Japan’s new mutual-fund sales this month rose to the highest level since the Lehman Brothers Holdings Inc bankruptcy in September, indicating private investors may be regaining their appetite for risk, Morningstar Japan KK said.
Sales of new mutual funds rose to ¥333 billion (US$3.5 billion) this month, the most since July last year, data compiled by Bloomberg showed.
CONFIDENCE
Japanese consumer confidence climbed to a 10-month high last month, and the Nikkei 225 Stock Average has gained 35 percent from the 26-year low reached on March 10.
“Investors’ latitude has widened as investments, including Chinese and Indian stocks and bonds, have risen in value,” said Tomoaki Fujii, a senior analyst at Morningstar Japan.
Nomura Holdings Inc, Japan’s biggest securities firm, posted ¥232 billion in total sales of three funds this month as its “Nomura Global Semiconductor Stocks 0905” attracted ¥87.6 billion, the most for a single fund since November 2007.
INQUIRIES
“We have a lot of inquiries for new funds,” said Riyo Azechi, a spokeswoman at Nomura Holdings. “I have the impression that more customers are investing in stock-related funds, including overseas shares.”
Individual investors ready to jump back into stocks are following some institutions with similar risk appetite. Nippon Life Insurance Co, Japan’s biggest life insurer, said last month it planned to increase investment in equities by as much as ¥100 billion, bucking a trend that had smaller rivals maintaining or trimming holdings.
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