The world according to L&GI's multi-managers Thein and Gardner

Japan: "Abenomics is more aggressive and a more concerted effort to pull the country out of deflation. Valuations are looking reasonable, it is broadly attractive. There are still risks if politicians aren't aggressive enough. Our Growth fund has 16% exposure to Japan, the Balanced fund 13% and Income about 9%. All are currency hedged into sterling or dollar. We are invested in the JA Hambro Japan fund and the Polar Capital Japan Alpha. "We expect more aggressive Bank of Japan easing plans. There is lots of potential." Fixed income: "We're underweight fixed income, especially deve...