Stenham Asset Management has launched its first Japanese yen (JPY) share class in its Stenham multi-strategy fund. This complements the existing US dollar, euro and sterling share classes.
The fund is described by the firm as a globally diversified multi-strategy hedge fund of funds with around 40 managers, a targeted return of libor +5% and an annual volatility of less than 4%. The minimum investment is ¥5 million with monthly liquidity and no lock up period.
“The launch of the JPY share class is in response to demand from our institutional clients looking to have exposure to this currency,” said Kevin Arenson,
chief investment officer, Stenham, in a statement. “Over time we expect Asian currencies to revalue against Western currencies and for investors to benefit from this revaluation.”