Japan funds end first half with solid gains despite market turbulence


June was a volatile month for Japanese equities as the market reacted to fluctuations in the Japanese yen, with down over 8% at one stage, though ending the month flat. A resumption of yen weakness later in the month, however, led to a strong rally.

Given these conditions, it was not surprising to see many Japan long/shorts posting negative returns for the month: however, at the end of the first half of the year, most are still sitting on solid gains following what has been a strong bull run for Japanese equities.

Among the managers that had gains