Stick With What’s Working – Stick With Japanese Health Care by Bryce Coward, Gavekal Capital
Japan has been the forgotten equity market this year despite the impressive gains seen year to date. Indeed, on an equal weighted basis and in USD terms Japan is the best performing country in the developed markets as table 1 shows. It’s also the best performing major market by a mile with France coming in at only +4.2%. And within Japan, it been the Health Care stocks that have been the leadership group. As chart 1 shows, the Japanese Health Care sector has outperformed the MSCI World Index by about 23% so far this year. That’s because, as table 2 shows, every stock in the MSCI Japan Health Care sector has posted a gain and only 6 out of 23 stocks have a gain of less than 10%.
Below is our 13F roundup for some high profile hedge funds for the three months to the end of March 2021 (Q1). Q1 2021 hedge fund letters, conferences and more The statements only include equity positions as 13Fs do not include cash and debt holdings. They also only include US equity holdings. Funds may hold Read More
Disclosure: The above mentioned securities may be in our current portfolio. Please refer to our website for a current list of our holdings – http://www.gavekalcapital.com/ucits/