Mellon seizes Japanese market

A fund that aims to capture the opportunities in the Japanese market via a fund of Japanese hedge funds is being launched by Mellon Global Alternative Investments. The Mellon Nippon Absolute A fund hopes to deliver returns over 10% per annum.

The fund of hedge funds is planned for launch in December and will be the third fund of funds in Mellon Alternative Global Investments' range.

The Japan fund will carry a 1.5% management fee and a performance fee of 5% of profits in excess of a hurdle rate,