Fact sheet: Axa Framlington Japan

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
JAPANESE EQUITIES
Sector
UT Japan
Fund type
Unit Trust
Primary aim
No data available.
Why Money Observer Rates Axa Framlington Japan

New for 2017. Taking advantage of long term growth trends

This fund can invest in Japanese companies of any size but has a bias towards smaller companies. It has been managed since 2010 by Chisako Hardie. During her investment career of over 20 years, she has focused mainly on small company stocks.

The investment process she uses for this fund includes the consideration of macroeconomic factors in order to identify long-term growth trends, combined with research into individual companies to find those which she believes can deliver the best returns.

The themes that Hardie has been targeting in recent times include market share expansion in a mature market, strong growth in emerging economies, automation and robots, electronisation of automobiles and an ageing population.

In seeking to find individual companies to exploit these trends, she undertakes a rigorous examination of their financial and management strengths and she is also able to draw on the knowledge of Axa Framlington's global sector specialists. Smaller Japanese companies are not very well researched so company meetings, visits and industry contacts are also central to validating her strategy.

The portfolio typically holds between 60-100 stocks and has a low turnover. But stocks will be sold if the company appears overvalued, or Hardie has lost faith in the management. A change in the competitive environment, or the identification of a better opportunity, are other typical reasons for selling.

3 Year Performance
Fund Performance80.7%
Average of Rated Funds Group108.1%
Sector Performance55.2%
Fund information
Fund name
AXA Framlington Japan Z Inc
Fund manager company
AXA IM UK
Fund type
Unit Trust
Fund managers
  • Chisako Hardiesince 15/04/2010
Accolades
Fund objective
The aim of this Fund is to provide long-term capital growth
Benchmark
  • FTSE Japan
Investment style
Growth
Investment method
Shares
Quick stats
1 Year return
18.3%
1 Year rank in sector
7/44
Sector
UT Japan
Yield
0%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.85%
Fund size
£260m (£169m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
120
Top in this sector
Fund name1 Year
Legg Mason IFJaEq40.8%
First State Jap Focs31.2%
Fidelity Japan Smaller Comp23.4%
JPM Japan22.3%
Baillie Gifford Japanese20.1%
...more in UT Japan

Performance snapshot

Holdings snapshot

  • Japan97.7%
    Money Market2.3%
  • Industrials29.3%
    Health Care14.5%
    Financials13.1%
    Consumer Goods12.5%
    Consumer Services11.3%
  • Japanese Equities97.7%
    Money Market2.3%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-4.3%0.6%8.5%18.3%80.7%151.3%
Sector-4%0.6%6.6%12%55.2%93.2%
Rank within sector16 / 4713 / 4712 / 467 / 442 / 402 / 37
Quartile2nd2nd2nd1st1st1st
Calendar performance
 YTD - 20182017201620152014
Fund-0.6%23.8%26.9%24.3%5.2%
Sector-0.8%17.7%24%15.8%0.8%
Rank within sector13 / 478 / 449 / 433 / 404 / 38
Quartile2nd1st1st1st1st
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
8.22
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.83
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
1.63
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
12
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
6.57
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.79
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.72
Price movement
52 week high199.7
52 week low157
Current bid price-
Current offer price-
Current mid price188
Region
1Japan97.74%
2Money Market2.26%
Industry sector
1Industrials29.3%
2Health Care14.47%
3Financials13.06%
4Consumer Goods12.5%
5Consumer Services11.27%
6Technology11.07%
7Basic Materials3.74%
8Money Market2.26%
9Telecommunications1.31%
Asset type
1Japanese Equities97.74%
2Money Market2.26%
Individual holdings
1YAMASHIN-FILTER CORP1.88%
2OUTSOURCING INC1.75%
3GMO PAYMENT GATEWAY INC1.45%
4SHIMA SEIKI MFG1.42%
5WACOM CO1.41%
6SONY CORP1.38%
7DAIFUKU CO1.35%
8SBI HLDGS INC1.33%
9SOFTBANK GROUP CORP1.31%
Management
Fund manager group
AXA Investment Managers
Fund manager company
AXA IM UK
Fund type
Unit Trust
Fund objective
The aim of this Fund is to provide long-term capital growth
Benchmark
  • FTSE Japan
Investment style
Growth
Investment method
Shares
Fund managers
NameSinceBiography
Chisako Hardie15/04/2010Chisako joined AXA Investment Managers in June 2006 and is the lead manager for the AXA Framlington Japan Fund. Before joining AXA Investment Managers, she was Investment Director for six years at Scottish Widows Investment Partnership. Between 1996 and 2000, she held the position of Assistant Director at Martin Currie Investment Management. She started her career as Investment Analyst, first at Scottish Provident (from 1991 to 1994) and then at Scottish Life (from 1994 to 1996). Chisako holds a BA in Sociology from Keio University, Tokyo, and is also a Chartered Member of the Securities Analysts Association of Japan.
Compliance
Transparent for Swiss Tax, IA Recognised, UCITS IV Compliant, UCITS V Compliant
Domicile
No data available.
Fund for sale in
Switzerland, United Kingdom
AXA Framlington Japan R Acc
Initial charge-
Annual charge1.5%
Min single investment£1,000
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.6%
Total expense ratio (TER)1.52%
Bid price-
Offer price-
Mid price606.4
CurrencyGBX
Price updated20/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFR14
AXA Framlington Japan R Inc
Initial charge-
Annual charge1.5%
Min single investment£1,000
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.6%
Total expense ratio (TER)1.52%
Bid price-
Offer price-
Mid price595.1
CurrencyGBX
Price updated20/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFR13
AXA Framlington Japan Z Acc
Initial charge-
Annual charge0.75%
Min single investment£100,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)0.85%
Total expense ratio (TER)0.8%
Bid price-
Offer price-
Mid price270.9
CurrencyGBX
Price updated20/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code11VJ
AXA Framlington Japan Z Inc
Initial charge-
Annual charge0.75%
Min single investment£100,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)0.85%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price188
CurrencyGBX
Price updated20/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeM3CM
Data provided by

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