with all of its fund managers constantly. “Almost every one of them has improved on their performance for the month,” wrote Rogers, adding at the time, “we have almost two more weeks to improve on our returns for the month.” Interestingly, hedge funds have switched their positions on Japan following the earthquake. Prior to events, many were bearish on the Nikkei 225, holding USD330million in short positions in Nikkei futures according to figures released by Societe Generale. By March 22nd, this figure had flipped to USD464million in net long futures. Rogers could well have every right to be optimistic as Japan begins to rebuild.