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 controls
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 fortune.
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...