Millennium Alumnus Iwami Sees $150 Million for Macro Hedge Fund
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Naoki Iwami, a former managing director at Millennium Capital Management in Tokyo, expects to raise about $150 million by the end of March for his hedge fund that invests in bonds and currencies.
The Whiz Rock Global Macro Investment Fund, with about $50 million, has returned about 1 percent since inception in August, said Iwami, executive vice president at Tokyo-based Whiz Partners Inc. Insurers, pensions and regional banks in Japan have invested in the fund and fund-of-hedge funds at home and abroad are now showing interest, he said. His performance outpaces a 0.58 percent gain by the Eurekahedge Pte index that tracks similar funds.