Coombs buys Japan ahead of 'strong rebound'

Rathbones' David Coombs is adding Japanese stocks to his portfolio in the view its economy will rebound quickly from the aftermath of last week's devastating earthquake and tsunami.

Coombs, head of multi manager investments at Rathbone Unit Trust Management, says the earthquake has not changed his perception of Japanese stocks: "What has happened has not altered my view - if anything it has made valuations more attractive." "The Japanese are incredibly resilient to these types of events. They are used to it and will recover more quickly than the US did after Hurricane Katrina, for example. The infrastructure rebuild will not only replace what was there, but enhance it. Overall that will have a positive effect on GDP," says Coombs. He holds Stephen Harker's GLG Ja...