Numeric Investors is taking its investment strategies international with a Japan-only long-short or market neutral fund Oct. 1. The firm hopes to raise $100 million initially from investors, and could accept up to $500 million, said Langdon B. Wheeler, president.
The Japanese long-short fund, which will seek to make money from picking winners and selling short stragglers, will aim to earn a return (net of fees) of six percentage points in excess of the return on Treasury bills, he said. Robert Furdak, who joined the firm last fall, will manage the fund.
The firm hopes to offer similar U.K. and European (developed markets only) long-short funds within a year, Mr. Wheeler said.