Not on the ground in Japan

Observations from the study, rather than on the ground in Japan, from the JOHCM Japan team.  

  • Ruth Nash
26 Mar 2020
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View PDF   Download PDF  
  • To date, Japan has suffered just 42 deaths from the virus, and the government is clearly trying to balance health risks with risks to the overall economy.
  • In conference calls with companies over the past couple of weeks, all have said that production in Japan is operating as normal and that production in China is slowly recovering.
  • The adjustments we have made to the portfolio over the past few weeks make it more domestically-focused and even less dependent on global growth.


Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. The Fund’s investments include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile. The information contained herein including any expression of opinion is for information purposes only and is given on the understanding that it is not a recommendation.

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