What's Hot, What's Not: China and Property Hot, Japan Not [Sector Edition]

What’s Hot

• China continues its recovery, albeit still very short-term, so we must not be complacent.
• The two UK sectors highlight a bounce in some underlying Value-style funds and mid-cap funds.  Interesting.
• Property Other is funds invested into quoted property companies, not bricks and mortar per se, so they responded positively to the prospect of a lower peak in interest rates.
• We know global emerging markets are cheap, but it is not easy to anticipate specific strong months.  This bounce is welcome.

What’s Not

• The two Japanese sectors highlight profit-taking in Japan.  But they also mask some funds which went up in the month e.g. M&G small-cap.
• The remaining sectors have not fallen, and there is nothing of note to say on these…
• …but for emerging market bonds also appear decent value.

What’s Hot

What’s Not