Masahiro Koshiba looks forward to making money in a bear
market, as he has for the past three recessions, using market
awareness, a focus on intrinsic value and strong risk
In the current climate, it takes a seasoned manager with a
lot of confidence to set up a new long/short equity fund.
Perhaps Masahiro Koshiba, chief executive officer of United
Managers Japan (UMJ) was trying to tell the industry something
about better times ahead when he chose Kotoshiro as the name
for his new Japan long/short equity fund. Kotoshiro is a
Japanese god who is associated with Ebisu, the god of good
The UMJ Kotoshiro fund was launched in November 2008, and has
had a decent start, up 1.45% in December and 2.3% in January.
Koshiba had been away from direct fund management in 2006 and
2007, and decided it was time to...