Nick Bird¡¯s OQ Funds Management opened a Japan quantitative hedge fund in September. Within weeks, it raised the maximum $250 million and had to turn away additional money, the former Macquarie Group veteran said.
Meanwhile, Sengu Capital¡¯s hedge fund tapping improving corporate management in Japan has tripled assets to $450 million after trading began in early October, said people familiar with the Hong Kong-based firm. A multi-strategy Japan fund that York Capital Management spinoff MY.Alpha Management opened to external clients in early 2023 now oversees about $700 million.
Their pace of asset gathering, impressive for Asia hedge funds of any stripe these days, highlights how Japan¡¯s deepening corporate governance reforms and exit from more than a decade of deflation have rekindled global investor interest in the world¡¯s fourth-largest economy. It also underscores the dearth of Japan-dedicated funds that have good track records and are able to take sizable amounts of money from large institutions.
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