Top-Performing Japan Fund Favors Banks on More BOJ Rate Hikes [BNN Bloomberg (Canada)]
Mitsubishi UFJ Financial Group, Inc. (MUFG)
Company Research
Source: BNN Bloomberg
the nation's lenders and construction companies after the central bank ended negative interest rates. Lenders are attractive because their loan margins will increase after the Bank of Japan hiked rates for the first time in 17 years this week, said Yutaka Uda, the president and chief investment officer of Evarich in Tokyo. The monetary policy move is also a sign that the BOJ considers economic growth to be on a solid footing, a plus for builders as well as banks, he said. “Some say bank shares may be over for now as major market movers, but there's no way that's true,” said Uda, who has overseen Japanese stocks for more than 50 years. “Another rate hike will come in June to September, and in the year-end as well. For the next two years, it's unavoidable for interest rates to rise.” The top holdings of his Nippon Growth Fund include Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. The ¥17 billion ($113 million) fund has returned more than 22% so far th
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MUFG
Sec Filings
- 4/17/24 - Form 6-K
- 4/9/24 - Form 424B2
- 4/9/24 - Form FWP
- MUFG's page on the SEC website