AXA Framlington Japan Fund Z INC

Japanese Equities

Rated Fund 2017-2018. Takes advantage of long-term growth trends

This fund can invest in Japanese companies of any size but has a bias towards smaller companies, where almost 40 per cent of assets were invested at the end of 2017. It has been managed since 2010 by Chisako Hardie, who was born and educated in Japan but has been living in the UK for most of her adult life.

During her investment career of more than 20 years, Hardie has focused mainly on small company stocks. The investment process she uses for this fund includes the consideration of macroeconomic factors in order to identify long-term growth trends, combined with research into individual companies to find those that she believes can deliver the best returns.

The themes that Hardie has been targeting in recent times include market share expansion in a mature market, strong growth in emerging economies, automation and robots, electronisation of automobiles, and an ageing population.

In seeking to find individual companies to exploit these trends, she undertakes a rigorous examination of their financial and management strengths and she is also able to draw on the knowledge of Axa Framlington's global sector specialists. Smaller Japanese companies are not very well-researched, so company meetings, visits and industry contacts are also central to validating her strategy.

The portfolio typically holds 60 to 100 stocks and has a low turnover. Stocks will be sold if the company appears overvalued, if Hardie has lost faith in the management, or if she identifies a better opportunity.

Narrative and ratings content all as of 01 January 2018.

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Name
AXA Framlington Japan Fund Z INC
Manager
AXA Investment Managers UK Ltd
Type
Unit Trust
ISIN
GB00BRJZVR88
Sector
Japan
Launched
19/01/2015
OCF
0.88 %
Risk Rating
2
3 Year Sharpe
1.44
3 Year Alpha
5.65
Yield
0.4 %
Benchmark
FTSE Japan TR GBP
The fund seeks to achieve maximum capital growth through investment principally in Japan, but also in other areas of the Far East. Investment is made in companies which, in the Manager's opinion, show above average profitability, management quality and growth.
Holding %
SBI Holdings Inc 1.41 %
Yamaha Corp 1.37 %
SoftBank Group Corp 1.37 %
Sony Corp 1.34 %
OUTSOURCING Inc 1.33 %
Wacom Co Ltd 1.27 %
Showa Denko KK 1.22 %
Asahi Intecc Co Ltd 1.17 %
Shimizu Corp 1.17 %
Sompo Holdings Inc 1.16 %
Region %
Japan 100.00 %
Sector %
Technology 27.30 %
Industrials 22.47 %
Healthcare 12.59 %
Consumer Cyclical 10.68 %
Basic materials 7.55 %
Financial Services 7.35 %
Consumer Defensive 6.53 %
Name
AXA Investment Managers UK Ltd
Address
EC1A 7NX, London, United Kingdom
UCITS
Yes
Legal Structure
Unit Trust

Managers

Chisako Hardie
Joined 04/16/2010

Chisako joined Scottish Widows Investment Partnership in September 2000 as an Investment Director within Japanese Equities. She has gained over ten years experience through roles within Japanese Equities with employers including Martin Currie Investment Management Ltd (1996-2000), Scottish Life Assurance Company (1994-1996) and Scottish Provident (1991-1994). Chisako holds a BA in Sociology from Keio University, Tokyo and is a Chartered Member of Securities Analysts Association of Japan. Chisako holds a BA in Sociology from Keio University,Tokyo, and is also a Chartered Member of the Securities Analysts Association of Japan.

Data provided by Morningstar.

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