Japan funds soar after dismal 2009

Japanese funds dominated returns during the first quarter of the year as the region's equity market begins to bounce back from a disappointing 2009.

The IMA Japan sector was the worst-performing equity sector last year, falling 3.6%. This was in stark contrast to other developed market funds last year, with IMA UK All Companies rising 30% and almost 20% for North America and Europe ex UK. A new year has led to a reversal of fortunes for Japanese funds, with 24 out of the top 30 performing vehicles in the IMA universe coming from the sector, according to Trustnet. While currency movements have been a factor, managers also believe Japanese equities are now starting to re-rate after falling to historically low valuations. GLG Japa...