April 21 (Bloomberg) - Go Horiuchi, a former trader at Nomura Holdings Inc., led a 5 percent return with his hedge fund that invests in the options in Nikkei 225 Stock average in March, caused losses of earthquake record of the Japan of alteration.
The Gamma strategy Fund Asia developed, led by Singapore - based Alternative Pte of advisers, began on 1 September with "a few million dollars", aims to increase the size of the Fund of approximately 10 billion yen ($121 million) at the end of the yearsaid Managing Director Ken Fukui. Sherp is in talks with Japanese financial institutions begin to sell the funds locally, he said, refusing to elaborate saying talks are private.Return of March of the Fund compared with slide in the Nikkei 225 Stock average by 8.2% last month a magnitude 9 temblor and the tsunami that ensued crippled a nuclear power plant, creating the worst disaster in the Japan since the second world war. The Fund invests in highly - traded Nikkei 225 Options listed on the Osaka Stock Exchange and limits the losses by trading in derivatives - which give the right, but not the obligation, to buy or sell a security at a fixed price and the dateFukui said. "We are in an interesting period where it is necessary to expect the unexpected as we saw with the disaster in the Japan," Fukui, 48, said in an interview yesterday in Tokyo, where he is on a business trip. "" " Investments to buy downside protections before the earthquake contributed to the return in March. "Volatility SurgesSherp attempts to capture the demand of investors who seek to use the options to protect against loss in their portfolios and increase yields. Investors use options of is to protect against fluctuations in the price of securities that they have to speculate on the price of the action moves or bet that volatility will increase or decrease.The Nikkei Stock average Volatility Index, a gauge of price of the option Japanese, almost tripled in two working days after the earthquake on March 11 to a maximum of two years of 69.88, while the Nikkei 225 fell the most since 1987.The March gain developed Asia Gamma strategy of the Fund also beaten 0.2% return by Hedge Fund Eurekahedge index, which tracks funds more than 2,600 worldwide.Fukui - whose former stays include investment officer head of GCI Asset Management and Fund to Sparx Group Co - and Horiuchi Manager, 35, a former Nomura, derivatives trader in place of the Alternative advisors in January 2010. "" The Fund aims to win a place where investors will be see as a good protection for the downside risks, "Fukui said.-Editors: Malcolm Scott, Linus Chua.
To contact the reporters on this story: Tomoko Yamazaki in Tokyo at the tyamazaki@bloomberg.net; Komaki Ito in Tokyo at the kito@bloomberg.net
To contact the editor responsible for this story: Andreea Papuc on apapuc1@bloomberg.net.
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