Japan funds banish the blues with an encouraging rebound in June

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In June, the Japanese market finally broke out of the doldrums, rebounding by 6.9% in local currency terms. The first half of the year has been tough for hedge funds, though, and most have struggled to beat the TOPIX index, which is now up 5.7% year-to-date.

UMJ Kotoshiro is up 12.02% year to date after a 0.94% gain in June, while a solid 7.55% June return took SFP Value Realization Fund’s first-half numbers to 20.01%, and Kubera-Yamato Fund was up 2.26% on the month, leaving six-month returns at 13.43%.

Former GAM man Paul Kirkby’s PK Japan is up