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Wednesday, 17th March 2010
In Business In Japan,

Fund managers heading to Japan, survey shows

Fund managers are moving their focus from Europe to Japan and the US, according to the results of a new survey.

A poll of 207 fund managers - with a combined asset pot of hundreds of billions of dollars - carried out by Bank of America Merrill Lynch showed that investors remain concerned over the state of markets in Europe and are moving their interest elsewhere.

Those who responded to the poll stated that Japanese overweight positions have risen from net 10 per cent underweight to six per cent overweight, showing confidence in the Japanese market.

Commenting on the figures Bank of America Merrill Lynch head of European equities strategy Gary Baker said: "European country risk remains a key constraint to optimism over economic recovery."

Meanwhile, shares on the Japanese Nikkei stock exchange are currently at an eight-week high, following steps by the Bank of Japan to ease financial tension in the country by doubling the amount available in short-term loans.

Written by Mark Smith.