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$2 Billion Japan Fund Says Good Riddance to 'Dumb Money'

  • Brian Heywood says Taiyo Pacific is beating Topix this year
  • Says Abe should cancel sales-levy increase, cut corporate tax
Brian Heywood.

Brian Heywood.

Photographer: Kiyoshi Ota/Bloomberg
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Brian Heywood, who oversees about $2 billion mostly in Japanese equities, is putting on a brave face as the market tumbles and many foreigners head for the exit.

The chief executive officer of Taiyo Pacific Partners LP says he welcomes the selling by overseas investors as it gives him a better chance to beat his benchmark. His logic is that many money managers invest indiscriminately in Tokyo, pushing up the entire Topix index and making stock-picking less effective. Heywood says his fund is outperforming the equity gauge this year, while declining to give details.