Graham Duce

“In light of the tragic events in Japan, risk assets have been in retreat, and Japanese equities have endured the severest pullback. Whilst there will inevitably be supply chain issues to the detriment of the economy and much uncertainty to follow, the price to book valuation of the equity market looks appealing for the long-term investor, and we have 3 per cent from cash into the large cap value orientated GLG Japan Core Alpha Fund. We have opted for the share class that hedges yen into euros. We have also switched the GLG Japan Core Alpha position from the unhedged class into the hedged class.”