INVESCO looks to US

By Robert Stock INVESCO Japanese Smaller Companies is holding an 8% cash position to cover possible ...

By Robert Stock INVESCO Japanese Smaller Companies is holding an 8% cash position to cover possible redemptions and to exploit buying opportunities if the US economy has a hard landing. The technology exposure in the fund, which is ranked 13 out of 13 for its three month performance to 31 May in the Japanese smaller companies sector, has also been reduced from 37% in December 1999 to just 17% at the start of June. Fund manager Masato Kawada intends to maintain the cash position while he remains unsure whether the US will make a hard or soft landing, a factor that will have a defining im...