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Bloomberg – The Children’s Investment Fund Management UK LLP, a $9.5 billion U.K. hedge fund, cut its short positions in Japanese stocks including Toshiba Corp. by almost $1 billion in less than two months, exchange filings show.
The London-based fund, also known as TCI, had about $248 million worth of short positions in 12 Japanese stocks, data based on exchange filings compiled by Bloomberg show, compared with about $1.2 billion on April 3.
TCI reduced its short positions in eight of 13 stocks including Sharp Corp., Japan’s biggest maker of liquid-crystal- display televisions, and Mizuho Financial Group Inc., Japan’s second-biggest bank by revenue, according to filings since April.
Bloomberg – The Children’s Investment Fund Management UK LLP, a $9.5 billion London-based hedge fund, has about $1.2 billion of short positions in Japanese stocks including Toshiba Corp., according to exchange filings.
The fund, better known as TCI, has shorted 13 Japanese stocks, data based on exchange filings compiled by Bloomberg show. Mizuho Financial Group Inc., Japan’s second-biggest bank by revenue, and Sony Corp., the world’s second-biggest consumer- electronics maker, are also among the short positions.
The bets against Japanese stocks by activist fund TCI, which lost a proxy battle with Japanese utility Electric Power Development Co. last year, come as the Nikkei 225 Stock Average completed its worst fiscal year since March 2001, losing 35 percent. TCI’s fund fell 43 percent in 2008, as global hedge funds were battered by client withdrawals and the worst market losses since the 1930s.
