Jupiter’s multi-manager team has bolstered its exposure to Japanese equities across three of its four merlin portfolios.
The team, which is headed by John Chatfeild Roberts, has raised its weighting to the traditionally unfancied sector across its £916m balanced, £1.2bn growth and £593m worldwide portfolios.
The balanced fund, which derives its exposures solely through Jupiter’s own Japan income fund, has seen its exposure raised from 1.1 per cent in September to 4.9 per cent in October.
The growth fund has also seen its exposure to Japanese equities raised from 2.3 per cent to 6.1 per cent, while the worldwide fund has seen its exposure raised from 3.7 per cent to 9.2 per cent. The growth fund invests in both Jupiter Japan income and Morant Wright Japan, the worldwide fund also invests in Morant Wright Japan as well Jupiter Japan select.
Hargreaves Lansdown senior analyst Meera Patel says: “Traditionally John Chatfeild Roberts has been a cautious by nature but when he sees a compelling opportunity he does not hold back. The fact is the Japan is cheap and companies are performing so at some point it looks there will be a re-rating.”