S&P Japan drops new names for old

Save & Prosper Japan Growth fund has taken profits from its position in the technology sector and re...

Save & Prosper Japan Growth fund has taken profits from its position in the technology sector and reinvested into old economy stocks following recent volatility. Richard Whittall, fund manager of S&P Japan Growth and Jardine Fleming Japan Technology funds, has sold a significant amount of the fund's position in Softbank, Hikari Tsushin, and NTT Mobile Communications. He has since broadened the scope of the portfolio into older names including NEC, Sharp and Cannon. Fleming Asset Management recently announced a 2% discount on the initial 5.5% charge on the £585.8m fund. The offer, which a...