TOKYO : Japan's Simplex Asset Management said it will launch exchange-traded funds focused on undervalued stocks, including the first aimed at shares below book value, reflecting demand for exposure to the wave of corporate reform rallying Japanese markets.Japan's Nikkei is up 24 per cent this year, again
TOKYO : Japan's Simplex Asset Management said it will launch exchange-traded funds focused on undervalued stocks, including the first aimed at shares below book value, reflecting demand for exposure to the wave of corporate reform rallying Japanese markets.
Years of habitually conservative management and a build-up of cross shareholdings has resulted in many firms trading below the value of their assets less liabilities. Some 189 companies in the Topix 500 trade below book value, compared to 17 in the S&P 500, according to Simplex. The funds launch next week and are focused on the areas of the market where many investors see the most potential. One of the funds, Simplex PBR Improvement over 1x ETF, will contain about 500 stocks that average 0.7 times their book value.
"The time has come to launch these funds," said Hiromasa Mizushima, chief executive officer for Simplex Asset Management.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan says harassment calls from China regarding Fukushima water release extremely regrettableTOKYO — Japan said on Monday (Aug 28) it was extremely regrettable that there were many instances of harassing phone calls from China regarding the release of treated radioactive water from the Fukushima nuclear power plant into the Pacific. Japan started the water discharge on Thursday in a key step toward decommissioning the Fukushima plant, which suffered triple meltdowns after...
Read more »
South Korean president eats seafood lunch amid concern over Japan water releaseSouth Korea's government said it has found no scientific or technical problems with the release of water from the Fukushima nuclear plant.
Read more »
South Korean president eats seafood lunch amid concern over Japan water releaseSEOUL — South Korea President Yoon Suk Yeol had a seafood lunch on Monday (Aug 28), his office said, to allay public concern over the safety of local fish products after Japan began discharging treated radioactive water from its Fukushima nucl
Read more »
South Korea President Yoon has seafood lunch amid concerns over Japan’s Fukushima water releaseThe presidential office cafeteria also had raw fish on the lunch menu for its staff. Read more at straitstimes.com.
Read more »
Toyota to halt operations at all Japan assembly plants due to system failureTOKYO: Toyota Motor will suspend operations at all of its assembly plants in Japan from Tuesday (Aug 29) afternoon due to a malfunction with its production system, it said, likely bringing domestic output to a standstill for the world's top automaker. Toyota was looking into the cause of the problem, a spo
Read more »
Brick thrown at Japan embassy in China in Fukushima water spatJapan has urged its citizens in China to keep a low profile and increased security around schools and diplomatic missions. Read more at straitstimes.com.
Read more »