Emperor Akihito's abdication on 30 April may be seen as a momentous occasion in Japan's history since the last abdication was 202 years ago, but we do not believe it will have a significant impact on the country's economy.
The emperor's role is mainly symbolic, with much of his time spent on ceremonial events. Moreover, during his reign, Japan's economy has weathered many storms, yet there are still highly profitable companies that have succeeded in becoming world leaders in their respective fields. Indeed, from many a fund manager's perspective, a company's performance is not always driven by an economy's growth trajectory and so prefer to focus on individual companies and their qualities. For many actively managed funds' managers, Japan is seen as an exciting market to be in. For a start, it has t...
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