A former fund manager at Morgan Stanley Asset & Investment Trust Management is planning a Japan-focused hedge fund.
Bloomberg reported that the new fund from Tsukasa Shimoda will start trading on April 1 with about $11 million in initial capital. The fund, which is aiming for a 15% to 25% annual return, will utilize a long/short equity strategy and bet on rising and falling stocks in Japan.
The fund will cap at around $212 million.
Shimoda left Morgan Stanley in 2009 and has managed his own money since through Galleyla Investment, the company he set up.