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Asset Growth Expected for Japan Long/short Equity

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TOKYO (–The head of Orion Investment Managers, Yuji Tsukagoshi, expects the firm’s new long/short equity hedge fund to more than double in size to US$11 million in February.

The fund, Orion Japan Absolute Return Fund, is managed using fundamental analysis of midsize and large Japanese companies. Mr. Tsukagoshi said the US$4 million fund has received subscriptions from Swiss and U.K. family offices and funds of funds that should boost the funds size to the US$11 million level.

Prior to launching the fund in September, Mr. Tsukagoshi worked in the Tokyo office of Henderson Global Investors, a London-based investment manager. Currently, he is the sole investment professional on staff, but he will add an analyst once assets grow beyond US$30 million, he said.

The fund can go as much as 35% net short or 50% net long, but given market conditions, he said he’ll keep the portfolio within the band of 5% net short and 20% net long.

The fund is domiciled in the Cayman Islands, and uses the Bank of Bermuda as its administrator. Goldman Sachs is the prime broker, while legal counsel duties are shared by the Hong Kong office of Deacons and Maples and Calder, based in the Cayman Islands.

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