Woodbine Capital Predicts Further Yen Gains as Dollar Strengthens

Woodbine Capital is one of the big gainers from long Japanese equities and short yen trades. Returns were up in four out of five months this year, compounding a total return of 9.6 percent till the end of May. The fund gained a 2 percent return in May by hedging its exposure in Japanese equities with put options on the NIKKEI 225 (INDEXNIKKEI:NI225) index. Last month, Woodbine Capital incurred the largest losses in its fixed income strategies as bondholders were punished by Fed’s unwelcome comments, while making biggest gains in forex strategy. The fund’s latest letter does not comment on its…