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Article: Growth industry; Hedge funds in Japan.(Japan's flourishing hedge funds)
- Article from:
- The Economist (US)
- Article date:
- March 22, 2003
CopyrightCOPYRIGHT 2003 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Despite official frowns, Japanese hedge funds are on the rise
JAPANESE officialdom views hedge funds with deep suspicion. Some politicians and civil servants think all hedge funds are evil short-sellers, selling borrowed shares in the hope of buying them back at a lower price. They blame hedge funds for the latest tumble in Tokyo's stockmarket, which this month has touched 20-year lows (see chart). Yet despite official enmity, hedge funds focusing on Japanese equities have been growing in both size and number. There were about 50 at the start of last year. Now there are more than 70.
It is difficult to nail down the exact size of hedge funds' positions. ...