Performance

Toyota recall turns February into a trickier month for Japan managers

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While the Tokyo market fell off slightly in the first half of February it then staged a modest recovery, ending the month down 0.74%. It was a tricky month, with fears over the Toyota recall in particular hanging over the market.

Hachiman Japan was up 1.62% on the month, with gains coming in the long book from Leopalace and Haseko, while key stocks in the short portfolio were an industrial gas manufacturer and a pachinko company. GAM Japan Equity Hedge was down 1.02% on the month, which left three-month figures at 10.82%, while Boyer Allan Japan dropped 1.39% to