Framlington increases Japan holdings

By Adam Lewis Richard Peirson, manager of the Framlington Financial unit trust, is increasing his weighting in Japan to the benchmark 9% as he believes long-term there is a massive amount of cash on deposit which savers will transfer to the markets. Peirson said that in the 1990s Japanese savers had no confidence in their brokers and as such hoarded their savings in deposits rather than putting them in long-term equity products. He said: "We are now seeing signs of Anglo Saxon style financial restructuring, with bad loans being written off and cost cutting taking place. Inflation is ...