Sumi Trust launches euro hedged shares
Rising demand from European investors has led Sumitomo Mitsui Trust Group (Sumi Trust) to launch a euro share class for its Japanese Equity Fundamental Value Satellite fund.
The manager, which has some $497bn in overall AUM, said its flagship fund would continue to offer yen denominated shares, while additional currency share classes are likely to be launched for other funds in its range later this year, depending on levels of investor demand.
Hisaya Kambayashi, managing director of Sumi Trust, said: “As investor sentiment grows in response to prime minister Abe’s economic policies, we are seeing an increasing demand for Japanese equity products in Europe. The Cabinet’s fiscal and monetary policy reforms are already helping to pull the country out of an era of deflation, while corporate governance reforms and a tightening of the labour market has created good long-term prospects for investing in Japanese equities.”
“The introduction of this new share class will allow us to grow our presence in Europe, where we have been actively promoting our Japanese equity products since 2007. Our on the ground research, conducted by a 25-strong analyst team, means that we are very well positioned to identify stocks with high growth potential for investors outside of Japan.”