Japan Equity Universe (exclude long/short only)

Strategy map
September 21, 2021
by Japan Equity Universe (exclude long/short only)

 

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Core GARP Engagement
[Definition]
(1)Invest in companies with stable Free Cash Flow Growth
(2)Well-established Brand
[Definition of Value]
(1)Portfolio primarily consists of stocks that are expected to have an above-average capital appreciation rate relative to the market.
(2)Generally have lower dividend yields and higher P/E ratios than Core or Growth counterparts.
[Definition]
(1)Invest in companies which need impact from outsider to lift value.
(2)Frequent communication with corporate managers. At least more than one time in every quarter.
(3)Holding # of stocks around/under 30.
(4)Improve company, mainly focusing on IR and/or financial capital structure. 
[Definition of Growth]
(1)Portfolio primarily consists of stocks that may be trading at a price lower than its fundamental or intrinsic value.
(2)Generally have higher dividend yields and lower P/E ratios than Core or Value counterparts
 >> First Sentier (First Sentier Japan Equity Fund)  >> Nippon Value Investors (Nippon Value Investors Japanese Equity)  Taiyo (Taiyo Fund)
   MFS (Japan Concentrated Equity)  Resona AM (Resona Japan Equity Value Research Alpha Fund)  >> VARECS (VARECS Japan Equity Small Cap)
   Lindsell Train  (Japanese Equity)  Wellington Management (Japan Value Realization)  >> Aizawa (Asuka Value Up)
   >> Comgest (Comgest Japanese Equity)  Invesco (Japanese Equity Value Discovery)   >> Strategic Capital (Strategic Capital Japan-Up Unit Trust)
 Dalton Investments (Dalton Japan Equity)    >> Symphony (SFP Value Realization Fund)
 Natixis/Harris Associates (Harris Japan Equity)    GO Investment Partners (The TMAM-GO Japan Engagement Fund)
 Nikko (Japan Value Equity Strategy (Fundamental Value))
 Sumitomo Mitsui DS Asset (DS_Japan Equity Value Plus Alpha)
   >> KU and Associates (KUAssociates Value)
 Pictet (Pictet Japanese Equity Selection)
 Asset Management One (Research Active GARP)
 RBC Global (RBC Japan Equity)
 Lazard (Japanese Strategic Equity)
 Fidelity Institutional (Japan Sustainable Growth)
 Nomura (Nomura Japan Active Growth Equity)
 J.P. Morgan Investment (JPM Japan Growth)
(Source) HC Asset Management, based on the information provided on eVestment and homepage of each company (as of June, 2021)
(Screning criteria): Selected from funds with product AUM \5 bil. and above, Open to new investment and database available in JPY and etc.
                               Definitions of equity style emphasis based on both eVestment’s and HC’s independent guideline.