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One of the worlda??s biggest wealth managers says Japan is poised for a??imminent takeoffa?? in 2022, with economic growth set to match that of the US and much cheaper stock market multiples

One of the worlda??s biggest wealth managers says Japan is poised for a??imminent takeoffa?? in 2022, with economic growth set to match that of the US and much cheaper stock market multiples
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Axa Investment Managers' $981 billion in assets make it one of Europe's biggest investors.




The fund firm has picked out Japan as a potential strong performer in 2022.




Axa also said it expects global supply chain and inflationary pressures to ease.


Next year is likely to be one of economic recovery, even though inflation has picked up and the threat from the coronavirus is far from over. Axa Investment Managers, one of the world's largest asset managers $981 billion under its watch,A is tipping Japan as one market that looks set for a strong bounce-back in 2022.While the US economy and equities market has seen a meteoric resurgence from the pandemic-triggered crash of early 2020, stocks in the world's third biggest economy have lagged behind.In a contribution to Axa's 2022 outlook research note, Hugo Le Damany, an economist focused on core investments, pointed out that Japan has been held back by a slow vaccination roll-out and a longer period of restrictions than the US and much of Europe.The Nikkei has returned a paltry 4.78% over the past year, a figure trounced by the S&P 500's remarkable 24.83%. As a result, price-to-earnings ratio of the stocks in the Japanese benchmark index is just 15.98, compared with almost 25 for the S&P 500, according to Bloomberg data.
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