Japan's 20-year lull finally comes to an end

Reforms in corporate and banking pay off as country finally makes its way back onto investors' radar

The Japanese equity market has started a substantial recovery and is back on investors' radars after almost two decades as corporate and banking reforms are finally paying off. Since Anja Balfour took over the Axa Framlington Japan offering in September 2004, the £138m fund has produced strong performance and remained ahead of its peers. It boasts the highest cumulative performance in the IMA's Japan sector over three years to the end of September, with bid to bid growth of 83.8% compared to the peer group average of 33.74%, according to Standard & Poor's. In addition to producing the hi...