State Street Global Advisors plans to launch three hedge funds in the...

State Street Global Advisors plans to launch three hedge funds in the coming months: one based on European markets; one on Japanese markets; and a global fund offering a mix of U.S., European and Japanese options, said Michael Schoeck, who heads SSgA’s international equity area. SSgA already has launched a European long-short fund. Plans to start the Japanese and global funds are still in the works, Mr. Schoeck said; but after giving the euro time to get a foothold, SSgA believes now is the time to get into European hedge funds. The European fund will have a capacity of $1 billion; the minimum investment level is $10 million, although investors can pool as little as $1 million each, he said.