M&G Japan Smaller Companies A

Specialist fund. Small size. Run from Tokyo through Prudential's operations.

  • 451.01p
    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.

  • 517.61p
    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?

  • 4.00% 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!

  • 1.50%
    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).

  • 1.71%
    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.

  • 2.40%
    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…

Prices as at 30 October 2020

Fund summary

Sector Japanese Smaller Companies
Structure OEIC
Launched May, 1984
Size £66m
Yield 2.40%
Charging basis
Dividends paid 31 Oct

Charges

Standard initial charge 4.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.71%

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Investment process

The fund aims for long term capital growth by investing mainly in a portfolio of smaller Japanese companies. Some medium sized and larger companies are also used to enhance liquidity.

Manager research

Average monthly relative returns

  • 15/16 -0.08%
  • 16/17 0.72%
  • 17/18 -0.44%
  • 18/19 -8.51%
  • 19/20 -0.69%

Bestinvest MRI

  • 3 years -3.21%
  • 5 years -1.80%
  • Career -0.88%
  • 3 years 13.10%
  • 5 years 15.40%
  • Career 16.90%

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

Johan Du Preez

Du Preez joined M&G in September 2015. He started his investment career in 1998 with Prudential Portfolio Managers South Africa, before transferring to Prudential Asset Management Hong Kong in 2006. He previously worked as an actuarial consultant. Du Preez graduated in 1992 from University of Witwatersrand, Johannesburg with a BSc (Econ) in mathematical statistics and actuarial science. He also holds a masters degree in economics from Cape Town University. He is a member of the Institute of Actuaries and the Association for Investment Management and Research. He was awarded the CFA in 2000.

Track record

Johan Du Preez has 10.4 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.88%. 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 31%.

Periods of worst performance

Absolute -31.00% (June 2006 - February 2009)
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.

Allocation

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Top 10 holdings

Data accurate as at 31 July 2020

4.2% Hitachi Zosen Corp
4% Fuji Electric Co Ltd
3.8% Nippon Thompson Co
3.7% Nomura Real Estate Holdings Inc
3.5% Sparx Group Co Ltd
3.5% Fujimi Inc
3.4% Credit Saison Co
3.3% Noritsu Koki
3.1% Kintetsu World Express
2.9% Haseko Corp
Source: Trustnet

Sector breakdown

Industrials 43.00%
Financials 16.00%
Consumer Goods 13.00%
Consumer Services 11.00%
Basic Materials 8.00%
Technology 7.00%
Health Care 1.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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