MW TOPS bucks the negative trend in Japan


Japan long/shorts struggled in February as TOPIX fell by 4.7%, dipping to lows last seen in the 1980s.

Marshall Wace Japan TOPS bucked the overall negative trend with a 2.21% February bringing three month numbers to 7.53% and the Hadoh Fund returned 1.14% on the month putting three-month returns at 8.03%.

Despite being net long Arcus Zensen managed to achieve a 0.7% return on the month bringing three-month numbers to 5.38%. Manager Robert Macrae saw shorts in two internet companies - a social networking service and an internet stockbroker - paying off while long positions in medium and small