Market cycle turning towards Japan

Denis Clough's Japan performance has had a tough time over the past 12 months. The frAAA-rated Schroder Tokyo unit trust he runs was downgraded to frAA and over one year it was ranked 61 out of 76 with returns of 25.7%, on a bid to offer basis, compared to sector average returns of 36.3%. Even so, in the short term things seem to be improving. Over three months, bid to bid, the fund is ranked five out of 77. Clough, a director of Schroder Investment Management, is also manager of the Schroder Japan Growth investment trust. He talks with Leo Bland about his investment management style go...