Hedge Fund GCQ Up 30% a Year Bets on Japan Cloud Software
- CIO Tynan says Money Forward can surge fivefold in five years
- GCQ’s concentrated fund is invested in about 20 stocks
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GCQ Funds Management is looking to build on its 30% annualized gain since launching two years ago by betting that players in Japan’s cloud accounting industry can keep raising prices.
The Sydney-based firm’s flagship long-short equity fund topped up its position last month in Money Forward Inc., the small-cap it believes can jump fivefold in the next five years as regulations prompt businesses in Japan to hold electronic receipts. It’s also sold out of positions in ratings-agency duopoly Moody’s Corp. and S&P Global Inc., saying investor expectations had caught up with strong performance.