Japanese Equity Fund
Share Class :
 
ISIN: LU0512094433
Japanese Equity Fund
ISIN: LU0512094433
Share Class :

Japanese Equity Fund

SHARE CLASS :
ISIN: LU0512094433
 
 
 
 
Investment Objective
Long term growth of your investment.
Investment Approach
Seeks long-term capital appreciation measured in Japanese yen, by investing primarily in the equity securities of companies domiciled in or exercising the predominant part of their economic activity in Japan and which are listed on any exchanges or over-the-counter markets.
 
57
Number of holdings
Jun '10
Share Class Launch Date
6.38
Tracking error (3 yr) (%)
 
 
Pricing & Performance

Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations. All performance data is calculated NAV to NAV, net of fees, and does not take account of commissions and costs incurred on the issue and redemption of units. The sources for all performance and Index data is Morgan Stanley Investment Management. Please click here for additional performance disclosures and important information, which should be reviewed carefully.

Calculations are based on the close of business NAV which is valued at the close of the Tokyo Stock Exchange (15.00 JST). This NAV may differ from the official NAV of the fund which is calculated during the Luxembourg business day. All subscriptions and redemptions will be dealt at the official NAV.

As of 31-Dec-2017

As of 19-Jan-2018


Performance of 100 JPY invested
Performance of 100 JPY invested

    
Past performance is not a reliable indicator of future results.
 
 
Average Annual Total Returns As of 31-Dec-2017 As of 31-Dec-2017
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class Z JPY (%) 20.43 8.88 15.27 -- 9.89
MSCI Japan Index (%) 19.75 9.33 17.20 -- 11.48
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class Z JPY (%) 20.43 8.88 15.27 -- 9.89
MSCI Japan Index (%) 19.75 9.33 17.20 -- 11.48
2011 2012 2013 2014 2015 2016 2017
Share Class Z JPY (%) -19.73 20.13 52.45 3.43 8.88 -1.56 20.43
MSCI Japan Index (%) -18.73 21.57 54.58 9.48 9.93 -0.74 19.75
2013 2014 2015 2016 2017
Share Class Z JPY (%) 52.45 3.43 8.88 -1.56 20.43
MSCI Japan Index (%) 54.58 9.48 9.93 -0.74 19.75
 
Average Annual Total Returns
TIMEFRAME Share Class Z JPY (%) MSCI Japan Index (%)
1 Yr 20.43 19.75
3 Yrs 8.88 9.33
5 Yrs 15.27 17.20
10 Yrs -- --
Since Inception 9.89 11.48
TIMEFRAME Share Class Z JPY (%) MSCI Japan Index (%)
1 Yr 20.43 19.75
3 Yrs 8.88 9.33
5 Yrs 15.27 17.20
10 Yrs -- --
Since Inception 9.89 11.48
TIMEFRAME Share Class Z JPY (%) MSCI Japan Index (%)
2011 -19.73 -18.73
2012 20.13 21.57
2013 52.45 54.58
2014 3.43 9.48
2015 8.88 9.93
2016 -1.56 -0.74
2017 20.43 19.75
TIMEFRAME Share Class Z JPY (%) MSCI Japan Index (%)
2013 52.45 54.58
2014 3.43 9.48
2015 8.88 9.93
2016 -1.56 -0.74
2017 20.43 19.75
Past performance is not a reliable indicator of future results.
 
 
Risk/Return StatisticsAs of 31-Dec-2017

TIMEFRAME:
    Share Class Z Index
Alpha (%) -0.45 --
Beta 1.08 1.00
Information ratio -0.07 --
R squared 0.89 1.00
Tracking error (%) 6.38 --
Volatility (Standard deviation) (%) 18.83 16.42
Past performance is not a reliable indicator of future results.
 
 
 
Risk and Reward Profile As of 20-Apr-2017
 
 
Lower Risk
High Risk
Potentially
Lower Rewards
Potentially
Higher Rewards
 
The risk and reward category shown is based on historic data.
  • Historic figures are only a guide and may not be a reliable indicator of what may happen in the future.
  • As such this category may change in the future.
  • The higher the category, the greater the potential reward, but also the greater the risk of losing the investment. Category 1 does not indicate a risk free investment.
  • The fund is in this category because it invests in company shares and the fund's simulated and/or realised return has experienced high rises and falls historically.
  • The fund may be impacted by movements in the exchange rates between the fund's currency and the currencies of the fund's investments.
This rating does not take into account other risk factors which should be considered before investing, these include:
  • The fund relies on other parties to fulfill certain services, investments or transactions. If these parties become insolvent, it may expose the fund to financial loss.
  • There may be an insufficient number of buyers or sellers which may affect the funds ability to buy or sell securities.
  • Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations. The value of investments and the income from them can go down as well as up and investors may lose all or a substantial portion of his or her investment.
  • The value of the investments and the income from them will vary and there can be no assurance that the Fund will achieve its investment objectives.
  • Investments may be in a variety of currencies and therefore changes in rates of exchange between currencies may cause the value of investments to decrease or increase. Furthermore, the value of investments may be adversely affected by fluctuations in exchange rates between the investor’s reference currency and the base currency of the investments.
The risk and reward category shown is based on historic data.
  • Historic figures are only a guide and may not be a reliable indicator of what may happen in the future.
  • As such this category may change in the future.
  • The higher the category, the greater the potential reward, but also the greater the risk of losing the investment. Category 1 does not indicate a risk free investment.
  • The fund is in this category because it invests in company shares and the fund's simulated and/or realised return has experienced high rises and falls historically.
  • The fund may be impacted by movements in the exchange rates between the fund's currency and the currencies of the fund's investments.
This rating does not take into account other risk factors which should be considered before investing, these include:
  • The fund relies on other parties to fulfill certain services, investments or transactions. If these parties become insolvent, it may expose the fund to financial loss.
  • There may be an insufficient number of buyers or sellers which may affect the funds ability to buy or sell securities.
  • Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations. The value of investments and the income from them can go down as well as up and investors may lose all or a substantial portion of his or her investment.
  • The value of the investments and the income from them will vary and there can be no assurance that the Fund will achieve its investment objectives.
  • Investments may be in a variety of currencies and therefore changes in rates of exchange between currencies may cause the value of investments to decrease or increase. Furthermore, the value of investments may be adversely affected by fluctuations in exchange rates between the investor’s reference currency and the base currency of the investments.
 
