Martin Currie Pacific Trust is selling Japanese equities to refocus its portfolio, FundWeb reports. The team managing the £136.3 million trust has sold shares of two Japanese chemical companies, Shin-Etsu Chemical and JSR Chemical Technologies, while the weightings of Japanese car manufacturer Toyota has been reduced.
The MSCI All Country Asia Pacific Index will continue to be the portfolio’s benchmark, but the Japan element will be fixed at 25%, plus or minus 15%. The team has included port and logistics company China Merchant Holdings and Hong Kong-based insurance company AIA to its Asia holdings.
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