Japan Equity Universe (exclude long/short only)

Strategy map
April 15, 2020
by Japan Equity Universe (exclude long/short only)

 

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Core Value Engagement Other Opportunistic

[Definition]

[Definition]

[Definition]
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.  
(4) Benchmark agnostic. (3) Holding # of stocks around/under 30.
    – Well-established Brand (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)
(Source) HC Asset Management, based on the information gathered independently and from the homepage of each company (as of Mar, 2020)