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Japan

Japan er bare anderledes

De japanske aktiefonde var blandt vinderne i 2008, på trods af den finansielle krises stærke indvirkning på Tokyo.

Thomas Fleron Hansen 02/02/2009

Det er bestemt ikke dårlige nyheder der har manglet fra Japan den senere tid. Nyhederne er kommet i en lind strøm, fra både den økonomiske og politiske scene. På trods af dette var de japanske aktiefonde blandt dem der tabte mindst i rædselsåret 2008.

Først og fremmest skal de japanske fondes fornuftige resultater i 2008, ses i forhold til yennens himmelflugt i det sidste halvår af 2008. Efter at have ligget i et niveau på mellem 4,5-5,0 kr. i de seneste år, koster 100 yen i dag mere end 6,25 kr. Da de danske Japan fonde typisk ikke foretager valuta afdækning, har yennens styrkelse overfor den danske krone, altså påvirket afdelingernes afkast positivt.

Sammenligner man afkastet på børsen i Tokyo målt i yen, med afkastet på de øvrige store børser, har de japanske akti

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Thomas Fleron Hansen  

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