Japan may be heading for recession, says Gam's Kaye

Japan continues to be a difficult environment for investors as it experiences its fifth consecutive q...

Japan continues to be a difficult environment for investors as it experiences its fifth consecutive quarter of negative growth since the economy began its recovery in 2002. Lesley Kaye, manager of several Asia Pacific and Japan equity funds for Gam, said the country may not manage to avoid technical recession this time around. “The last quarter was a perfect storm of peak year-on-year oil prices, adverse currency moves and weakening corporate earnings estimates,” she said. Sony has been a particular contributor to underperformance on her funds, with Kaye estimating the tech company’s s...