The Fund aims to generate long-term capital growth by investing primarily in the shares of Japanese companies, or companies that generate a significant amount of their business in Japan. The Fund will apply a stock picking approach, investing in large, medium and small capitalisation companies, with a bias towards medium and small capitalisation ‘value’ stocks.
The Polar Capital Japan Fund seeks to outperform the TOPIX Total Return Index whilst striving to limit the volatility of the returns. The investment approach is research driven; the Fund Manager first analyses strategic macro trends, both in a domestic and a global context, to establish broad sectoral consequences. A stock picking approach is then applied to individual companies, with specific emphasis on both “value” and “growth” characteristics and on comparative opportunities.
- Team of 4 industry and investment specialists
- 55+ years of combined industry experience
- Typically 70‑100 positions
- No benchmark or tracking error constraints
- Fundamentally-driven analysis and stock selection
FE Crown Fund Ratings do not constitute investment advice offered by FE and should not be used as the sole basis for making any investment decision. All rights reserved.
Fund Managers & Analysts
Gerard Cawley, CFA
Chris Smith, CFA
Gerard Cawley, CFA
Gerard joined Polar Capital in January 2005 and is Head of the Polar Capital Japan Team.
He has been manager of the Polar Capital Japan Value Fund, formerly Japan Alpha Fund, since its launch in 2012, and has managed the Polar Capital Japan Fund since 1 June 2019.
Prior to joining Polar Capital, Gerard worked in the Japanese equity team at Schroder Investment Management.
- BA in Business Studies, Dublin City University Business School
- CFA Charterholder
- 19 years
Chris Smith, CFA
Chris Smith is co-manager of the Japan and Japan Value funds. He joined Polar Capital in January 2012 as a Japanese equity analyst, prior to which he gained five years’ experience working in accountancy.
He holds a BSc (1st Class Hons) in applied accounting and is a chartered certified accountant and a CFA charter holder.
- BSc (1st Class Hons) in Applied Accounting
- Chartered Certified Accountant and a CFA Charterholder
- 7 years
Masahiko joined Polar Capital in December 2006 from Schroder Investment Management where he was a senior analyst.
Prior to joining Polar Capital, Masahiko was an analyst at Prudential Asset Management (1997-2000).
- MBA, Waseda University, Tokyo
- Chartered member of The Security Analyst Association of Japan
- 21 years
Sachin joined the Polar Capital Japan team in October 2014 having previously worked as the Firm’s Head of Trade Support.
Sachin joined Polar Capital as an operations executive in 2005 as a post-graduate.
- BSc in Actuarial Science, London School of Economics and Political Science MSc in Actuarial Science, University of Kent
- 14 years
Cumulative Performance (%)
|JPY Class I||2.33||-5.32||1.06||-17.04||39.37||20.81||84.13||129.99||4.82|
Discrete Annual Performance (%)
Top 10 Positions (%)
|Sumitomo Mitsui Financial||4.2|
|Mitsubishi UFJ Financial||3.8|
|Idemitsu Kosan Co||2.9|
Market Capitalisation Exposure (%)
|Large (Topix 100)||26.3||59.8|
|Medium (Topix mid 400)||38.6||29.9|
|Small (Topix small)||35.1||10.3|
|Oil & Coal Products||2.9||2.3|
|Other Financing Business||2.9||1.8|
|Textiles & Apparels||2.4||1.8|
|Glass & Ceramics Products||2.5||1.7|
|Fishery, Agriculture & Forestry||1.6||1.5|
|Electric Power & Gas||0.0||-1.7|
|Information & Communication||5.5||-3.4|