Mundy backs Japan equity as valuations slump

Decades of disappointing growth from Japan have punished scores of fund managers who bought into the prospect of recovery but Citywire A-rated Alastair Mundy, portfolio manager of the Investec Cautious Managed fund, believes that now is the time to invest with Japanese equity valuations at an all time low.

Mundy has 9.3% of the portfolio (as of 30 November) invested in Japanese equities through companies, which have strong balance sheets, like Casio and Yamaha where political and economic negativity have already been priced in. Mundy also manages the £495 million Investec UK Special Situations fund.