GLOBAL - Govett Investments is urging investors to reconsider investing in Japan.
The company is confident that the markets there are picking up and is already reporting short-term investment gains. It points to evidence that the Japanese economy is bottoming out and cites cyclical growth, rising merger and acquisition activity and restructuring, especially among larger Japanese companies, as key indicators of a recovery.
Kerry Goh, manager of the Govett Japanese Opportunities Fund, said: “We have gone from a bearish to bullish stance in a fairly short timeframe.
“Whereas the slow pace of banking reforms and deflationary pressures in the economy inclined us to be bearish in the past, recent policy initiatives taken by the Japanese authorities have impressed us.
“We’ve reduced the high cash level of the fund and are now investing in cyclical growth and export stocks and those companies which are showing evidence of strong management and restructuring. Recent investments include policy and economic related stocks such as Nomura, Sumitomo Bank, THK and Yushin Precision.”
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