TOKYO, May 17 (Reuters) – Japan’s top fund manager Nomura
Asset Management said it will halt new subscriptions to its $8.8
billion actively managed Japanese equities mutual fund, the
largest such equities fund in Japan, as it neared peak capacity
during a prolonged share rally.
Nomura Asset said the suspension of its Nomura Japan Brand
Equity Investment Fund would take effect on May 20.
TOKYO (Reuters) – Billionaire hedge fund manager Daniel Loeb says Sony Corp reminds him of Yahoo before he waged a bitter proxy fight that triggered a boardroom shake-out at the Internet company last year.
Loeb’s Third Point hedge fund has built up a $1.1 billion stake in Sony (6758.T: Quote, Profile, Research, Stock Buzz), making it the Japanese group’s biggest shareholder, and Loeb said on Tuesday he was pushing Sony to sell up to a fifth of its profitable music and movie business in a move he says would help turn around its struggling electronics business.
TOKYO (Reuters) – Billionaire hedge fund investor Daniel Loeb on Tuesday called on Sony Corp to spin off its lucrative entertainment arm, setting the stage for a clash between the activist fund and management at the Japanese electronics maker.
Loeb said his Third Point hedge fund had accumulated a little more than 6 percent of Sony’s shares – a stake worth $1.1 billion – making it the largest stakeholder in the inventor of the Walkman portable music player and Trinitron TV.
TOKYO (Reuters) – Japanese regulators have stripped U.S.-based MRI International Inc of its registration as an asset manager and may pursue criminal charges against the firm, accusing it of mismanaging client funds and falsifying reports.
The second such scandal in Japan in a year highlights the risks facing Japanese investors as they chase returns amid rock-bottom interest rates, and serves as a reminder of the need for them to better vet asset managers advertising yields consistently fatter than the norm.
TOKYO (Reuters) – When he woke up to news of a collapse in gold prices, Yujiro Yamashita, 63, made his way to Tokyo’s posh Ginza district to buy the precious metal for the first time in 20 years.
Yamashita and other contrarian, individual Japanese investors understand that gold is a volatile investment, but say that buying the precious metal is better than the alternatives.
TOKYO, April 10 (Reuters) – Japan’s Kokusai Asset
Management, the manager of the country’s biggest mutual fund,
will retain its high exposure to the United States in its $15
billion bond fund, but plans to keep its Japanese holdings low
after the central bank’s massive monetary expansion program
pummeled the yen.
Kokusai’s flagship Global Sovereign Open fund is also
looking for an opportunity to invest in some Asian currency
bonds after adding Singapore last year, but it was too early to
commit to any single country as yet, said Masataka Horii, the
fund’s chief manager.
TOKYO, March 14 (Reuters) – Dimensional Fund Advisors has
launched in Japan, a rare move for a large foreign asset manager
in recent years, and plans to pick up large public funds and
institutional investors as clients after clinching a mandate
with a big fund last year.
Its entry comes as Prime Minister Shinzo Abe’s reflationary
fiscal and monetary policies have triggered the yen’s fall to
3-1/2 year lows and a 45 percent surge in the Nikkei stock
average since November.
TOKYO, March 1 (Reuters) – Japan’s public pension fund, the
world’s largest, recorded investment gains of $56 billion in
October-December, its second best quarter on record, on the back
of strong domestic equities, while the yen’s fall helped boost
the performance of foreign assets.
The fund’s performance was helped largely by Prime Minister
Shinzo Abe’s aggressive reflationary fiscal and monetary
policies, which triggered the yen’s fall and lifted the
broad Topix stock index by almost 17 percent over the
three month period.
TOKYO, Feb 4 (Reuters) – Japan’s Government Pension
Investment Fund (GPIF), the world’s biggest public pension fund
with invesments mostly held in Japanese government bonds, plans
to sell 1.7 trillion yen ($18.4 billion) fewer assets to pay
pensions in 2013/14 than it sells this fiscal year.
GPIF Chairman Takahiro Mitani told Reuters in an interview
on Monday that the fund, whose portfolio of $1.2 trillion is
bigger than the Mexican economy, will review its long-term
investment target and portfolio allocation model around April.
TOKYO (Reuters) – Japan’s Government Pension Investment Fund (GPIF), the world’s biggest public pension fund with a $1.2 trillion portfolio of mostly Japanese government bonds, plans to sell 26.6 percent fewer assets to pay pensions in 2013/14 than in this fiscal year.
GPIF Chairman Takahiro Mitani told Reuters in an interview on Monday that the fund, which controls assets worth more than the Mexican economy, will review its long-term investment target and portfolio allocation model around April.