Absolute Capital has just won a second Japanese pension mandate of 1 billion yen, or $11 million, for its structured credit product.

It is the group’s second mandate from the same large Japanese pension fund. “They had done a little bit of structured credit themselves but decided it was too hard,” according to Paul Harding-Davis, Absolute Capital’s head of sales. ABN Amro does the initial introduction for the manager in the Japanese market and Deon Joubert, Absolute’s managing director, said the group appreciated the vote of confidence from one of the “;most cautious investing audiences in the world”;. Harding-Davis said the group’s retail business was going extremely well and the firm would be looking to hire a few more people, on both the investment and client service side, over the next year.