Japan fund managers chase retail cash as JGB yields surge

TOKYO, Aug 12 : After years of paying investors almost nothing, Japanese government bonds are suddenly worth owning again, and domestic asset managers are hurrying to give ordinary investors a way in.With yields on long-term JGBs now rivalling those of U.S. Treasuries and German bunds, Mitsubishi UFJ Asset Management has joined Daiwa Asset Management and Amova Asset Management in selling investment trusts focused on the super-long bonds.Japan's 30-year JGBs trade at a near 4 per cent yield, higher than Germany's 30-year bond yield of around 3.6 per cent, and close to the 5.2 per cent of 30-year U.S. Treasuries. While the size of each fund is relatively small at no more than 3 billion yen ($18.84 million), their proliferation is a sign of reinvigoration of the debt market that had been domi