The flagship hedge fund of Fortress Investment Group is
betting on a further slide in the Japanese yen, predicting the new central bank
governor in Tokyo will step-up the pace of monetary policy easing, Reuters
reports.
The $3.2 billion fund has proved one of the most successful
macro funds - funds which bet on big shifts in the global economy and which are
among the best-known in the industry - returning almost 18 percent last year
when many top names shied away from bold bets and struggled to make money.
Wagering against the yen has proved profitable for many
hedge funds already this year, but Fortress believes the trade has further to
run....
No comments:
Post a Comment