HSBC withdraws from Japan

非常にわかりにくいことが発生している。

http://www.hsbc.co.jp/1/PA_1_1_S5/content/pdf/120222_notice_en.pdf

http://www.hsbc.co.jp/1/PA_1_1_S5/content/pdf/120222_notice_jp.pdf

http://blog.livedoor.jp/donnjinngannbohnn/

http://blog.goo.ne.jp/akiko_019/e/22c64d1650d2940ba29c2096ef34ce25

http://www.businessweek.com/news/2012-02-27/aij-suspension-undermines-japan-pensions-hedge-fund-appetite.html

http://www.asahi.com/business/update/0225/TKY201202250247.html

http://www.businessweek.com/news/2012-02-27/aij-fund-reported-241-return-since-2002-on-options-bets.html

[(Followings are an excerpt of the article in the link above)

Wider Investigation

The Millennium fund invested in Nikkei 225 options and futures as well as private equity, using an index that AIJ created to gauge whether markets were overbought or underbought, according to presentation materials provided to a pension fund that were obtained by Bloomberg News. The undated presentation document didn’t name the pension fund.

AIM Investment Advisors Ltd. in the British Virgin Islands was listed as the manager of the fund, which was a private placement open-ended unit trust, and the fund was registered in the Cayman Islands, the 13-page document in Japanese said. Bank of Bermuda, a unit of HSBC Holdings Plc, was listed as the fund administrator. Margrit Chang, a Hong Kong-based spokeswoman for HSBC, declined to comment.

The investigation of the 263 asset managers is the biggest into the Japanese fund industry, according to a regulatory official, who asked not to be identified because the matter is sensitive. In a typical year, officials conduct routine inspections of about 15 asset managers, the official said. The funds themselves provide an annual report.]

ご参考まで。