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130/30 flops in Japan

By Jame DiBiasio | 2 July 2008
Keywords: bgi | ubs | ssga | axa

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One problem is how to fit active extension mandates into legacy asset allocations, suggesting that support for these quant products might come from new institutions elsewhere.

2008 was supposed to be the year when the giant pension funds of Japan began to experiment with active extension structures.

So far, it hasn’t happened. And while fund managers flogging these quant products say it’s just a matter of time, the possibility that 130/30 strategies and their ilk never gain traction is something to consider.

Active extension structures, also known as 130/30 strategies and sometimes referred to ‘hedge funds lite’, are usually quantitative-based means of adding shorts to traditionally long-only equity mandates. They are meant to provide enhanced ...

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