This article was written in early November for the December edition of our print publication. Therefore, figures concerning market performance in 2019 may be out of date.
Only one fund broke the 10% return barrier in the volatile third quarter to end-September. Following its top-spot showing in the first half of the year, LF Ruffer Gold was again the top performing fund with a 13.9% uplift. The fund invests in a 62-strong portfolio of gold and other precious metal-mining companies around the world.
The Japanese stockmarket has underperformed for four years, and was slammed in last autumn’s tech sell-off, which knocked 18% off stocks in sterling terms. While the Topix index is still languishing 40% below its 1991 peak, other major developed markets such as the US have recovered to their all-time highs.
Well, that wasn’t much fun for investors: 2018 promised so much but ended up delivering very little, if anything at all. Of all major asset classes referenced by UK investors, only property ended up meaningfully in the black – up around 7%. Cash and gilts returned a little over 0.5%. With a 3.1% loss, global developed markets fared better than commodities, emerging market equities and UK shares, which propped up the asset class performance table with near 10% losses.
Japan has produced negative returns since the start of 2018, outperforming only the UK among the major regions.
Following heightened trade US-China trade tensions, Japan’s markets took a beating. Some investors, however, were already souring.
Policies to deal with Japan's shrinking population offer investors new specific investment opportunities.
The notoriously sluggish Japanese market has suffered numerous false dawns in recent years. But the latest upswing looks well-founded.
For this month's Buy, Hold, Sell feature, Tom Bailey speaks to Peter Walls, manager of the Unicorn Mastertrust.
Japan had a successful 2017. The same is likley to be repeated this year. Here's what you need to know.