The AIC Asia Pacific including Japan sector used to be much larger than it is today but it became fashionable for investors to want to allocate money separately between Japan and the rest of Asia and, over time, many Asia Pacific including Japan investment companies were split up or wound up. There is still a separate Asia Pacific excluding Japan sector. Japan’s economy was very dominant in the region but in recent years it has been surpassed by China. Much of Japan’s trade is with other Asian countries, particularly China, and so its economic fate is increasingly bound up with theirs. There are two dedicated Japanese sectors, one for large cap funds and one for small cap funds. Asian property funds have their own sector as do funds that invest in just one Asian country.