Performance

Sector Zen long book behind 6% return

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Long book contributors were behind the 6.32% gain for the Sector Zen Japanese long/short equity fund, taking its year-to-date performance to 23.14%. Outliers included Osaka-based retailer Pal which rose 70%, adding 1.2% to the portfolio’s return for the month. Another small-cap retailer, Sazaby League, contributed 0.5% after rising 20%.

Oslo-based portfolio manager Trond Hermansen has since tactically reduced net and gross exposure somewhat to have more firepower in case of a short-term pull-back after a very strong run. However, he remains very optimistic for the rest of the year, taking into account a low valuation on the fund’s