WEST PALM BEACH, FL (HEDGECO.NET) – Martin Currie asset management has successfully launched its seventh hedge fund. The new Japanese focused Diajiro hedge fund was seeded with US$130 millionaccording to Currie. The new fund was subsequently closed to new investors upon launching, according to a manager with the portfolio.
Earlier statements by Martin Currie spokesman, said the company hopes to raise US$150 million at launch, however the fund raised U$130 million when it was officially launched September 2. The Daijiro hedge fund targets annual returns of 20% to its investors according to the released statements, while aiming at a range of 8-32%.
Commenting on the new fund launch, Allan MacLeod, Martin Currie’s head of hedge funds, said “The addition of a second Japan fund is a natural extension to our existing range, and is in direct response to clients’ wishes�, adding, “This new fund continues our growth in the hedge fund business and brings proven talent to an area where investors’ demand is large.�
Martin Currie asset management firm invests in international equities for clients worldwide. Based in Edinburgh, Scotland, the firm manages about �7.7 (US$14.1) billion for a range of institutions, pension funds, pooled funds, investment trusts and charities according to information on the firm�s website. Martin Currie�s hedge fund investment portfolio has about US$1.0 billion in management assets.
Paul Oranika
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