Sumitomo Mitsui Trust Holdings Inc. is liquidating a Japan-focused hedge fund after investors withdrew money following poor performance, according to people familiar with the matter, adding to the list of casualties as the industry suffers its biggest outflows since 2009.
The firm’s asset-management unit is liquidating its Sumi Trust Japan L-S I Alpha after client redemptions cut assets to just over $10 million, said one of the people, who requested anonymity discussing private information.
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