Northwest Warrant Fund Returns 203% This Year on Japan Trades

Northwest Warrant Fund Ltd., the best-performing equity hedge fund tracked by Bloomberg in the past year, returned 203 percent in the first 10 months betting that Japan’s stimulus will bolster stock prices.

The $32 million fund has investments in almost $500 million worth of convertible bonds, said George Philips, chief executive officer of Northwest Investment Management (HK) Ltd., which runs it. More than 80 percent of its investments are tied to Japan and Northwest plans to keep it at that level, he said.