Stratton Street Capital announced the launch of HX2 Fund from the
beginning of April. It will be managed by Dominic McEwan and Jeff
Atherton, who together have over 40 years combined experience in the
Japanese market. McEwan has managed the fund since its launch in 2000,
while Atherton joined him last year. It is a 2 x leveraged version of
the Japanese equity long/ short Himeji Fund which has returned
approximately 8% per annum at a volatility of 4%-6% since its inception
in 2000. Over the period the Nikkei has lost 8%.
The new fund is expected to deliver twice the returns of between 15%-20%
with volatility of 8%-12%.
Himeji is a stock-picking fund with a large cap bias. It is not active
in futures but makes equal performance out of long and short positions
historically whilst maintaining on average a net 15% long position. The
focus is very much on creating alpha rather than using beta.
“Himeji was designed as a low risk fund that gives good constant steady
returns over an extended period of time. Its returns have been earned
using an 85% balance sheet usage last year on average. That’s below peer
group average balance sheet usage. We consider HX2 will have a more
normal balance sheet use and will appeal to a different wider investor
base” commented Andrew Main, Managing Partner.
Launched with approximately $15m, it will review its capacity at $125m
and on an ongoing basis, he added.
The fund is yen based with US dollar and Sterling classes. It is
domiciled in Guernsey and listed on the Irish Stock Exchange
Stratton Street Capital LLP is a London based specialist Asian Alternate
Investment Manager with Synthetic Warrant Funds, Japan Long Short Funds
and Asian Fixed Income Funds. Current Assets under Management are around
$300 million. It is Authorised and Regulated by the Financial Services
Authority.
Tomoko Kenny
Marketing Manager
Stratton Street Capital LLP
10 Babmaes Street London SW1Y 6HD
Phone: + 44 20 7766 0888
Direct: + 44 20 7766 0824
Fax: + 44 20 7766 0860
