Top Japanese managers united in avoidance of cyclicals

Japan sector sees 47% spread separating best from worst performers over three years, with top vehicles all sharing an avoidance of cyclicals

A closer look at the Japan sector's best-performing funds reveals opposing preferences on cap size alongside a shared avoidance of cyclicals. The sector currently has a 47% spread separating the best-performing fund from the worst over three years. According to Morningstar, SG Japan CoreAlpha made a bid to bid return of 20.05% over three years to 15 August. Legg Mason Japan is -67.45% against a sector mean of -9.13%. The second-best performance came from Invesco Perpetual. Run by Paul Chesson, its £157m Japan offering delivered three-year returns of 14.13%, leaving Neptune Japan Opp...