The Japan is a gateway to the growth of the Asian continent with a number of high quality companies, both insemiconductor industry, which in consumer brands or in the application forfactory automation. And this looks like the time to invest in Japanese equities. The resignation of the premier Suck have put an end to a negative perception linked to the management of Covid crisis: Investors are again willing to invest in attractive equity themes in Japan.
Regarding the peculiarities of the market in Japan, in addition to the continued success of the Europe, World and emerging countries equity strategies, we also noted a growing interest in our fund Comgest Growth Japan, which allows for indirect Comgest-style equity exposure to Asia and China. We continue to think long-term equity returns are attractive and can offer good diversification. Our management style allows us to obtain this type of diversification but with a defensive approach thanks to the quality and growth of the companies in which we invest, generally less exposed to the volatility of economic cycles.
The change in leadership has been a key catalyst in the short term: the Japan it is undergoing a drastic change, as demographic and social pressures of recent years have created a political consensus for reform. The Japan it has a new leader now, and will focus on the necessary reforms. Meanwhile, the vaccination rates Covid in Japan they have reached the other western countries and the next quarter will be extraordinary, because people will be going out again, the shops and restaurants are full again and the employees are back to their routines.