M&G Japan Smaller Companies Class I GBP Inc
Report And Accounts
Simplified Prospectus / KIID
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 | -7.9% | 49.8% | -1.9% | 19.4% | 11.6% |
| Sector | -0.1% | 21.5% | -6.8% | 4.8% | 14.4% |
| Rank | 81/93 | 2/93 | 23/98 | 2/101 | 75/102 |
| Quartile | 4 | 1 | 1 | 1 | 3 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/04/24 |
5 Years to 30/04/24 |
10 Years to 30/04/24 |
||
| Fund | 9.4% | 12.5% | 13.2% | |
| Sector | 3.8% | 6.3% | 9.4% | |
| Rank | 19/98 | 8/93 | 1/68 | |
| Quartile | 1 | 1 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| MITSUBISHI ESTATE CO. | 3.62 |
| TRIAL HOLDINGS INC | 3.44 |
| TOYOTA INDUSTRIES CORP | 2.92 |
| ICHIGO GROUP HOLDINGS CO LTD | 2.83 |
| ORIX CORPORATION | 2.61 |
| ROHM CO. | 2.52 |
| HITACHI ZOSEN CORP | 2.48 |
| SUMITOMO BAKELITE COMPANY LIMITED | 2.43 |
| NITERRA CO LTD | 2.40 |
| USHIO INC | 2.38 |
| Total | 27.62 |
Fund Aims
The Fund aims to provide a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, than that of the Russell/Nomura Mid-Small Cap Index over any five-year period.
Fund Manager
Carl Vine was appointed fund manager of M&G (Lux) Japan Fund and M&G (Lux) Japan Smaller Companies Fund in September 2019 after joining M&G as Co-Head of Asian Investment, with 22 years of investment experience. Carl co-founded Oxford-based Port Meadow Capital Management, a boutique investment firm, in 2014. Prior to that, he worked as a Managing Director and Portfolio Manager for SAC Capital Advisors in Hong Kong and was the Asian-based member of their global investment committee. Before that, Carl was a Managing Director at UBS in Hong Kong, where he invested proprietary capital across Asia and Japan, and a Principal for TPG-Axon Capital. He began his career with Prudential Portfolio Managers in London, before relocating to Tokyo to open Prudential’s Japan office. Carl holds a Bachelor of Arts (Hons) in Politics, Philosophy & Economics from Oxford University.
Fund Overview
| Mid (01/05/2024) | 3799.71p |
| Historic yield | 1.84% |
| Fund size (31/03/2024) | 231.38¥m |
| Number of holdings | 57 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.70% |
| Launch date | 15/05/1984 |
Asset Allocation
| International Equities | 97.77% | |
| Cash and Equivalents | 2.23% |
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 client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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.
Asset Allocation
| International Equities | 97.77% | |
| Cash and Equivalents | 2.23% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Industrials | 30.55% | - | - | - | |
| Industrial Goods & Services | - | 30.55% | - | - | |
| Industrial Engineering | - | - | 9.79% | - | |
| Machinery: Industrial | - | - | - | 9.79% | |
| Industrial Support Services | - | - | 8.82% | - | |
| Business Training & Employment Agencies | - | - | - | 4.12% | |
| Transaction Processing Services | - | - | - | 2.37% | |
| Security Services | - | - | - | 1.66% | |
| Industrial Suppliers | - | - | - | 0.68% | |
| Electronic & Electrical Equipment | - | - | 7.03% | - | |
| Electrical Components | - | - | - | 4.51% | |
| Electronic Equipment: Pollution Control | - | - | - | 1.47% | |
| Electronic Equipment: Gauges & Meters | - | - | - | 1.05% | |
| Industrial Transportation | - | - | 2.47% | - | |
| Railroads | - | - | - | 1.39% | |
| Transportation Services | - | - | - | 0.95% | |
| Trucking | - | - | - | 0.13% | |
| General Industrials | - | - | 2.43% | - | |
| Plastics | - | - | - | 2.43% | |
| Consumer Discretionary | 28.03% | - | - | - | |
| Consumer Products & Services | - | 15.58% | - | - | |
| Leisure Goods | - | - | 12.14% | - | |
| Consumer Electronics | - | - | - | 3.92% | |
| Toys | - | - | - | 2.36% | |
| Recreational Vehicles & Boats | - | - | - | 2.19% | |
| Photography | - | - | - | 2.02% | |
