Daiwa Asset Management, Japan's second largest money manager, expects high yields will attract retail money into bond mutual funds that invest in countries such as Turkey, while many investors will also seek shelter in
Japanese bond funds.
The yen's appreciation and weakness in global share prices stemming from Europe's debt crisis have hit the performance of Japanese investment trust funds, a type of mutual funds known as toushin, which prompted big outflows until March.
The industry is seeing more inflows now, but the outlook may be tough with the yen regaining strength and euro zone's debt crisis worsening, Makoto Shirakawa, the president of Daiwa Asset, told Reuters in an interview.
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