Daiwa Asset Management is set to start operating a mutual fund that invests in stocks related to U.S. President-elect Donald Trump’s infrastructure investment policy. Daiwa will launch the product on Tuesday.
The open-end mutual fund — the first of its kind in Japan since Trump’s election victory in November 2016 — is likely to be made available to retail investors by the end of the month.
The U.S. infrastructure builder equity fund, which invests in U.S. companies, will quantify how much each stock will benefit from Trump’s infrastructure policy, based on criteria such as sales ratio in the U.S. and the degree of obsolescence of the target infrastructure. The details of the portfolio will be determined by how much share prices are undervalued and how competitive the companies are.
The portfolio, comprising 30-50 companies — mostly in the construction, transport and materials sectors — will be adjusted as appropriate as Trump’s policy takes form.
Trump has pledged to spend $1 trillion to overhaul the country’s aging infrastructure over the next decade.
The ancient Chinese geomantic practice of feng shui still carries huge influence in Hong Kong, with its philosophy permeating all aspects of society and the economy in this money-driven territory of gleaming office towers.
Under the feng shui system, the auspicious positioning of objects is believed to ensure harmony, health and fortune. Many in Hong Kong resort to feng shui when making almost all important decisions, especially in choosing and configuring sites and structures, to ensure good luck, especially when it comes to making money.
The system revolves around the philosophy of “chi,” or vital energy held to animate the body, and is designed to allow people to interact in harmony with the environment.
One Japanese woman living in Hong Kong said feng shui has come to affect just about every important decision for her family, including the selection of the day of her marriage to a local man and the name of their child.
How seriously people in Hong Kong take this tradition can be seen in the big holes deliberately made in the sides of buildings and in the popularity of wells.
Eight men now own the same amount of wealth as the poorest half of the world. A top corporate CEO earns as much in a year as 10,000 garment factory workers in Bangladesh. And the world’s 10 biggest corporations together have revenue greater than the 180 poorest countries combined, according to a study published Sunday by Oxfam.
The report, An economy for the 99%, was released as global leaders and the business elite traveled to Davos, Switzerland, for the annual meeting of the World Economic Forum, a conference partly aimed at eliminating extreme income inequality. The study found that the richest eight people on the planet have net wealth of $426 billion — equivalent to what’s held by the bottom half of the world’s population.
“From Nigeria to Bangladesh, from the U.K. to Brazil, people are fed up with feeling ignored by their political leaders, and millions are mobilizing to push for change,” British-based Oxfam said in a statement. “Seven out of 10 people live in a country that has seen a rise in inequality in the last 30 years.”
The study is the latest in recent years by Oxfam, an international poverty-fighting group, to campaign for ways to reduce the growing gap between the rich and poor. Oxfam called on President-elect Donald Trump, world leaders and the international business community to “take urgent action to reduce inequality and the extreme concentration of wealth by ensuring that workers are paid a decent (salary) and by increasing taxes on both wealth and high incomes.”
“It is mind-boggling that just eight men own as much wealth as the poorest half of the world’s population, but that’s the sobering reality of 2017,” said Paul O’ Brien, Oxfam America’s vice president for policy and campaigns. “Such dramatic inequality is trapping millions in poverty, fracturing our societies and poisoning our politics.”
Oxfam based its calculations on data from Swiss bank Credit Suisse’s 2016 Global Wealth report and Forbes’ billionaires list of the world’s richest people.
And the teacher won’t send you to the principals office