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The latest Reuters poll of Japanese fund managers showed that a majority of them boosted their overall exposure in equities and trimmed their bond holdings in November.

Key Findings:

“Respondents on average allocated 39.1 percent of their model portfolios to stocks in November, compared with 38.7 percent in October.

The fund managers kept their exposure to key equity markets unchanged from the previous month, with holdings of Japanese, North American and euro zone stocks steady at 48.8 percent, 28.7 percent and 13.2 percent, respectively.

Although respondents cut their portfolios’ overall bond exposure to 54.0 percent in November from 54.6 percent in October, they increased their Japanese bond holdings to 42 percent from 35 percent.

They shaved their North American bond exposure to 29.5 percent in November from 30.0 percent in October and reduced eurozone bonds to 22.6 percent from 28.0 percent.”