Skandia and Henderson New Star are among a number of multi-asset groups to start bumping up their weightings to Japan, as they believe the beleaguered country could see a reversal in its fortunes this year.
Last year, Japan was the second worst selling IMA sector, which is unsurprising considering it recorded the lowest performance of any equity market and fell 3.6% in sterling terms. However, managers are starting to turn more bullish on the country with PSigma Investment Management CIO Tom Becket saying he has taken his "biggest bet on Japan in the company's history". Managers are buoyed by corporate restructuring, improving valuations, constructive government policies and a weakening of the yen. They also recognise Japan is in pole position to benefit from rapid Asian growth. Skan...
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