Hedge fund CAI says cuts entire exposure to Japan

March 18 (Reuters) - Asia-focused hedge fund Central Asset Investments (CAI) has cut its entire exposure to Japan, including stakes in blue-chip companies such as Canon Inc and Toyota Motor Corp , its chief executive said on Friday.

Eddie Tam, whose CAI Global Fund returned 48 percent last year to become one of the top-10 multi-strategy hedge funds in the world, said he about 15 percent of his portfolio was parked in Japan before the country was hit by the massive earthquake.

He did not disclose his exact assets but said the fund was approaching $250 million.

"When the crisis hit, we reacted quite quickly. So within two to three days we liquidated the entire Japanese exposure," the Hong Kong-based fund executive told Reuters in an interview.

"It's not really prudent to guess the outcome of the nuclear incident at this point in time," he said, adding that he had no immediate plans to move back. (Reporting by Nishant Kumar; Editing by Chris Lewis)