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Japan July retail trust funds value hits 10-mth high

Reuters – The value of Japanese retail-targeted mutual funds rose to a 10-month high of 58.8 trillion yen ($613 billion) in July, lifted by inflows into international equities funds and strength in share prices, an industry body said on Thursday.

It was the sixth straight month of increases in the value of publicly placed investment trust funds, or "toshins", as signs of a global economic recovery boost investor confidence. The value was also helped by rises in share prices, with the benchmark Nikkei share average .N225 gaining 4 percent in July.

The overall value of publicly placed investment trust funds rose by 1.7 trillion yen or 3 percent from the previous month to 58.8 trillion yen in July, the highest since September, Japan’s Investment Trusts Association said.

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