Japanese bank launches internal Asian hedge fund

Mizuho hires ex-ING trader to run Asian CB arb fund.

Mizuho Securities Asia will soon launch an internal Asia ex-Japan CB arbitrage fund, which it will incubate with proprietary capital.

Katsuo Okuno, Mizuho's Hong Kong-based managing director and chief executive, expects the fund to open to outside investors after developing a one-year track record. He predicts that Japanese institutions as well as high-net worth individuals will be interested in the product. In addition, he says that European and US institutions looking for diversity among the equity longshort landscape in Asia would also find the fund attractive.

Okuno explains that the driving rationale behind the new fund is Mizuho's desire to diversify its exposure beyond Japanese yen...

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