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Fortress hedge fund bets yen slide has further to run

Reuters – The flagship hedge fund of Fortress Investment Group is betting on a further slide in the Japanese yen, predicting the new central bank governor in Tokyo will step-up the pace of monetary policy easing.

The $3.2 billion fund has proved one of the most successful macro funds – funds which bet on big shifts in the global economy and which are among the best-known in the industry – returning almost 18 percent last year when many top names shied away from bold bets and struggled to make money.

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