Fund Objective

There is no fund objective available from this fund manager.

View on Past Performance

The Fund declined by 16.3% in the six months to the end of September compared to a 3.8% fall in the weighted composite of Topix Small, Jasdaq and Japan TSE 2nd Section, in sterling terms. Taro Aso has taken over as Japan's Prime Minister, removing some short-term political uncertainty. Our view remains that the Japanese economy should be relatively immune from the effects of the credit crunch in Western markets.

Future Expectations

We continue to find high quality companies to invest in that we believe are very attractively valued on a longer term view. During the month we purchased new holdings in Asics, a leading running shoe manufacturer, and Nifco, a company that supplies automakers with plastic parts.

Fund Details