Young sticks to Japan underweight

Aberdeen Asset Management's Hugh Young continues to be heavily underweight Japan, despite the country enjoying its fastest period of growth for over two years.

Japanese GDP grew 1.2% quarter on quarter between July and September, while the OECD also recently made a significant upward revision in its forecast for Japan's growth for 2010 and 2011. However, Young maintains around a 20% weighting to the country in both the £183m Aberdeen Asia Pacific and Japan fund and the £440m St James's Place Far East fund. This compares with a FTSE Asia Pacific benchmark weighting of 42.3%. "We remain convinced it is right to continue to heavily underweight Japan. We cannot envisage a scenario in which Japan's corporate sector does better than the rest of As...