Gartmore leaves Japan for US

In the first change made to his fund of funds portfolios since the summer, Hambi revealed he had reduced his overweight Japan position by 2pc. Fears over increasing risk in the country prompted the move, which affects all funds investing overseas including the £10.24m Active portfolio, which had an 11.8pc share invested in Japan and the £13.06m Global High Alpha Income in which 14.4pc was invested in the region. The £373.25m Balanced fund also had 7.5pc in Japan. Hambi said the portfolios had been overweight in Japan and would remain so, but the balance needed to be altered in line...