SuMi Trust unveils new euro share class for its Value Satellite Fund
Japanese fund group SuMi Trust has unveiled a new euro share class for its Japanese Equity Fundamental Value Satellite Fund to expand its presence to European investors.
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The fund, which is currently managed by fund manager and CIO Masashi Oda, will continue to offer its existing Japanese Yen nominated class in addition to the new share class.
Moreover, the firm is planning to launch additional currency share classes later this year based on the to investor demand.
The move follows increasing demand for currency hedged investment in Japanese equities.
Hisaya Kambayashi, managing director of Sumi Trust, said: "As investor sentiment grows in response to prime minister Abe’s economic policies, we are seeing an increasing demand for Japanese equity products in Europe.
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By GlobalData"The Cabinet’s fiscal and monetary policy reforms are already helping to pull the country out of an era of deflation, while corporate governance reforms and a tightening of the labour market has created good long-term prospects for investing in Japanese equities.
"The introduction of this new share class will allow us to grow our presence in Europe, where we have been actively promoting our Japanese equity products since 2007," he added.
Sumi Trust now has $497bn in assets under management.
