Hong Kong-based Nezu is positioning its Nezu Kuma Fund, a rather unique short biased Japan equity strategy, as an alpha-focused, well risk managed way for investors to hedge their portfolio and reduce their volatility. The fund has been attracting significant investor attention of late as it offers a way of being structurally short a market in a long-term downtrend, providing an uncorrelated source of absolute returns.
Nezu began running the strategy in June 2007, launching it as a fund in August 2008. The strategy generated 16% in its first seven months and was up 55% for 2008. The rally