Japanese fund of hedge funds has a second success

Investor Select Advisors and Shinsei Bank raise $50 million for Japanese fund of hedge funds.

Investor Select Advisors ISA has announced the close of the second tranche of the Shinsei Protected Japan Trust, a yen-denominated, multi-strategy fund of funds focused primarily on the Japanese market. ISA created the trust for Shinsei Bank to distribute to its high-net worth Japanese investors. Approximately $50 million has been raised and is now being managed by ISA for the Shinsei.

The Shinsei Protected Japan Trust was launched on February 1, 2003 with approximately $30 million raised during the first tranche in December and January. During the first quarter, the trust outperformed the Topix index by 5% and the Nikkei 225 by 6%.

Continued demand led to the opening of a...

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