Strategy map
September 30, 2019
by Japan Equity Universe (exclude long/short only)
by Japan Equity Universe (exclude long/short only)
- Private: Japan Only Private Equity/Debt
- Private: Japan Only Real Estate/Real Asset
- Japan Equity Universe (exclude long/short only)
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| Core | Value | Engagement | Other Opportunistic |
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[Definition] |
[Definition] |
[Definition] |
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| Stable Free Cash Flow Growth | (1) Invest in companies which can improve their value by themselves backed by high governance quality. | (1) Invest in companies which need impact from outsider to lift value. | ||||||||||||||||||||||||
| - Stable FCF | (2) Can confirm value by numbers, such as PBR, PER and/or a reasonable multiple. | (2) Frequent communication with corporate managers. At least more than once in every quarter. | ||||||||||||||||||||||||
| - Longevity of FCF growth | (3) Holding # of stocks around/under 50. | |||||||||||||||||||||||||
| - Well-established Brand | (4) Benchmark agnostic. | (3) Holding # of stocks around/under 30. | ||||||||||||||||||||||||
| (4) Improve company, mainly focusing on IR and/or financial capital structure. | ||||||||||||||||||||||||||
| >> First State (First State Japan Equity Fund) | >>Simplex (Simplex Japan Value Up Fund) | Taiyo (Taiyo Fund) | >>USONIAN (USONIAN JAPAN VALUE FUND) | |||||||||||||||||||||||
| >>Comgest (Comgest Japanese Equity) | >>Lazard (Lazard Japanese Equity Fund) | >> VARECS (VARECS Japan Equity Small Cap) | >>J Flag (Simplex J Flag Strategy) | |||||||||||||||||||||||
| Burgundy (Burgundy Focus Japan Equity) | Marathon (Marathon UCITS Funds – Japan Equity Fund) | >>Asuka (Asuka Value Up) | >>Fivestar (Japan long/Short Strategy Fund) | |||||||||||||||||||||||
| Lindsell Train (Lindsell Train Japanese Equity) | >>KU and Associates (KU and Associates Value Strategy) | >>Strategic Capital (Strategic Capital Japan-Up Unit Trust) | >> Tango (Tango Japan Equity Strategy) | |||||||||||||||||||||||
| ValueInvest (ValueInvest AM Japan Value Strategy) | >>Nippon Value Investors (Nippon Value Investors Japanese Equity) | >>Symphony (SFP Value Realization Fund) | >>Orbis (Orbis Japan Equity Fund) | |||||||||||||||||||||||
| RMB Capital (RMB Japan Opportunities Fund) | GO Investment Partners (The TMAM-GO Japan Engagement Fund) | >>SpiritUs (SpiritUs Distillation Strategy) | ||||||||||||||||||||||||
| Dalton Investments (Dalton Japan Equity) | ||||||||||||||||||||||||||
| Eastspring (Japan Focused Value) | ||||||||||||||||||||||||||
| MFS (Japan Concentrated Equity) | ||||||||||||||||||||||||||
| MFS (Japan Equity) | ||||||||||||||||||||||||||