Managers remain defensive in Asia ex-Japan sector

The last two years have seen, on average, gains for funds investing into the region, though in the last year returns were significantly higher than even a year earlier (when many equity-based funds were firmly in negative territory). The Standard & Poor's Pacific Sector overview, released midway through the year, indicated that: "Investment views were little changed from last year but the protracted uncertainty in markets had caused managers to become slightly more defensive. There was a clear emphasis on financial and management strength, whether through balance sheets, cashflow or corpora...