January saw the Japanese market starting out strongly only for momentum to peter out, the TOPIX index ending the month up 1.26%.
Most funds were positive on the month. SFP Value Realization Fund was up 2.02% to take three-month gross numbers to a whopping 41.99%, while Strategic Evarich saw a 2.87% January, taking three-month figures to 18.57%.
It was a particularly strong month for Myojo Riodas, which gained 10.46% for January to put three-month numbers at 24.24%. Gains came from the long book, and during the month the managers raised weightings in the materials sector, reducing positions in