fund
M&G Japan Smaller Companies I
Specialist fund. Small size. Run from Tokyo through Prudential's operations.
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2650.70p
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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2999.88p
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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1.00% 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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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).
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0.96%
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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2.00%
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…
Fund summary
| Sector | Japanese Smaller Companies |
| Structure | OEIC |
| Launched | August, 2012 |
| Size | £71m |
| Yield | 2.00% |
| Charging basis | |
| Dividends paid | Oct |
Charges
| Standard initial charge | 1.00% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 0.75% |
| Ongoing charges figure | 0.96% |
Allocation
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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
- 16/17 0.64%
- 17/18 0.16%
- 18/19 -0.62%
- 19/20 -8.41%
- 20/21 -0.51%
Bestinvest MRI
- 3 years -3.18%
- 5 years -1.75%
- Career -0.85%
- 3 years 13.40%
- 5 years 16.10%
- Career 17.40%
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 10.7 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.85%. 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.
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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% |