Investors' 'unique window of opportunity' in Japanese equities

Governance reforms set to yield positive long-term returns

The benefits of Japan's improving environment for minority shareholders is expected to yield positive returns for investors - but it's still for a long way down the line, fund managers caution.

Many asset allocators and global stockpickers are positive on Japanese equities, with valuations still attractive relative to many other parts of the developed world which look either expensive or structurally troubled. Couple this with continuing reforms stemming from prime minister Shinzo Abe's 2015 Stewardship Code and it sets a positive backdrop for new investors. Joël Le Saux, portfolio manager of SYZ Asset Management's OYSTER Japan Opportunities fund said the country is "on the cusp of a step-change in shareholder friendliness". He notes, for example, that the amount of share...