Japan Fund Managers Get Bearish on Abenomics: Survey

Fund managers have lost faith in Prime Minister Shinzo Abe’s efforts to kick start the Japan’s economy, a new survey found.

Only 16 percent considered Abenomics, or Abe’s three-pronged plan to revitalize the economy, a success, down from 72 percent in 2015, the AIMA Japan and Eurekahedge survey of investors with Japan mandates found.

While 76 percent of the 2016 respondents said that Abenomics has been a partial success, they weren’t particularly rosy on the future. Around 44 percent said Abenomics has little potential ahead, with 9 percent even more pessimistic, saying it has no further potential.

Only around 40 percent expect Japan’s economy to grow this year, down from 93 percent last year, with 51 percent this year expecting no growth and 9 percent expecting a contraction, the survey found.

CNBC

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.