Carl Huttenlocher's Myriad Asset Management has set up a hedge fund focusing on opportunities arising from Japan's efforts to end deflation, people with knowledge of the matter have said.
Myriad, which oversees more than $4 billion in assets, started its second fund on March 1 with internal money and has approached potential investors, said one of the people who asked not to be identified as the information is private.
The Myriad Japan Reflation Fund will invest in assets including stocks, equity indexes, interest rates and currency whose valuations are expected to be affected by the country's exit from deflation, the person added. Its equity investment will be focused on financial companies. Sam Guinness, a Hong Kong-based investor relations officer at Myriad, declined to comment by email.