fund
LF Morant Wright Japan B
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370.64p
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.
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416.63p
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?
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5.00% 0.00%
Initial chargeSome 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!
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1.00%
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).
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1.17%
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.
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1.70%
Yield
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…
This fund aims to produce a capital return in excess of the TOPIX benchmark through investment in Japanese equities. Morant Wright adopts a cautious, value orientated approach to investing, favouring quality companies with a bias toward mid and small cap stocks. The team therefore place great emphasis on stockpicking and undertake rigorous financial statement analysis.
Fund summary
| Sector | Japan |
| Structure | OEIC |
| Launched | |
| Size | £345m |
| Yield | 1.70% |
| Charging basis | Income |
| Dividends paid | 30 Jun |
Charges
| Standard initial charge | 5.00% |
| Initial charge via Bestinvest | 0.00% |
| Annual management charge | 1.00% |
| Ongoing charges figure | 1.17% |
Allocation
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Investment process
The managers focus on small and mid cap companies where they believe there are greater valuation anomalies. The team's investment process places an emphasis on balance sheet analysis and they aim to create a portfolio that offers some degree of downside protection in falling markets. Valuation metrics that best describe their investment style include low enterprise value to earnings (EBIT) multiples and price to book ratios. They are less driven by earnings growth potential and this portfolio will typically have a lower valuation than the market. In some cases the team will also look for companies with asset backing where they feel that this is appropriate. Morant Wright is a Japanese equity boutique, established in 1999 and based in London.
Morant Wright is a Japanese equity boutique, established in 1999 and based in London. Ian Morant and Stephen Wright are very experienced managers with a consistent and long track record, and have built up a strong team around them. The fund typically has a relatively low volatility and the managers tends to generate most of their outperformance in weak markets. The managers each have significant experience investing in Japan having worked with many of the UK based Japanese fund managers.
Manager research
Average monthly relative returns
- 16/17 0.00%
- 17/18 0.00%
- 18/19 0.00%
- 19/20 0.00%
- 20/21 0.00%
Bestinvest MRI
- 3 years 0.00%
- 5 years 0.00%
- Career 0.00%
- 3 years 0.00%
- 5 years 0.00%
- Career 0.00%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Track record
Periods of worst performance
| Absolute | 0.00% () |
| Relative | 0.00% () |
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.
Allocation
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Sector breakdown
| Building & Construction | 17.00% |
| Transport Equipment | 16.00% |
| Banks | 11.00% |
| Trade | 9.00% |
| Others | 9.00% |
| Financials | 9.00% |
| Basic Materials | 8.00% |
| Transport | 5.00% |
| Electronic & Electrical Equipment | 5.00% |
| Other Metals | 4.00% |
Portfolio
The portfolio will usually be fully invested. The management team can raise cash levels if there are insufficient investment opportunities. Normal position sizes will be between 1% and 3%.