After the earthquake in Japan, the rumour mill buzzed.
Word is that hedge fund manager Hiroshi Ikeuchi bought earthquake insurance and made millions when the tsunami hit Japan.
Ikeuchi works at Singapore-based Halberdier Asset Management where he runs an event-driven hedge fund that invests in things that will do well if a certain event occurs.
In 2000 when the Nikkei plunged over 30%, for example, Ikeuchi made more than 60% returns, partly by investing in Japanese bonds.
After the earthquake in Japan, word of his investment in earthquake insurance made the rounds.
An investor tells us that Ikeuchi “made a lot of money,” when the earthquake hit. We weren’t able to get an exact number. But obviously, the trade panned out well.
Ikeuchi is on the board of CISD, a trading platform in Eastern Asia. He used to run a fund called PHIKOM, but later focused all of his efforts on Halberdier.
The name of his fund comes from “Halberd,” which is a lance, a medieval weapon with a hook or thorn on the back side of the axe blade that makes it quite adept at pulling people off of their horses.
“Halberdier” is also the name of a yacht.
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