| Recreational Products | - | - | - | 1.65% | |
| Household Goods & Home Construction | - | - | 2.06% | - | |
| Home Construction | - | - | - | 2.06% | |
| Personal Goods | - | - | 1.38% | - | |
| Cosmetics | - | - | - | 1.38% | |
| Automobiles & Parts | - | 10.50% | - | - | |
| Automobiles & Parts | - | - | 10.50% | - | |
| Auto Parts | - | - | - | 8.90% | |
| Automobiles | - | - | - | 1.61% | |
| Travel & Leisure | - | 1.95% | - | - | |
| Travel & Leisure | - | - | 1.95% | - | |
| Airlines | - | - | - | 1.95% | |
| Technology | 11.03% | - | - | - | |
| Technology | - | 11.03% | - | - | |
| Technology Hardware & Equipment | - | - | 9.29% | - | |
| Semiconductors | - | - | - | 4.55% | |
| Computer Hardware | - | - | - | 1.93% | |
| Electronic Components | - | - | - | 1.42% | |
| Production Technology Equipment | - | - | - | 1.39% | |
| Software & Computer Services | - | - | 1.74% | - | |
| Computer Services | - | - | - | 1.74% | |
| Real Estate | 6.45% | - | - | - | |
| Real Estate | - | 6.45% | - | - | |
| Real Estate Investment & Services | - | - | 6.45% | - | |
| Real Estate Holding and Development | - | - | - | 6.45% | |
| Financials | 5.65% | - | - | - | |
| Financial Services | - | 5.65% | - | - | |
| Investment Banking & Brokerage Services | - | - | 5.65% | - | |
| Diversified Financial Services | - | - | - | 2.61% | |
| Asset Managers & Custodians | - | - | - | 1.65% | |
| Investment Services | - | - | - | 1.39% | |
| Non-Classified | 4.79% | - | - | - | |
| Consumer Staples | 4.54% | - | - | - | |
| Food, Beverage & Tobacco | - | 2.33% | - | - | |
| Food Producers | - | - | 2.33% | - | |
| Food Products | - | - | - | 2.33% | |
| Personal Care, Drug & Grocery Stores | - | 2.21% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 2.21% | - | |
| Food Retailers & Wholesalers | - | - | - | 1.55% | |
| Nondurable Household Products | - | - | - | 0.66% | |
| Basic Materials | 3.95% | - | - | - | |
| Chemicals | - | 3.95% | - | - | |
| Chemicals | - | - | 3.95% | - | |
| Chemicals: Diversified | - | - | - | 2.30% | |
| Chemicals & Synthetic Fibers | - | - | - | 1.65% | |
| Health Care | 2.77% | - | - | - | |
| Health Care | - | 2.77% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 1.57% | - | |
| Biotechnology | - | - | - | 1.57% | |
| Medical Equipment & Services | - | - | 1.20% | - | |
| Medical Services | - | - | - | 1.20% | |
| Cash and Equivalents | 2.23% | - | - | - | |
Regional Allocation
| Japan | 97.24% | |
| Cash and Equivalents | 2.23% | |
| Developed Asia | 0.41% | |
| Middle East & Africa | 0.12% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Japan | 97.24% | - | |
Japan
|
- | 97.24% | |
| Cash and Equivalents | 2.23% | - | |
| Developed Asia | 0.41% | - | |
Singapore
|
- | 0.41% | |
| Middle East & Africa | 0.12% | - | |
Israel
|
- | 0.12% | |
Breakdown By Market Cap (%)
| Mega |
|
4.46% |
| Large |
|
19.51% |
| Medium |
|
24.48% |
| Small |
|
32.96% |
| Micro |
|
4.51% |
| Non-Classified |
|
11.85% |
| Cash |
|
2.23% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | MITSUBISHI ESTATE CO. | 3.62% | Real Estate Investment & Services | Japan |
| 2 | TRIAL HOLDINGS INC | 3.44% | Non-Classified | Japan |
| 3 | TOYOTA INDUSTRIES CORP | 2.92% | Automobiles & Parts | Japan |
| 4 | ICHIGO GROUP HOLDINGS CO LTD | 2.83% | Real Estate Investment & Services | Japan |
| 5 | ORIX CORPORATION | 2.61% | Investment Banking & Brokerage Services | Japan |
| 6 | ROHM CO. | 2.52% | Technology Hardware & Equipment | Japan |
| 7 | HITACHI ZOSEN CORP | 2.48% | Industrial Engineering | Japan |
| 8 | SUMITOMO BAKELITE COMPANY LIMITED | 2.43% | General Industrials | Japan |
| 9 | NITERRA CO LTD | 2.40% | Automobiles & Parts | Japan |
| 10 | USHIO INC | 2.38% | Electronic & Electrical Equipment | Japan |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 11.03% | - | - | - | - | - | - | 11.03% |
