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Time to buy?

Some fund managers are not spooked by the troubles at Japanese Internet company Livedoor Co. Japan's economic fundamentals are strong and the Nikkei's tumble may present a good buying opportunity.

Fund Dec. 2005 Net Assets ('000) Dec. 2004 Net Assets ('000) Performance as of Dec. 31, 2005 1 yr. return Performance as of Dec. 31, 2005 % in Japan
Investors Japanese Equity-A272,968199,94817%97.84
CIBC Far East Prosperity143,629132,06120.23%66.73
CI Pacific127,948108,17820.75%52.99
RBC Asian Equity113,46187,51225.26%59.7
AGF Japan Class106,57676,23017.03%97.28
Altamira Asia Pacific86,75285,29514.15%46.35
AIM Indo-Pacific63,43459,09017.94%43.77
TD Pacific Rim - I56,86558,33115.52%17.56
Franklin Japan Corp Class47,99310,17239.24%94.18
Fidelity Japan-A47,896103,14422.86%93.4

Justin Nightingale


"Livedoor is more a catalyst rather than an actual source of concern. After the run-up that we had, particularly in the back half of last year, Livedoor is just an excuse for people to do some profit taking ... A 5.7-per-cent decline off of last year when they [the Nikkei] were up 40 per cent is really not the end of the world."

A. Scott Penman


"The fast money has reacted ...Over a long period of time, this will be a speed bump. At the time that you are on it, it's uncomfortable. Typically markets, through a corrective period, take not only price action but time to digest."

Don Reed


"It is an isolated situation and, in fact, what it's caused is other people to get active on the sell side and say 'gee, maybe we should take some profits' ... We take a look and see if it makes sense for us to either add to existing positions or initiate positions."

Gavin Graham


"You are going to get these type of pull-backs. This is a very strong and very broad-based bull market ... The Japanese market is volatile in both directions. When stuff like this comes, you should say thank you very much, I will buy some."

© 2007 The Globe and Mail. All rights reserved.

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