mpittman@bloomberg.net

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Japan hedge fund returns assets to clients | FT

The lack of liquidity on Japan's stock markets has forced one of the largest hedge funds in Japan to return over half of its assets under management to its clients.

The Penta Japan Fund, which has operated in Japan for five years, has reduced assets under management from around $900m to $420m......

......the withdrawal or scaling back of the operations of a number of mid-sized foreign investment banks in recent months.

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