Should I take advantage of the exchange rate

[Stuart]

I'm a retired, long-term resident of Japan with PR and no intention of returning to the UK.
I have an onshore investment in GBP that has performed reasonably well over the last 25 years,
and which I can access at any time. I have a pension here and
also some savings.

Since I am based here, I am thinking of converting my UK funds to Yen and transferring them to JP.
With the current exchange rate, the value of the funds looks attractive. I am wondering if I should take
advantage of the exchange rate. Or perhaps there are some other smarter possibilities.

I wonder if anyone has any advice on the above. I would appreciate any comments or suggestions.

[RetireJapan]

One option might be to bring the funds over and invest in a NISA account (if you haven't maxed it out already). Investing in Japan through a Japanese broker would simplify any tax paperwork going forwards too, even in a taxable account.

[Deep Blue]

Depends what the investment is. If its GBP time deposits then it could be worthwhile, but none of us know the future exchange rates.

If its invested in equities or bonds then it will just incur transition costs to sell in the UK and re-buy in Japan. Yes, you repatriate to a cheap JPY but you need to use the same cheap JPY to buy the assets again from Japan. So you don't gain anything.

If you are simply thinking to sell the investment and leave the proceeds in cash that's a different equation - more to do with is this a good time to sell the asset rather than is this a good time to buy JPY.

If you can make use of a CGT allowance or you can re-buy here in a more tax efficient vehicle like the NISA then it might well be worth it.