 
 
 
Composition 4 As of 31-Dec-2017
  Fund Index
Trading Companies & Distributors 15.26 4.04
Banks 14.43 7.50
Metals & Mining 10.43 1.52
Automobiles 8.82 8.84
Insurance 7.24 3.12
Road & Rail 4.60 3.77
Household Durables 4.55 3.56
Construction & Engineering 3.35 1.01
Diversified Financial Services 3.30 0.69
Other 26.49 --
Cash & equivalents 1.51 --
Total 100.00 --


Holdings As of 31-Dec-2017
Fund Index
Toyota Motor Corp 4.91 4.62
Itochu Corp 4.68 0.77
Sumitomo Metal Mining Co. Ltd 4.59 0.31
Sumitomo Mitsui Financial Group 4.49 1.60
Mitsubishi Ufj Financial Group 4.19 2.42
Orix Corp 3.30 0.62
Nippon Steel Sumitomo Metal 2.99 0.54
Nippon Telegraph & Telephone Corp 2.98 0.90
Sumitomo Corp 2.93 0.56
Mitsubishi Corp 2.88 1.15
Total 37.94 --

These securities and percentage allocations are only for illustrative purposes and do not constitute, and should not be construed as, investment advice or recommendations with respect to the securities or investments mentioned.



Portfolio Characteristics As of 31-Dec-2017
Fund Index
Number of holdings 57 321
Price/cash flow 3.81 4.88
Price/book 1.06 1.46
 
 
Portfolio Manager
CMA, Mitsubishi UFJ Asset Management Co., Ltd.
17 years industry experience
Team members may be subject to change at any time without notice.
 
 
 
 

Please visit our Glossary page for fund related terms and definitions.

Performance data quoted is based on average annualized returns and net of fees.

The source for all performance and index data is Morgan Stanley Investment Management Limited.

Past performance is not indicative of future results. The value of the investments and the income from them can go down as well as up and an investor may not get back the amount invested. Returns may increase or decrease as a result of currency fluctuations. Performance data for funds with less than one year's track record is not shown. Performance is calculated net of fees. YTD performance data is not annualised. Performance of other share classes, when offered, may differ. Please consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and key investor information document (KIID) contains this and other information about the fund. Please read the prospectus and KIID carefully before you invest.

1 The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account sales loads.

The Europe/Asia and South Africa category (EAA) includes funds domiciled in European markets, major cross-border Asian markets where material numbers of European UCITS funds are available (principally Hong Kong, Singapore and Taiwan), South Africa, and selected other Asian and African markets where Morningstar believes it is of benefit to investors for the funds to be included in the EAA classification system.

© 2018 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

2 The MSCI Japan Index is a free-floated adjusted market capitalization weighted index that is designed to track the equity market performance of Japanese securities listed on the Tokyo Stock Exchange, Osaka Stock Exchange, JASDAQ and Nagoya Stock Exchange. The MSCI Japan Index is constructed based on the MSCI Global Investable Market Indices Methodology, targeting a free-float market capitalization coverage of 85%.

Entry Charge is a maximum possible figure. In some cases you might pay less, you can find this out from your financial adviser. Ongoing Charges reflect the payments and expenses incurred during the fund's operation and are deducted from the assets of the fund over the period. It includes fees paid for investment management (Management Fee), trustee/custodian, and administration charges. The Minimum Initial Investment/Minimum Subsequent Investment amounts may be in US Dollars (or the Euro Yen or Sterling equivalent of the US Dollar amount). For more information please see the Charges and Expenses section of the prospectus.

4 May not sum to 100% due to rounding. For additional information regarding sector classification/definitions please visit https://www.msci.com/gicsCash & Equivalents are defined as the value of assets that can be converted into cash immediately. These include commercial paper, open FX transactions, Treasury bills and other short-term instruments.  Such instruments are considered cash equivalents because they are deemed liquid and not subject to significant risk of changes in values.

Mitsubishi UFJ Asset Management (UK) Ltd started to manage the fund in July 2014.

 
 

WAM is the weighted average maturity of the portfolio. The WAM calculation utilizes the interest-rate reset date, rather than a security's stated final maturity, for variable- and floating- rate securities. By looking to a portfolio's interest rate reset schedule in lieu of final maturity dates, the WAM measure effectively captures a fund's exposure to interest rate movements and the potential price impact resulting from interest rate movements.

 

WAL is the weighted average life of the portfolio. The WAL calculation utilizes a security's stated final maturity date or, when relevant, the date of the next demand feature when the fund may receive payment of principal and interest (such as a put feature). Accordingly, WAL reflects how a portfolio would react to deteriorating credit (widening spreads) or tightening liquidity conditions.

 

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