Stephen Harker, manager of Man GLG's £1.5bn Japan CoreAlpha fund, explains why Japanese banks and depressed commodities offer attractive investment opportunities.
Man GLG's Harker (pictured) has increased his exposure to companies where valuations appear attractive to value investors such as himself. This includes banking and iron & steel names, which have underperformed for long periods of time. The manager said: "We are contrarians, focused on buying low price-to-book stocks, and we primarily concentrate on the stocks everyone hates. Right now in Japan that means the banks, and some cyclicals - especially iron and steel companies." Man GLG Japan Core Alpha moves overweight autos for first time Commenting on the former sector, Harker said t...
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