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T Bailey increases exposure to Japan

Multi-manager T. Bailey has increased its exposure to Japan within its growth fund and passive-only equivalent, the T. Bailey growth fund LITE.

Within a few weeks it has moved from an underweight to overweight position of 9.6 per cent against a strategic benchmark of 7.5 per cent as at March 10.

It has increased its holding in the GLG Japan CoreAlpha Fund to 5.7 per cent within its growth fund and bought small cap exposure through the Fidelity Japan small companies fund and the iShares MSCI Japan small cap index fund.

Its growth fund LITE has invested through a combination of the iShares MSCI Japan Small Cap Index Fund and the BlackRock Japan equity tracker.

The firm is also currently hedging yen risk in the portfolio in the event of a devaluation of the currency against sterling. 

Head of marketing and communications Philippa Gee says: “There are some really strong companies out there that are looking attractively priced. Japan is still loosening monetary policy when all the Western economies are tightening it; the government there is making the right noises about devaluing the Yen. The combination of the two could kick-start an equity revival. Now is a good time to be making a move.”


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