Capel Cure Japan strategy

By Robert Stock The Capel Cure Sharp Japanese Growth Fund is running a portfolio with a third more stocks than usual due to the uncertain state of the underlying market. Fund manager Les Jones has holdings in 64 stocks compared to his usual spread of around 48, reflecting his belief that portfolios with narrow exposure in Japan are taking an unjustifiable risk. Jones said: "It is a tricky market right now and the flows of funds and information is such that, if you have too many eggs in one basket, you can get taken out by one event." Jones has achieved bid to bid returns of 7.4% over t...