Invesco ICVC Responsible Japanese Equity Value Discovery Fund (UK) Class Z Acc

Essentials Portfolio Analysis Background Data Performance View PDF Factsheet
Portfolio data accurate as at:

Performance

Discrete performance - to last month end

30/04/19
to
30/04/20		 30/04/20
to
30/04/21		 30/04/21
to
30/04/22		 30/04/22
to
30/04/23		 30/04/23
to
30/04/24
Fund -16.3% 20.1% -7.9% 2.9% 13.2%
Sector -0.1% 21.5% -6.8% 4.8% 14.4%
Rank 92/93 56/93 66/98 76/101 72/102
Quartile 4 3 3 3 3

Annualised performance

Annualised
3 Years to
30/04/24		 5 Years to
30/04/24		 10 Years to
30/04/24
Fund 2.4% 1.5% 6.3%
Sector 3.8% 6.3% 9.4%
Rank 64/98 83/93 66/68
Quartile 3 4 4

Top 10 Holdings

Stock % Weight
HITACHI 5.02
MITSUBISHI CORPORATION 4.67
MITSUBISHI UFJ FINANCIAL GROUP 4.39
YAMAHA MOTOR CO. LTD 4.39
DAIWA HOUSE INDUSTRY CO. 3.96
FUJITSU LIMITED 3.75
MURATA MANUFACTURING CO. 3.73
NITTO DENKO CORP 3.67
ORIX CORPORATION 3.62
SUZUKI MOTOR CORP 3.59
Total 40.78

Fund Aims

The Fund aims to achieve long-term (5 years plus) capital growth. The Fund invests at least 80% of its assets in shares or other equity related securities of companies incorporated, domiciled or carrying out the main part of their economic activity in Japan which meet the Fund’s environmental, social and governance (ESG) criteria as further detailed below. The Fund follows the following ESG methodology: 1. Negative ESG screening: The Fund will exclude companies with a certain level of involvement in some sectors, including but not limited to weapons, coal, fossil fuels, tobacco, adult entertainment and gambling, as well as companies not compliant with the UN global compact principles. The current exclusion criteria may be updated from time to time. 2. Positive ESG screening: The Fund will also increase overall exposure to those companies with sufficient practice and standards in terms of ESG and sustainable development, based on the fund manager’s proprietary rating system. In pursuing the Fund’s investment objective, the fund manager may consider it appropriate to also invest in other transferable securities (including non Japanese companies), money-market instruments, collective investment schemes (including funds managed by the Invesco group), deposits and cash. The Fund intends to invest 100% of its assets (excluding cash and cash equivalents) in investments meeting the ESG screening criteria described above. Derivatives use: The Fund may use derivatives for efficient portfolio management purposes only, to reduce risk, reduce costs and/or generate additional capital or income. Such derivatives may not be fully aligned with the Fund’s ESG screening criteria.

Fund Manager

Daiji Ozawa manager for 2 years and 10 months

Photo of Daiji Ozawa Based in Tokyo, Daiji is Chief Portfolio Manager for Japanese Equity Value portfolios. Daiji started his investment career in 1986, gaining fund management experience at a number of firms including Bank of Tokyo, Tokyo-Mitusbishi Asset Management, Citigroup Asset Management, Western Asset Management and most recently Morgan Stanley, where he was Head of Equity Investments. He joined our company in 2010 as a result of Invesco’s acquisition of Morgan Stanley’s retail asset management business. He holds a BA in Political Science from Waseda University, holds the Chartered Financial Analyst® (CFA®) designation and is a member of the Security Analysts Association of Japan.

Fund Overview

Mid (03/05/2024) 516.15p
Historic yield 1.28%
Fund size (31/01/2024) £106.88m
Number of holdings 166
Entry Charge 0.00%
Ongoing Charges 0.75%
Launch date 11/12/2012

Asset Allocation

pie chart
  International Equities 99.80%
  Money Market 0.46%
  UK Corporate Bonds 0.08%
  International Bonds -0.06%
  Cash and Equivalents -0.31%
  Other Assets 0.02%
Portfolio data accurate as at: 31/01/24

Important Information

Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Portfolio data accurate as at:

Asset Allocation

pie chart
  International Equities 99.80%
  Money Market 0.46%
  UK Corporate Bonds 0.08%
  International Bonds -0.06%
  Cash and Equivalents -0.31%
  Other Assets 0.02%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
 Industrials 27.49% - - -
 
