New paths open up for Japanese investors as old and new contrast

The contrast between old and new companies in Japan has created avenues of investment for Japan long/short hedge funds that managers say will increase as competition grows.Managers focusing on the Japan market, whose long-only benchmark Topix index has fallen 28% in the 12 months to 21 April, according to Bloomberg figures, add that government intervention in Japanese industry could create further possibilities for gain.A prevailing theme in the three months to mid-April has been the outperf