Multi-assetAug 14 2015

Sarasin’s Lucy Walker favours Japanese equities

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Sarasin’s Lucy Walker favours Japanese equities

Lucy Walker, fund-of-fund’s manager at Sarasin, has backed her overweight position in equities in spite of the “ever present geopolitical risks”.

The range of four Sarasin multi-manager funds, which reached a three-year anniversary at the beginning of June, currently has a modest overweight to equities and higher than usual cash levels.

In particular, Ms Walker said she favoured Japanese equities.

In a note she explained: “To date [Shinzo Abe] has already been the longest-serving prime minister for a decade, proving that his widely publicised ‘Abenomics’ has ultimately been successful.”

To gain exposure to Japan, Ms Walker has invested in the Third Point Offshore and Invesco Perpetual Japan funds.

She has hedged the Invesco Perpetual fund back to sterling as it invests in a number of Japanese exporters.

In the largest of the four funds, the £64m Global Equity vehicle, Ms Walker has 11.3 per cent in Japan.