OEIC
Japanese Equity Fund
Seeking to uncover the best investment opportunities across the Japanese equity spectrum.
3YR Return Annualised
(View Total Returns)
Total Assets
(GBP)
1YR Return
(View Total Returns)
Manager Tenure
Inception Date 13-Mar-2017
Performance figures calculated in GBP
Strategy
Investment Objective
To increase the value of its shares through growth in the value of its investments.
Investment Approach
- Macroeconomic factors have a role, but our approach is primarily bottom-up and research driven.
- Growth opportunities are found across the capitalization spectrum and across market sectors.
- Risk is managed at stock, sector, and cap-range levels.
- Portfolio rebalancing is an effective risk management tool.
Portfolio Construction
- Typically 80-110 stock portfolio
- Minimum individual position size is 0.40%
- Individual position sizes can range +/- 2.00% relative to the benchmark
- Sector weightings vary from +/- 10% of the benchmark
- Tracking error expected to range between 300 and 600 bps
- Target reserves less than 5%
Performance (Class C)
Annualised Performance
| 1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
|
|---|---|---|---|---|
| Fund % | 21.36% | 10.83% | N/A | 10.61% |
| Indicative Benchmark % | 8.63% | 4.30% | N/A | 3.50% |
| Excess Return % | 12.73% | 6.53% | N/A | 7.11% |
| 1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
|
|---|---|---|---|---|
| Fund % | 2.15% | 4.65% | N/A | 4.15% |
| Indicative Benchmark % | -2.89% | 0.84% | N/A | -0.10% |
| Excess Return % | 5.04% | 3.81% | N/A | 4.25% |
Recent Performance
| Month to DateData as of 02-Jul-2020 | Quarter to DateData as of 02-Jul-2020 | Year to DateData as of 02-Jul-2020 | 1 MonthData as of 31-May-2020 | 3 MonthsData as of 31-May-2020 | |
|---|---|---|---|---|---|
| Fund % | -2.70% | -2.70% | 7.62% | 11.10% | 21.13% |
| Indicative Benchmark % | -1.66% | -1.66% | -2.68% | 8.17% | 8.18% |
| Excess Return % | -1.04% | -1.04% | 10.30% | 2.93% | 12.95% |
Past performance is not a reliable indicator of future performance. Source for fund performance: T. Rowe Price. Fund performance is calculated using the official NAV with dividends reinvested, if any. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested. It will be affected by changes in the exchange rate between the base currency of the fund and the subscription currency, if different. Sales charges, taxes and other locally applied costs have not been deducted and if applicable, they will reduce the performance figures.
Effective 1 June 2019, the "net" version of the indicative benchmark replaced the "gross" version of the indicative benchmark. The "net" version of the indicative benchmark assumes the reinvestment of dividends after the deduction of withholding taxes applicable to the country where the dividend is paid; as such, the returns of the new benchmark are more representative of the returns experienced by investors in foreign issuers. Historical benchmark performance has been restated accordingly.
Holdings
Total
Holdings
57
Largest Top Contributor^
Miura
By 0.08%Largest Top Detractor^
SOFTBANK GROUP CORP
By -1.40%Top Purchase
Chugai Pharmaceutical
5.27%Top Sale
Shimano (E)
0.00%Sectors
Total
Sectors
12
Largest Overweight
It & Services & Others
Largest Underweight
Banks
Team (As of 02-Jul-2020)
Archibald Ciganer is the portfolio manager of the Japan Equity Strategy in the International Equity Division. He is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Japan, Inc.
Archibald’s investment experience began in 1999, and he has been with T. Rowe Price since 2007, beginning in the International Equity groupDivision. Archibald began his career as a credit analyst with BNP Paribas in Japan. Subsequently, he served as an associate in the firm'sBNP’s Investment Banking Department and, most recently, as a vice president in Mergers and Acquisitions, where he handled a number of cross-border transactions for blue chip Japanese and foreign corporates.
Archibald earned a B.A. in finance and accounting from Institut d'Etudes Politiques de Paris (sSciences pPo.). Archibald He also has also earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Fund manager2017
since - Years at12
T. Rowe Price - Years investment20
experience
Laurence Taylor is a portfolio specialist in the Equity Division at T. Rowe Price, representing the firm's global equity strategies to institutional clients, consultants and prospects. Mr. Taylor is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.
Mr. Taylor has 19 years of investment experience, 10 of which have been with T. Rowe Price. Prior to joining the firm in 2008, Mr. Taylor was a quantitative portfolio manager at AXA Rosenberg, with responsibility for European institutional clients, and began his career at Hewitt Associates in the UK investment practice. At Hewitt, Mr. Taylor provided investment advice to European institutions as a client-facing consultant before specializing in the research and selection of global and regional equity managers in the manager research team.
Mr. Taylor obtained his B.A., with honours, from Greenwich University and has earned the Chartered Financial Analyst designation.
- Years at11
T. Rowe Price - Years investment20
experience
Fee Schedule
| Share Class | Minimum Initial Investment and Holding Amount | Minimum Subsequent Investment | Minimum Redemption Amount | Sales Charge (up to) | Management Charge | Ongoing Charge |
|---|---|---|---|---|---|---|
| Class C | £10,000 | £500 | £500 | N/A | Up to 75 basis points | 0.92% |
Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.
Archibald Ciganer is the portfolio manager of the Japan Equity Strategy in the International Equity Division. He is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Japan, Inc.