Japanese equity funds shine

portfolios have their best month in five years, buoyed by the rise in the yen versus sterling

Japanese equity funds demonstrated their best monthly performance in five years in March 2004, boosted by the rise in the yen versus sterling. According to Lipper's latest fund report, the top two performing IMA sectors for the month were the Japanese Smaller Companies sector, which posted a rise 22.27% bid to bid, and the mainstream Japan sector, which registered a return of 15.59%. Within the two sectors, the Legg Mason Japan Equity fund, managed by Hideo Shiozumi, was the top performer after it returned 28.79%, followed by the Invesco Perpetual Japanese Smaller Companies fund, run by M...