 Industrial Goods & Services - 22.32% - -
 
 General Industrials - - 9.69% -
 
 Diversified Industrials - - - 9.69%
 
 Industrial Support Services - - 7.06% -
 
 Business Training & Employment Agencies - - - 3.31%
 
 Security Services - - - 2.41%
 
 Industrial Suppliers - - - 1.33%
 
 Industrial Engineering - - 5.58% -
 
 Machinery: Industrial - - - 3.98%
 
 Machinery: Construction & Handling - - - 1.60%
 
 Construction & Materials - 5.17% - -
 
 Construction & Materials - - 5.17% -
 
 Building Materials: Other - - - 3.00%
 
 Building: Climate Control - - - 2.17%
 
 Consumer Discretionary 27.19% - - -
 
 Consumer Products & Services - 13.70% - -
 
 Household Goods & Home Construction - - 8.09% -
 
 Home Construction - - - 5.45%
 
 Household Equipment & Products - - - 2.64%
 
 Leisure Goods - - 5.61% -
 
 Recreational Vehicles & Boats - - - 4.39%
 
 Consumer Electronics - - - 1.22%
 
 Automobiles & Parts - 9.76% - -
 
 Automobiles & Parts - - 9.76% -
 
 Auto Parts - - - 4.18%
 
 Automobiles - - - 3.59%
 
 Tires - - - 1.99%
 
 Travel & Leisure - 1.97% - -
 
 Travel & Leisure - - 1.97% -
 
 Hotels & Motels - - - 1.97%
 
 Media - 1.75% - -
 
 Media - - 1.75% -
 
 Entertainment - - - 1.75%
 
 Technology 14.60% - - -
 
 Technology - 14.60% - -
 
 Software & Computer Services - - 8.84% -
 
 Computer Services - - - 7.62%
 
 Consumer Digital Services - - - 1.22%
 
 Technology Hardware & Equipment - - 5.77% -
 
 Electronic Components - - - 5.77%
 
 Financials 11.50% - - -
 
 Banks - 4.39% - -
 
 Banks - - 4.39% -
 
 Banks - - - 4.39%
 
 Financial Services - 3.62% - -
 
 Investment Banking & Brokerage Services - - 3.62% -
 
 Diversified Financial Services - - - 3.62%
 
 Insurance - 3.49% - -
 
 Non-life Insurance - - 3.49% -
 
 Property & Casualty Insurance - - - 3.49%
 
 Health Care 8.34% - - -
 
 Health Care - 8.34% - -
 
 Pharmaceuticals & Biotechnology - - 4.80% -
 
 Pharmaceuticals - - - 4.80%
 
 Medical Equipment & Services - - 3.54% -
 
 Medical Equipment - - - 3.54%
 
 Basic Materials 5.67% - - -
 
 Chemicals - 4.17% - -
 
 Chemicals - - 4.17% -
 
 Specialty Chemicals - - - 3.67%
 
 Chemicals & Synthetic Fibers - - - 0.50%
 
 Basic Resources - 1.50% - -
 
 Industrial Metals & Mining - - 1.50% -
 
 Nonferrous Metals - - - 1.50%
 
 Consumer Staples 4.61% - - -
 
 Personal Care, Drug & Grocery Stores - 4.61% - -
 
 Personal Care, Drug & Grocery Stores - - 4.61% -
 
 Personal Products - - - 4.14%
 
 Nondurable Household Products - - - 0.47%
 
 Real Estate 0.40% - - -
 
 Real Estate - 0.40% - -
 
 Real Estate Investment & Services - - 0.40% -
 
 Real Estate Services - - - 0.40%
 
 Cash and Equivalents 0.15% - - -
 
 Bonds 0.03% - - -
 
 Non-Classified 0.02% - - -

Regional Allocation

pie chart
  Japan 99.72%
  Cash and Equivalents 0.15%
  UK 0.08%
  Non-Classified 0.02%
  Australia & New Zealand 0.01%
  North America 0.01%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 99.97%
  Pound Sterling 0.03%

Regional Breakdown

Expand allCollapse all
Region Country
 
 Japan 99.72% -
 
 Japan - 99.72%
 
 Cash and Equivalents 0.15% -
 
 UK 0.08% -
 
 United Kingdom - 0.08%
 
 Non-Classified 0.02% -
 
 Australia & New Zealand 0.01% -
 
 Australia - 0.01%
 
 North America 0.01% -
 
 Canada - 0.01%

Breakdown By Market Cap (%)

