State Street launches Japanese long/short fund

State Street Global Advisors in Tokyo is launching a market-neutral long/short Japanese equities fund on March 29 aimed at Japanese institutional clients, mainly pension funds. The vehicle, which has already garnered Y2 billion in commitments from clients, is the first alternative investment fund that SSGA Japan will market and manage, says Eric Michel, president. It reflects an ongoing strategy by SSGA to build a flexible and integrated structure of funds for Japanese clients.