August was another difficult month for Japanese equities as the global malaise continued. TOPIX was down by 5.3%, taking the index to an 18-month low. The combination of a weak market and strengthening yen proved a tough environment, and most funds in the sector were down on the month.
Lindsell Train Japan bucked the negative trend, however, a 3.67% return in August taking three-month returns to 6.76%. Yaraka was up 0.25%, leaving three-month figures at 1.71%, while Whitney Japan gained an estimated 0.88%, putting three-month returns at 1.32%. Rockhampton’s estimated 0.19% month left three-month numbers at 0.79%.