Factsheet: LF Morant Wright Nippon Yield B Acc
Rated Fund 2013-2018. Taps into growing Japanese dividend culture
LF Morant Wright Nippon Yield made it into the Money Observer awards roll of honour for the first time in 2017, taking the Highly Commended Japan fund gong. This is one of the few Japan funds with an income orientation. At just over 2 per cent, it has one of the highest yields in the sector. It pays income half-yearly.
We also like the fund group's pure focus on investing in Japan. The fund's six-strong team, led by company founders Stephen Morant and Ian Wright, say they are value investors. When choosing their investments, of which there are around 70 in the portfolio, they start by looking at the company balance sheet, searching for companies with the potential to grow over the long term without undue risk. But although income and income growth over the long term are the managers' primary objectives, capital protection is also a cornerstone of the approach.
The managers regularly meet Japanese companies, and have commented on the welcome improvement in corporate governance. They noted recently that interest from private equity investors is helping to highlight the value in Japanese companies. Importantly from their perspective, the trend towards increased dividends and share buybacks seems to be continuing in Japan and as a result they are optimistic about the outlook for the fund.
Narrative and ratings content all as of 01 January 2018.See all Money Observer rated funds
|FUJI Media Holdings Inc||2.89 %|
|Mitsubishi UFJ Financial Group Inc||2.80 %|
|Sumitomo Mitsui Financial Group Inc||2.74 %|
|Sumitomo Mitsui Trust Holdings Inc||2.69 %|
|Tokio Marine Holdings Inc||2.57 %|
|Sumitomo Electric Industries Ltd||2.52 %|
|Tokai Rika Co Ltd||2.43 %|
|MS&AD Insurance Group Holdings Inc||2.40 %|
|Toyota Motor Corp||2.37 %|
|Honda Motor Co Ltd||2.36 %|
|Consumer Cyclical||34.41 %|
|Financial Services||20.53 %|
|Basic materials||9.31 %|
Clough joined Schroders in 1983 as a senior analyst researching Japanese companies and the economy, and began managing the Schroder Tokyo Fund in 1985. In 1987 Clough was seconded to Schroders in Japan and returned to London at the end of 1989. Clough now manages Japanese equity portfolios for institutional funds. Clough is a Director of SIM International.
Millward is fund manager at Morant Wright Management Limited . He joined the firm in March 2009.Mr. Millward is a C.F.A. charter holder. He holds an honours degree in Economics and Management from University of Oxford.
Stephen Morant jointly founded Morant Wright Management in 1999. Previously he was a partner of Cazenove & Co. with overall responsibility for Japanese business. He joined Cazenove & Co. in 1978, becoming a partner in 1982. Between 1978 and 1984 he managed the Hong Kong office, which covered Asia generally, and returned to London in 1984 to concentrate on Japan. Previously he worked as an accountant in both industry and private practice. He is a Fellow of the Institute of Chartered Accountants in England and Wales, and a Member of the Securities Institute.
Data provided by Morningstar.
The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Money Observer and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.
This information is sourced from our partner Morningstar. We believe the data to be correct however you should take care in using any information.
You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.