With asset management companies still beset by an adverse operating environment and Japanese equities losing relative appeal, the Japanese asset management industry seems mired in stagnation. Japanese asset management...
Assets have recently started to flow out of income-oriented investment trusts, a key driving force behind the shift from saving to investment in recent years. These outflows reflect structural...
Investment returns have deteriorated precipitously as a result of recent asset price declines. Most investment trust investors now have unrealized losses on their holdings. Investment trusts are unlikely to...
Repercussions from the subprime mortgage crisis epicentered in US continue to roil global securitization and, in turn, financial markets. Once widely hailed as a seminal financial innovation, securitization currently...
Household financial assets declined sharply in FY07. At first blush, households appear to have become more conservative in their asset allocation, increasing their holdings of time deposits. But households...
Japanese investment trusts are, on average, small in terms of assets, giving them substantial scope for improvement in efficiency. With new funds likely to continue to proliferate, investment trust...
Individual investors have hitherto favored investment trusts with high distribution yields, particularly foreign hybrid and foreign equity funds. Recently, however, they no longer select investment trusts on the basis...
With 1.533 trillion yen in financial assets, Japanese households are gradually increasing their allocation to risk assets. How will the new J-SOX law, in full effect since September,...
Japanese real estate investment's risk/return profile is starting to change. Recent high returns from capital gains are likely unsustainable, but we see favorable prospects for solid income returns and...
Time deposits held by households rose by 6.6 trillion yen in FY06, according to flow-of-funds data released by the Bank of Japan on June 15. But we interpret...