Invesco and JOHCM overweight Japan as market bounces back

Invesco Perpetual and JO Hambro Capital Management (JOHCM) have gone overweight Japan across a range of Asian and global mandates amid a rebound in the country's stock market.

The Nikkei lost 14% of its value in the sell-off following the earthquake and tsunami that hit Japan, falling to around 8,600 points, as investors dumped shares across the board. The market has since recovered some losses, and closed last week 10% off highs seen at the start of the year. However, managers expect shares to recover further in the second half of 2011. Companies still undervalued Paul Chesson and Tony Roberts at Invesco, running the £343m Japan fund, are among the managers currently backing the market to rise, according to a survey by Standrad & Poor's. (S&P's). S&P’...