Regarding our long-standing theme of rebalancing in the Eurozone, recent trends have been more negative, so we offer this summary with some relevant charts.
Last month we described Japan’s “Show me the Money” corporate governance as regards the sharp rise in corporate profit margins to new highs. This theme is paralleled by the trend in dividend payments.
During the Federal Open Market Committee (FOMC) meeting in June, the US Federal Reserve (Fed) announced an additional USD 10bn per month in tapering, while keeping the target rate at 0.25%.
Asia Pacific ex-Japan markets performed in-line with global counterparts returning 1.7% in USD terms versus 1.8% for MSCI World.
The plan to lower Japan’s corporate tax rate as part of the government’s growth strategies is attracting a great deal of attention from the markets, but equally important is the government’s initiative to strengthen corporate governance and to change how company managers think about governance.
At an extraordinary meeting on 24 June, Japan’s Cabinet approved a new growth strategy and the detailed policy proposals to implement it.
Soft copies of the semi-annual accounts/reports for the funds mentioned in the investor notice dated 28 February 2019 are available on “Authorised Funds” webpage. However, if you are interested to receive printed copies of the semi-annual accounts/reports for the funds that you have holdings in, please contact us at Tel: 1800-535 8025 DID: +65 6535 8025.
The Corporate Sustainability Department that Nikko Asset Management recently established embodies the Firm’s enduring commitment to integrating environmental, social, and governance (ESG) principles in every aspect of its operations.