SoftBank Group’s swelling weight in Japan’s equity benchmark is pushing even its skeptics to buy the stock.
Founder Masayoshi Son’s bets on artificial intelligence have fueled a 146% surge in the stock since the fiscal year began in April, making it one of the Topix’s top performers. SoftBank’s weight in the gauge has doubled to 2% over the period, just behind blue chips such as Toyota Motor and Sony Group.
Despite concerns over SoftBank’s volatility and complex business model, fund managers need to hold it if they want to beat the market, according to Yoshiki Nagata, chief investment officer at enTorch Capital Partners.
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