Mega
 
 
29.03%
Large
 
 
48.05%
Medium
 
 
22.26%
Small
 
 
0.47%
Non-Classified
 
 
0.02%
Bonds
 
 
0.03%
Cash
 
 
0.15%

Top 10 Holdings

Stock % Weight Sector Country
1 HITACHI 5.02% General Industrials Japan
2 MITSUBISHI CORPORATION 4.67% General Industrials Japan
3 MITSUBISHI UFJ FINANCIAL GROUP 4.39% Banks Japan
4 YAMAHA MOTOR CO. LTD 4.39% Leisure Goods Japan
5 DAIWA HOUSE INDUSTRY CO. 3.96% Household Goods & Home Construction Japan
6 FUJITSU LIMITED 3.75% Software & Computer Services Japan
7 MURATA MANUFACTURING CO. 3.73% Technology Hardware & Equipment Japan
8 NITTO DENKO CORP 3.67% Chemicals Japan
9 ORIX CORPORATION 3.62% Investment Banking & Brokerage Services Japan
10 SUZUKI MOTOR CORP 3.59% Automobiles & Parts Japan

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology - 14.60% - - - - - - 14.60%
Financials - 11.50% - - - - - - 11.50%
Real Estate - 0.40% - - - - - - 0.40%
Consumer Discretionary - 27.19% - - - - - - 27.19%
Consumer Staples - 4.61% - - - - - - 4.61%
Health Care - 8.34% - - - - - - 8.34%
Industrials - 27.49% - - - - - - 27.49%
Basic Materials - 5.67% - - - - - - 5.67%
Cash and Equivalents - - - - - - - -0.31% -0.31%
Bonds - - 0.08% -0.06% - - - - 0.03%
Non-Classified - - - - - - 0.02% 0.46% 0.48%

Important Information

The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Identification Codes

Sedol Code B8N44W4
Mex Code BRGAAR
Isin Code GB00B8N44W47
Citi Code GUVL

Fund Charges

Entry Charge 0.00%
Ongoing Charges 0.75%

Aims and Benchmark

Aims The Fund aims to achieve long-term (5 years plus) capital growth. The Fund invests at least 80% of its assets in shares or other equity related securities of companies incorporated, domiciled or carrying out the main part of their economic activity in Japan which meet the Fund’s environmental, social and governance (ESG) criteria as further detailed below. The Fund follows the following ESG methodology: 1. Negative ESG screening: The Fund will exclude companies with a certain level of involvement in some sectors, including but not limited to weapons, coal, fossil fuels, tobacco, adult entertainment and gambling, as well as companies not compliant with the UN global compact principles. The current exclusion criteria may be updated from time to time. 2. Positive ESG screening: The Fund will also increase overall exposure to those companies with sufficient practice and standards in terms of ESG and sustainable development, based on the fund manager’s proprietary rating system. In pursuing the Fund’s investment objective, the fund manager may consider it appropriate to also invest in other transferable securities (including non Japanese companies), money-market instruments, collective investment schemes (including funds managed by the Invesco group), deposits and cash. The Fund intends to invest 100% of its assets (excluding cash and cash equivalents) in investments meeting the ESG screening criteria described above. Derivatives use: The Fund may use derivatives for efficient portfolio management purposes only, to reduce risk, reduce costs and/or generate additional capital or income. Such derivatives may not be fully aligned with the Fund’s ESG screening criteria.
Benchmark TOPIX Index (Net Total Return)
Benchmark Category -
IA Sector Japan

Fund Background

Valuation frequency Daily
Valuation point 12:00
Fund type ICVC
Launch price £1.00
Fund currency Pound Sterling
Fund domicile United Kingdom
ISA allowable Yes
SIPP allowable Yes

Distribution Details

Income frequency Annually
Distribution Type Dividend
Distribution Payment Basis Net

Ratings

FE Crown Crown Rating of 2

Effect of Deductions

Assuming a growth rate of 6.00% Assuming a growth rate of 7.00%
- -

Fund Administration

Fund Trustee/Depository Citibank
Fund Administrator Internal
Fund Registrar Internal
Fund Custodian The Bank of New York Mellon (International) Limited

Group Details

Group name Invesco ICVC
Group address INVESCO Park Henley-on-Thames Oxfordshire RG9 1HH United Kingdom
Group telephone 0800 028 2121
Dealing telephone 0800 085 8571
Email Sally.Elsbury@Invesco.com
Homepage https://www.invesco.co.uk/uk
Fax number 01491 416000

Dealing

Minimum Investment £500
Minimum Top Up £100
Minimum Regular Saving £20
Settlement Period: Buy 3 days
Settlement Period: Sell 3 days
Pricing Basis Forward
Dealing Decimals 2

Important Information

Ongoing charges may vary in the future and may be higher than they are now. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Important Information

Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.