Mike Foster: Pensions miss out on Japanese revival

Traditional managers have been slow to pick up the signs

Monday 19 April 2004 at 16:00

The recent transformation of Japanese equities from sinners to saints is more than noteworthy. In the year to March, the FTSE Japan index produced 46%, against 33% from Europe as stocks and the yen marched up.

More money is flooding in. A Merrill Lynch survey shows that fund managers are more bullish on revenue prospects for companies in Japan than any other large economy.