Invesco Is Taking Profit on Weak Yen Plays and Buying China
- Invesco’s Roberts likes cash-rich property firms in China
- Sells Japan exporters like Honda on view yen drop is ending
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A top-performing Asia stock picker is pocketing gains in Japanese exporters on bets the yen’s tumble is nearing an end, and is instead buying Chinese shares that have become cheap.
The Invesco Pacific Fund UK, which has outperformed 91% of its peers in the past year, has cut positions in exporters like Honda Motor Co. over that period, according to fund manager Tony Roberts. “I wouldn’t expect the yen to weaken much more further from here,” he said.