Value investing to get less effective in Japan?

The growing focus on corporate governance in Japan may be a positive trend but it could result in fewer value opportunities over the long term, says Jeffrey Atherton, senior portfolio manager of the Man GLG Japan CoreAlpha strategy. The $7.7 billion fund focuses on large-cap value investing – that is, buying stocks it believes are underpriced. This approach tends to work better in markets where there is less emphasis on corporate transparency and best practice, because that makes …