Eastspring Investments – Japan Smaller Companies Fund

Eastspring Investments believe that the time is right for Japan’s small to mid-caps (SMIDs) to rally. The universe of SMID stocks is wide and diverse, as such investor can enjoy diversification benefits by investing in Japanese SMIDs. The asset manager argues that an active investment approach is the best way to realise the full benefits.

The Japan Smaller Companies Fund invests primarily in securities of small and medium-sized companies, which are incorporated, listed in or have their area of primary activity in Japan.

Key Information

Investment Category Japan Equity
ISIN LU1235131007
Benchmark Index Russell/Nomura Mid-Small Cap Index
Inception Date (share class) 18 May 2015
Assets Under Management (AUM)* 173,77 mn USD
Annual Management Fees 0.875%

*as of 12 June 2024

Strategy

Eastspring’s Japan Smaller Companies Fund seeks to generate long-term capital growth through a concentrated portfolio of the team’s highest conviction investment ideas. The team employs a disciplined, priced focused approach anchored around relative valuation to identify and exploit behavioral sources of mispricing.

Performance

1 Year (Fund / Benchmark) 14.9% / 12.3%
3 Years (Fund / Benchmark)* 9.2% / 3.5%
5 Years (Fund / Benchmark)* 8.5% / 4.5%
as of 30 April 2024; *per annum

Note: Past performance is no guarantee of future performance.

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Portfolio

The Eastspring Investments – Japan Smaller Companies Fund holds 52 securities. The two largest allocations sectorwise are Industrials (26.7%) and Materials (24.6%), making for over 50% of the portfolio. Consumer Discrestionary (13%), Financials (12.3%) and technology (10.3%) complete the top 5.

The five largest holdings are:

  • Ricoh (3.1%)
  • Oki Electric Industry (3%)
  • Sankyu (2.9%)
  • Mebuki Financial Group (2.8%)
  • Stanley Electronic (2.8%)

 

All data as of 30 April 2024

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