Asia's top ESG funds are reaping the rewards of investing in Japan, a market largely ignored even by local money managers focused on sustainability.
ASIA’S top ESG funds are reaping the rewards of investing in Japan, a market largely ignored even by local money managers focused on sustainability.
Money managers with sustainable mandates in Japan have generally avoided their domestic market, citing relatively low returns and subpar environmental, social and governance practices. Those that have stuck close to home are benefiting from improved corporate governance, a dose of inflation and an endorsement from billionaire investor Warren Buffett. That’s compounding optimism about Japanese stocks, which have been among the best performers in the world this year.
ESG-focused funds comprise investments with general attributes including a focus on climate change and clean energy as found in Bloomberg data.JAPANESE mid-cap stocks meanwhile are helping the performance of the iMGP—Japan Opportunities fund, which has beaten 90 percent of peers this year, according to Bloomberg data.
“They just don’t have the resources to write the nice reports that ESG ratings agencies like” and are penalized for it, he added.
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