Akihiro Niimi graduated from the naval architecture division of Osaka University; he has spent more than 25 years in the financial industry working in different types of businesses (brokerage, investment bank, trust bank and asset management) and also different regions (London, Tokyo, New York and Singapore). He initially started his career as a technical and fundamental equity analyst and managed several hedge fund type portfolios to achieve absolute returns with various quantitative tools and techniques in asset management companies.
Since the Lehmann crisis, Commodity Trading (using Futures and Options etc.) has become one of the most successful alternative strategies. However, ?start-up? CTA managers have been facing large hurdles to raise new money. This is not only because of their small asset base under management and limited staff, but also because of less transparency due to their ?black box? type tools. Many employed fund managers are wishing and planning to become independent based on a ?high performance? successful track record. But they might not be fully and carefully considering the ?investment strategy? necessary to fill the supply and demand gap between managers and investors. Past track records might indicate future performance but may never guarantee the growth of the business. What is missing except performance? Let us verify the background of the current CTA boom and examine the investment processes developed by famous managers. An excellent track record is one of the key factors to raise the money, but the investment strategy is more important to grow the asset management business.