According to the latest Reuters survey of five Japan-based fund managers, the respondents increased their equity exposure in April at the expense of the Japanese bonds.
“Respondents on average wanted to allocate 39.1 percent of their model portfolios to stocks in April, from 38.7 percent in March
Respondents kept their allocations to North American, euro zone and Japanese equities unchanged from the previous month at 28.0 percent, 8.3 percent and 43.8 percent, respectively
Raised their overall bond exposure to 55.5 percent in April from 55.1 percent in March
Reduced their North American bond holdings to 31.9 percent from 35.1 percent while increasing euro zone debt exposure to 20.5 percent from 16.8 percent.
The respondents trimmed their Japanese bond exposure to 37.3 percent in April from 38.4 percent in March.”