A Reuters survey of eight Japan-based fund managers (between August 18 and 22):
- They continued to increase the proportion of shares in their model portfolio allocations in August (Overall allocations to equities rose to 45.5 percent in August from 44.8 percent in July)
- Increased their allocations of U.S. bonds
- Cut property but left cash and alternative assets unchanged
- “While geopolitical risk may cause some turbulence, equities are expected climb steadily, supported by solid corporate earnings, and the sense they provide a bargain in terms of valuation and U.S. economic recovery,” said Yuichi Kodama, chief economist at Meiji Yasuda Life.
- Raised weightings within eqity portfoli of U.S. shares to 29.4 percent from 27.8 percent in July and also upped Japanese shares to 40.0 percent from 38.5 percent. Eurozone shares to 14.3 percent from 14.4 percent
- Within bonds – raised U.S. weightings to 31.0 percent – highest since November 2011 – from 27.6 percent while cutting the euro allocation to 21.0 percent from 22.8 percent
- Weightings on Japanese bonds were also cut to a four-year low of 32.0 percent from 36.2 percent
No link as yet, I’ll keep an eye out though
