November 2021

Hit and miss: How many of Japan’s economic arrows will still fly straight under Abe’s successor? UK investors have typically been underweight Japan in portfolios in recent years and it’s not hard to see why. Despite numerous proclamations of a ‘new dawn’, the country has spent the best part of three decades mired by minimal […]

Hit and miss: How many of Japan’s economic arrows will still fly straight under Abe’s successor?

UK investors have typically been underweight Japan in portfolios in recent years and it’s not hard to see why. Despite numerous proclamations of a ‘new dawn’, the country has spent the best part of three decades mired by minimal growth and overall deflation.

The introduction of ‘Abenomics’ in 2012 by then prime minister Shinzo Abe has seen some successes, including GDP, corporate earnings and employment, but it has failed in spreading wealth more evenly throughout the country.

New prime minister Fumio Kishida wants to address this and says he is open to veering away from Abenomics and introducing a ‘new capitalism’ that closes the gap between rich and poor.

The change in leadership has offered investors hope that a policy overhaul will occur, but fund managers and buyers aren’t convinced Kishida can effect real change. Can he walk the walk? Find out what the industry thinks inside November’s issue.

Elsewhere this month, Seilern Investment Management CEO Tassilo Seilern-Aspang isn’t pulling any punches when it comes to his take on ESG and the future of asset management in View from the top.

We also speak with LGIM chief executive Michelle Scrimgeour on the fund giant’s engagement successes, her role at COP26 and why she is so pleased to see the industry collaborating on climate change.

Asset allocator finds LGIM’s Andrzej Pioch and Chris Teschmacher in bullish mood and looking to add risk into portfolios, while Allianz Strategic Bond manager Mike Riddell reflects on how his fund outperformed during the pandemic due to its flexible approach.

Finally, in Fund selector this month, Square Mile demystifies the plethora of funds in the Investment Association’s multi-asset sectors – and highlights the ones worth taking note of.

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