Sparx shares jum 3.9 pct on Reuters scoop highligting new fund launch plans

Shares of Asia’s biggest listed asset manager Sparx jumped 3.9 percent, the most in nearly two months, after Reuters scooped the firm’s plan to raise up to $100 million in a new fund and grow firm’s assets to $9.5 billion over the next one year. The news, which came out of an interview of Sparx’s founder Shuhei Abe during the Reuters Japan Summit, also broke news that the firm was about to launch mutual fund operations in South Korea, Asia’s fourth biggest fund market.