Japan is overlooked and mispriced – here's how to buy in

A new investment trust, the AVI Japan Opportunity Trust, focuses on neglected bargains in Japan's small-cap sector.

Japan Shintora Festival © Shizuo Kambayashi/AP/Shutterstock

Investors should look beyond Japan's "impossible script"
(Image credit: Japan Shintora Festival © Shizuo Kambayashi/AP/Shutterstock)

Yet again, Japan has been left behind. The US has returned nearly 20% this year and Europe 16%. Japan has returned 7%. There are two possible explanations: the "secular stagnation" of Japan and the lack of interest from professional equity investors.

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Max King
Investment Writer

Max has an Economics degree from the University of Cambridge and is a chartered accountant. He worked at Investec Asset Management for 12 years, managing multi-asset funds investing in internally and externally managed funds, including investment trusts. This included a fund of investment trusts which grew to £120m+. Max has managed ten investment trusts (winning many awards) and sat on the boards of three trusts – two directorships are still active.

After 39 years in financial services, including 30 as a professional fund manager, Max took semi-retirement in 2017. Max has been a MoneyWeek columnist since 2016 writing about investment funds and more generally on markets online, plus occasional opinion pieces. He also writes for the Investment Trust Handbook each year and has contributed to The Daily Telegraph and other publications. See here for details of current investments held by Max.