Fund Objective

The investment objective is to provide capital growth.

View on Past Performance

A combination of deteriorating indicators and a lack of decisve action by the Japanese government resulted in a downbeat quarter for Japanese markets. Industrial production declined for the third consecutive month and unemployment increased. Additional ec The market continued to be plagued by uncertainty over policy changes relating to the banking sector as the government procrastinated over structural reform.

Future Expectations

The Japanese market is likely to remain nervous until uncertainty over the global economy stabilises. The focus will continue to be on US economic trends and policies. The two-tier economy is likely to continue, with exporters continuing to benefit from g

Fund Details