Japan looks set to outpace US and Europe after underperformance

Japan will outperform other major markets over 2003 and offers less downside risk, according to JP Morgan Fleming (JPMF) Japan manager, Yukiko Sugimoto.

Managing some $800m in the JPMF Nippon Neutral hedge fund, which has been running for eight years, and the group's newly-launched Leveraged Nippon Neutral, Sugimoto says opportunities continue to be found on both the long and short side.

The less efficient the market, the greater the opportunities presented, she notes, and Japan has been an excell