Each week, a professional investor tells MoneyWeek where she’d put her money now. This week: Ruth Nash, manager, JOHCM Japan Dividend Growth Fund.
Japanese companies have historically been seen as fairly poor dividend-payers. So a dividend fund focused on Japan Inc. may seem like an odd idea. But this view is out of date – since 2003, a dividend culture has been taking root in Japan.
The breakdown of the old cross-shareholding system (where companies would frequently hold large stakes in one another) has made companies more keen to cultivate long-term shareholders through rising pay-outs.
The earnings recovery underway in [...]
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