Fidelity Japan W

Large cap stock picking fund supported by a well resourced Tokyo team.

  • 543.90p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.75%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 0.98%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.80%

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 27 January 2022, we don’t currently provide commentary on this fund.

The fund aims to outperform the Japanese stockmarket - the TOPIX index (largest companies listed on the Tokyo Stock Exchange) and therefore generally invests in large Japanese companies. To achieve this it follows the house philosophy in that all stocks are selected on the basis of in depth analysis at the company level, however, the manager is also aware of the global economic climate and how this might affect certain sectors or industries. The fund also benefits from a large team of analysts based in Tokyo.

Fund summary

Sector Japan
Structure OEIC
Launched October, 2012
Size £102m
Yield 0.80%
Charging basis Income
Dividends paid Acc units only


Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.98%


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Investment process

Manager research

Average monthly relative returns

  • 17/18 0.00%
  • 18/19 -0.34%
  • 19/20 -7.90%
  • 20/21 0.85%
  • 21/22 0.53%

Bestinvest MRI

  • 3 years -2.18%
  • 5 years 0.00%
  • Career -1.63%
  • 3 years 23.00%
  • 5 years 0.00%
  • Career 22.10%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Takuya Furuta

Furuta joined Fidelity in 2008. He has been a Portfolio Manager since November 2015 for Japanese Equities. Prior to this role he was an Analyst in the Japanese Equity Research team. Before joining Fidelity he was a Systems Engineer at NTT Data from 2000-2006. He graduated from University of Tokyo, Japan and also received MBA from The Wharton School, University of Pennsylvania, USA.

Track record

Takuya Furuta has 4.2 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -1.63%. During the worst period of relative performance (from January 2018 - February 2019) there was a decline of 100% relative to the index. The worst absolute loss has been 14%.

Periods of worst performance

Absolute -14.00% (September 2018 - December 2018)
Relative -100.00% (January 2018 - February 2019)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.


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Top 10 holdings

Data accurate as at 31 December 2021

4.9701% Hitachi
4.856% Sony Group Corp
4.4081% Denso Corp
4.2993% Seven & I Holdings Co Ltd
3.571% Sumitomo Mitsui Financial Group Inc
3.4245% Toyota Motor Corp
3.3272% Mitsubishi Electric Corp
3.0955% Sompo Hldgs Inc
2.9466% Astellas Pharma Inc
2.9281% Sumitomo Electric Industries
Source: Trustnet

Sector breakdown

Electronic & Electrical Equipment 23.00%
Others 23.00%
Transport Equipment 9.00%
Insurance 7.00%
Pharmaceuticals 6.00%
Transport 6.00%
Retail 5.00%
Money Market 5.00%
Chemicals 5.00%
Construction 4.00%


There are no specific restrictions on the relative sector weights or the individual stock holdings.

Key Investor Information