GLOBAL - Govett Investments is warning fund managers not to write-off Japanese investments just yet.
It says there is positive investment news coming out of the “doom and gloom” of the Japanese economy.
AIB Govett Asia fund manager Kerry Goh said: “There is some good news from Japan. On the macro front, there has been positive news about Japan’s path to recovery. Japanese exports to Asia also continue to be strong.”
Goh added that the hotly debated banking sector is a victim of poor expectations and has been under-owned and largely ignored. As a result, she added, Govett’s Japanese Opportunities Fund has been showing “promising” returns.
But Goh admitted that any recovery will be a bumpy one.
*The Japanese government has been forced to admit that its assurances that the economy had “bottomed out” were unfounded, as shares dropped to a 19-year low.
Officials said corporate investors had dumped their holdings to dress up books ahead of the end of the fiscal first half on September 30.
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.