T Rowe Price Eyes Japan Expansion, Is Long-Term Bull on Nikkei

22.10.2018 / 01:25

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T Rowe Price Group Inc. plans to beef up its operations in the Japanese market.

T Rowe Price has a positive outlook for Japanese equities in the longer term, Archibald Ciganer, co-head of Japanese equity and portfolio manager, said in the interview. He says the country’s stock market is now ripe for stock pickers such as his firm. Ciganer oversaw about $2.2 billion in Japanese stocks at the end of June, while T Rowe Price managed about $19.1 billion in the country’s equities.

The Baltimore-based money manager sees opportunities in Japan in areas ranging from technology and automation to the tightening labor market and the aging of society, according to Ciganer. It’s also positive about the steps Japan Inc. has taken to improve corporate governance. Ciganer cited the increase of outside directors on boards and the increased receptiveness of company CEOs to ideas presented in investor meetings.

The T Rowe Price Japan Fund, which is managed by Ciganer, has beaten 87 percent of peers so far this year, according to data compiled by Bloomberg. It’s delivered a 9.1 percent annualized return over the past five years, the data show.

The fund counts SoftBank Group Corp. and Nippon Telegraph & Telephone Corp. among its largest holdings, according to data compiled by Bloomberg. Ciganer says SoftBank is a model of good corporate governance.

“The Japanese market was behind compared to the U.S. and European markets, but it’s quickly catching up, and returns that investors can get are increasing,” Ciganer said. “I’m bullish in the medium to long term.”

Source: Bloomberg Finance L.P.

Original Post: T Rowe Price Eyes Japan Expansion, Is Long-Term Bull on Nikkei

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T Rowe Price Eyes Japan Expansion, Is Long-Term Bull on Nikkei

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