Performance

Wisdom of Japan reaps rise of over 2%

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Epic Partners Investment Co's Wisdom of Japan market-neutral strategy fund gained ground in January, up 2.02% in the Japanese yen class.

Stocks with low valuations that were expected to make an earnings recovery - for example on a price-to-book and price-earnings-ratio basis - performed relatively firmly, says Epic's Tadashi Mukai.

Long positions in Risona Holdings and Mazda, and short positions in Hitachi Construction Machinery and Toda Kogyo contributed to positive returns.

Mukai expects the market to remain at the same level in February. Companies with a March financial year-end are expected to report good earnings in their third-quarter results, but