Permal ups long exposure in Japan, China, wary of EM

UK fund of hedge funds firm Permal has increased long exposure to Japan and China while keeping a cautious stance on emerging market equities as market sentiment adjusts to changing macro conditions. Despite Japan’s market correction in May, the firm has an optimistic view on the country, taking a longer position on the market in mid-June, according to Permal chief executive Isaac Souede. Abenomics is, in a broader sense, a plan for long-term structural reform and “not light wor…