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The fund is managed with the aim of providing long term capital appreciation from a portfolio primarily composed of Japanese equities.
The portfolio will usually have a bias towards medium sized and smaller companies and is described by Fidelity as their more aggressive fund investing in Japan.
The manager does not invest on an industry or sector basis, but analyses a company in its own right. Companies selected are usually leaders in their industry (often with a niche), who manage their business with the interest of shareholders in mind. Attractive long term growth prospects and solid management are prerequisites.