It will be run by the team who manage the firm's Japan fund, with the specific portfolio manager being Keith Donaldson.
The dollar-denominated fund, which hedges 100% of its yen exposure back to dollars, was launched on 1 July with an NAV of $10 per share, which by 13 September had risen to $11.28.
Its short positions performed well in July, as the fund gained 0.02% while the Topix fell by 11.5%. In August the fund was up 6.3%, slightly underperforming the market, which rose 6.9%. This was du