Strong positions in domestic and recovering stocks stood the Arcus Zensen Fund in good stead for February. The Japan long/short equity fund was up 2.86% for the month and by month-end had gained 7.71% this year so far.
The month was fairly quiet for the market, but domestic stocks trended upwards thanks to continuing recovery in industrial production and employment.
Strong domestic positions for Zensen included Septeni, a small direct marketing and internet advertising company, and Leopalace, a real estate company, explains Arcus Investment's Robert Macrae. Attention is also starting to focus on earnings, which suits the fund's