Sparx flies to Triple A for distribution

Japanese alternative fund management firm Sparx Asset Management will market and distribute its hedge fund products through Paul Smith's Hong Kong-based Triple A Partners.

Sparx joins a list of firms to have struck similar agreements with the seeding and distribution firm; they include Hatfield Advisers, Lanterne Strategic Advisers, Reech AiM and the VAM series of funds.

A spokeswoman for Triple A says Sparx is not handling the marketing and distribution of its products in-house, because each wing of the PMA/Cosmo/Sparx (and Sparx fund of funds) stable is responsible for the distribution of its own products.

As we reported late last year, Smith's seed temporarily dried up at Triple A. However, it received a stimulus recently, with the news that he has shacked up with Ronnie Wu and Natalie Cruz at Penjing Asset Management.

Pursuant to that, the Penjing Seed Fund was renamed the Penjing Triple A Partners Emerging Managers Fund. Penjing is the investment manager responsible for finding the managers, and Triple A is a co-investment advisor responsible for the marketing and helping with structures.