UMJ Singapore has added a Japan-focused hedge fund to its Asia-Pacific strategy.
The firms US$12 million Kotoshiro Fund, a Japanese long/short equity offering, debuted in November and has returned over 3% in its first three months of trading. UMJs No.1 Fund, which launched in June 2005 and invests in Asian ex-Japan opportunities, dropped 29% last year and another 6.5% in January.
Kotoshiro charges a 1.5% management fee and a 20% incentive fee, with a $1 million minimum investment requirement.
UMJ is headed by Masahiro Koshiba, formerly of Deutsche Asset Managements large-cap investment team, and Edward Brogan, a former managing director of Tiger Management Japan.
L.D.