State Street alts unit shutters Japan strategy

SSARIS, an alternatives affiliate of State Street Global Advisors, has closed its Japan fund of hedge funds, apparently due to low assets. The SSARIS Multi-Manager Japan Equity Fund is thought to have had about $10 million in AUM at the time of closure, with negative returns of -3.16% in the first six months of 2012 and -1.83 % from its 2005 inception to June last year. A State Street spokesperson confirmed the fund’s closure, but declined to provide further details. It was amon…