Former Morgan Stanley executive Tsukasa Shimoda’s hedge fund Galleyla Investment got off to a strong start in its first year.
Bloomberg Businessweek reported that the Japan-focused firm returned 18% last year, outperforming peers on stock bets. Shimoda, who was the Japanese manager at Morgan Stanley Asset & Investment Trust Management, launched Galleyla in April 2013.
The fund, which invests in the stocks of more than 150 undervalued Japanese companies, benefited from shorting Nikkei 225 futures and through investments from an overseas fund of hedge funds.
Galleyla currently manages about $17 million in assets, up from its initial capital of about $6 million.