Die besten Japan Sm&MidCap Aktienfonds

Die Fondsmanager der besten Japan Sm&MidCap Aktienfonds haben exklusiv 5 Fragen zur Bewertung im aktuellen Marktumfeld, den relevanten Kennzahlen, sowie den Gewichtungen, Performances und ihrer Einschätzung zur Marktentwicklung beantwortet.

e-fundresearch: "Welche Kennzahlen zur Bewertung japanischer Small/MidCap Aktien sind im aktuellen Marktumfeld aussagekräftig?"

Tadahiro Fujimura, Senior Fund Manager, "Swisscanto (LU) Eq Fd Small & Mid Caps Japan B" (18.05.2010): "The facts relevant to us are 1) firms with a low PBR or those that have been laggards in recent months, regardless of their short-term earnings outlook, performed well and 2) companies that had risen sharply since the beginning of the year fell on profit-taking."

Yun-Young Lee und Michael Wood-Martin, Fondsmanager, "Henderson HF Japanese Smaller Companies A2" (18.05.2010): "As a small cap manager, I always look for the company to deliver strong earnings growths medium term. In the economy which GDP growth is almost zero, it is not easy task to find the companies which deliver double digit earnings growth potential medium term."

Koji Nakatsuka, Fondsmanager, "Allianz RCM Japan Smaller Companies - A - EUR" (18.05.2010): "Price/book value ratio (PBR) is the appropriate valuation measure for Japanese Mid/Small Cap stocks."

Nakaba Minai, Co-Lead Portfolio Manager, "Goldman Sachs Japan Small Cap Pf Base Curr JPY" (20.05.2010): "Stock prices have been reacting dramatically to the new fiscal year’s guidance that each company has announced since the end April, which is the most relevant factor for stock price formation in the current market environment. Compared to large cap market, as there are less consensus for earnings estimates for each company in small/mid cap market, stock prices have reacting hugely on earnings guidance announcements."

Ayumi Kobayashi, Fondsmanagerin, "Schroder ISF Japanese Smaller Companies A Acc" (19.05.2010):
"- The large manufacturers’ diffusion index in the March BOJ Tankan survey of corporate sentiment showed a fourth straight quarter of improvement
- The Economy Watchers Survey by the cabinet office showed a forth straight month of improvement in March
- March core CPI decreased by 1.2%, the thirteenth consecutive y/y decline
- March industrial output increased by 0.3% m/m
- New housing starts dropped by 2.4% in March
- Department store sales still decreased by 3.5% in March, the 25th consecutive m/m decline."

e-fundresearch: "Wie interpretieren Sie diese relevanten Kennzahlen?"