Japan "pausing for breath"

Although the Nikkei has risen by 3.4pc from December 30 2005 to October 20 this year, every fund in the sector has lost percentage growth over the same period, leading managers to urge investors not to pull out. Some funds fell by staggering amounts, including the Legg Mason Japan Equity fund which lost 42.21pc and the Fidelity Japan Special Situations fund which nose-dived 27.66pc. Even the top performing fund in the sector over one year, the £111m SG Japan Core Alpha Retail fund, dropped by 3.1pc. Despite the figures, Mike Gleason, global head of quantitative strategies at Gartm...