Performance

Myojo gains on both long and short side

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Gains on both the long and the short books enabled the Myojo Japan Long Short Fund to put on 4.89% in the US dollar class and 5.27% in the yen class, taking year-to-date numbers to 5.45% and 5.89%, respectively.

Portfolio manager Makoto Kikuchi cites Honda, Makita Corp and NGK Insulators as major contributors to the long book, as the market focused on financial risks in February. All three have a clean balance sheet, no cashflow problems and dominate a niche in their respective industries.

On the short side, Toshiba Corp and T and D Holdings added to gains