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Ed Rogers Says AIJ Declined Business After Due Diligence Request

Ed Rogers, chief executive officer of Tokyo-based Rogers Investment Advisors, speaks on Bloomberg Television from New York about AIJ Investment Advisors Co., the Japanese fund management firm that was suspended for possible losses.

“We were introduced to AIJ over a year ago, and when we expressed interest in doing due diligence on them, they came back and said ‘We don’t want you to do due diligence. We’re not interested in anyone who has any foreign investors.’ The reality is people like AIJ won’t let us come in the door.”

On the impact of the AIJ issue:

“This is a very serious incident, no doubt about it. But I think it needs to be taken within context.”

“A $2 billion fund that has a problem in the context of a multitrillion-dollar asset management industry is not exactly like the whole house is burning down.”

The incident highlights “the importance of investors doing appropriate due diligence.”

“There are under-funded pension funds throughout the world.”

“You have to make risky investments, and hedge funds are one of the best ways to do that.”

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