| Financials | - | 5.65% | - | - | - | - | - | - | 5.65% |
| Real Estate | - | 6.45% | - | - | - | - | - | - | 6.45% |
| Consumer Discretionary | - | 28.03% | - | - | - | - | - | - | 28.03% |
| Consumer Staples | - | 4.54% | - | - | - | - | - | - | 4.54% |
| Health Care | - | 2.77% | - | - | - | - | - | - | 2.77% |
| Industrials | - | 30.55% | - | - | - | - | - | - | 30.55% |
| Basic Materials | - | 3.95% | - | - | - | - | - | - | 3.95% |
| Cash and Equivalents | - | - | - | - | - | - | - | 2.23% | 2.23% |
| Non-Classified | - | 4.79% | - | - | - | - | - | - | 4.79% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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 | B62S8P4 |
| Mex Code | - |
| Isin Code | GB00B62S8P46 |
| Citi Code | 0ZEZ |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.70% |
Aims and Benchmark
| Aims | The Fund aims to provide a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, than that of the Russell/Nomura Mid-Small Cap Index over any five-year period. |
| Benchmark | Russell/Nomura Mid-Small Cap Index |
| Benchmark Category | Target |
| IA Sector | Japanese Smaller Companies |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | OEIC |
| Launch price | 0.50¥ |
| 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 |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | The National Westminster Bank plc |
| Fund Administrator | IFDS |
| Fund Registrar | IFDS |
| Fund Custodian | State Street Bank and Trust Company |
Group Details
| Group name | M&G Investments |
| Group address | 10 Fenchurch Avenue London EC3M 5AG United Kingdom |
| Group telephone | 0800 390 390 |
| Dealing telephone | 0800 328 3196 |
| info@mandg.co.uk | |
| Homepage | www.mandg.co.uk |
| Fax number | - |
Dealing
| Minimum Investment | - |
| Minimum Top Up | - |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 3 days |
| Settlement Period: Sell | 3 days |
| Pricing Basis | Forward |
| Dealing Decimals | 3 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 5.47 |
| Beta | 0.94 |
| Sharpe | 0.52 |
| Standard Deviation | 11.34 |
| Info Ratio | 1.12 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | Yes |
| Smaller Companies | Yes |
| High Yield Bonds | No |
| Sector Specific | Yes |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | Yes |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | Yes |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Concentrated Portfolio
The fund may invest in a relatively smaller number of stocks. This stock concentration may carry more risk than funds spread across a larger number of companies.
Smaller Companies
The fund invests in smaller companies. Smaller companies shares can be more volatile and less liquid than larger company shares, so smaller companies funds can carry more risk.
Sector Specific
The fund invests in specific sectors. Funds which invest in specific sectors may carry more risk than those spread across a number of different sectors. They may assume higher risk, as markets/sectors can be more volatile. In particular, gold, technology funds and other focused funds can suffer as the underlying stocks can be more volatile and less liquid.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Umbrella Liabilities
If the liabilities of one fund were to exceed its assets, the other funds within the scheme might have to transfer across money to cover the liabilities.
Liquidity
This fund can suffer from partial or total illiquidity, which may lead to considerable price fluctuations and the inability to redeem your investment.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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 client’s investment can go down as well as up and the amount your client gets back may be less than they put in. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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.