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For investors in Singapore

Horizon Japanese Smaller Companies Fund

Designed to capture the undervalued growth potential of Japanese smaller companies over the long term

ISIN
LU0572961604

NAV
JPY 9,884.13
As of 2024/11/20

1-Day Change
JPY -4.37 (-0.04%)
 As of 2024/11/20

Morningstar Rating

As of 2024/10/31

Overview

INVESTMENT OBJECTIVE

The Fund aims to provide capital growth over the long term.

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The Fund invests at least two-thirds of its assets in a concentrated portfolio of shares (equities) and equity-related securities of small capitalisation companies, in any industry, in Japan or derive a significant portion of their revenues from Japan.

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Note: You should not make investment decisions based solely on marketing materials. You should read the Prospectus and the Product Highlights Sheet of the Fund for more details of the investment risks and seek independent professional advice where appropriate.

ABOUT THIS FUND

  • Positioned to benefit from a recovery in Japan’s economy and improving corporate governance to generate long-term capital appreciation
  • High-conviction strategy leveraging more than 40 years’ experience in Japanese equities
  • Invests in the smallest 25% of listed Japanese companies by market capitalisation, which the team believes are set to benefit most from a domestic recovery

Portfolio Management

Yunyoung Lee, CFA
Yunyoung Lee, CFA

Portfolio Manager

Industry since 1992. Joined Firm in 2005.

Performance

Cumulative & Annualised Performance (%)
As of 2024/10/31
A2 JPY (With Sales Charge)* Russell/Nomura Small Cap Japan Small/Mid-Cap Equity - OE A2 JPY (Net)
 
  Cumulative Annualised
1MO 3MO 6MO YTD 1YR 3YR 5YR 10YR Since Inception
2009/09/30
A2 JPY (With Sales Charge)* -6.02 -7.88 -6.69 -4.74 2.30 4.48 7.53 8.81 10.71
Russell/Nomura Small Cap 0.30 -0.91 1.14 12.52 17.48 10.46 9.57 8.74 10.77
Japan Small/Mid-Cap Equity - OE -1.07 -2.53 -0.64 7.59 14.57 4.98 8.26 8.43 9.80
A2 JPY (Net) -1.08 -3.03 -1.78 0.28 7.69 6.28 8.64 9.37 11.09
Past performance is not a guide to future performance. All performance data includes both income and capital gains or losses and reflects the deduction of any ongoing charges or other fund expenses.
*Performance with sales charge assume 5.00% initial sales charge/front-end load (FEL) applied.
© Morningstar 2024. All rights reserved. NAV-NAV, gross income reinvested where applicable.
Fee Information
Initial Charge 5.00%
Annual Charge 1.20%
Ongoing Charge
(As of 2023/06/30) 		1.89%
Performance Fee 10% of the 'Relevant Amount'
Hurdle Rate Russell/Nomura Small Cap Index

Portfolio

Top Holdings (As of 2024/10/31)
% of Fund
JINS 4.92
Park24 4.41
Septeni 4.27
Fujitsu General 3.56
CyberAgent 3.30
Aiful 3.22
Daio Paper 2.93
Central Security Patrols 2.85
Harmonic Drive Systems 2.79
Nihon M&A Center 2.78

Documents

Related Insight

Japanese smaller companies: An active approach key to identify growth catalysts
Sep 13, 2024
Timely & Topical

Japanese smaller companies: An active approach key to identify growth catalysts

Strong performance from Japanese larger companies is setting the scene for small and mid-cap stocks to shine given their potential for relatively higher growth.

6 min read

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