Japan

Psigma has dodged today's Japanese equity sell-off after the firm's CIO Tom Becket told its investment managers to reduce exposure earlier this week amid fears a pullback was imminent.

Japan's Nikkei 225 index has closed down 7.3% as comments from Federal Reserve chairman Ben Bernanke over a potential scaling back of quantitative easing spooked investors worldwide.

The incoming governor of the Bank of England (BoE) has warned Europe must change tack and introduce significant reforms to avoid a Japanese-style lost decade.

The Japanese market has gone from strength to strength this year, with shares soaring as the recent expansionary policies of new Prime Minister Shinzo Abe power the economy. But which funds offer investors the best way to play the ongoing rally?

JAPAN

The Japanese economy grew faster than any other G7 country in the first quarter of the year, reflecting the benefit of Prime Minister Shinzo Abe's expansionary policies.

Japan's benchmark index has broken through the 15,000 barrier for the first time since 2008 as investors continue to cheer policymakers' efforts to weaken the yen.

LUXURY GOODS

Invesco Perpetual is adding two new managers to its Pacific fund to assist lead manager Stuart Parks.

London blue-chip index has crossed the threshold level of 6,600 for the first time since 2007 after a seven-day climb.