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SCB Asset Management Company Limited would like to inform the unitholder that SCB Japan Small Cap Equity Fund (SCBJPSM) has been approved by the Securities and Exchange Commission Office on fund type and investment policy change to be a feeder fund. The Fund’s benchmark and settlement period shall be also updated to be aligned with the Master Fund. Such change will be effective from 23 July 2024 onwards per following details.
| Subject | Existing | New |
| Fund Type | Feeder Fund | Fund of Funds |
| Investment Policy
|
The Fund mainly invests in investment units of foreign funds, such as CIS and/or ETF which mainly invest in companies with small market capitalization listed in the Japan Stock Exchange, or incorporated or has significant business operation in Japan; for example, having business operation or having its main income from operating business in Japan. The Fund will have an average net exposure in investment units of foreign funds having characteristics as mentioned above, in an accounting period at least 80% of the Fund’s NAV and will invest at least 2 foreign funds, with an average investment in each fund not exceeding 79% of the Fund’s NAV in any accounting period. Investment Proportion in investment units of foreign funds depends on the fund managers’ discretion. |
The Fund mainly invests in the investment units of Nomura Funds Ireland – Japan Small Cap Equity Fund (Master Fund) I (JPY) share class which is a sub-fund of Nomura Funds Ireland plc managed by Bridge Fund Management Limited and investment managed by Nomura Asset Management U.K. Limited under UCITS Regulations authorized by the Central Bank of Ireland. The investment objective of the Master Fund is to achieve long-term capital growth through investment in an actively managed portfolio of Equity and Equity-Related Securities of small capitalization companies in Japan. The Fund will have an average net exposure in investment units of the Master Fund, in an accounting period at least 80% of the Fund’s NAV. |
| Management Style | SCBJPSM aims to achieve higher performance than the Benchmark Index (Active management). | SCBJPSM expects performance to be in accordance with the Master Fund, whereas the Master Fund aims to achieve higher performance than the Benchmark Index (Active Management). |
| Benchmark | MSCI Japan Small Cap Equity Net Total Return Index in JPY 100%
|
None. The Master Fund is actively managed and has no benchmark; however, the reference index of the Master Fund for performance comparison purpose is Russell/Nomura Small Cap Index. |
| Settlement Period | T+6 | T+4 |
| Fund Portfolio | - Pinebridge Japan Small Cap Equity Fund 75.32% of NAV - Sumi Trust Investment Fund – Japan Small Cap 18.99% of NAV (Data as of 31 May 2024)
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SCBJPSM mainly invests in the Master Fund, Nomura Funds Ireland – Japan Small Cap Equity Fund on average in an accounting period at least 80% of NAV |
The advantage of the change is to enhance portfolio management for the utmost benefit to unitholders. The Master Fund, Nomura Funds Ireland – Japan Small Cap Equity Fund, actively invests in Japanese small cap equity which is in consistency with SCBJPSM’s investment objective. The Master Fund focuses on bottom-up approach in security selection with a key focus on those companies that possess robust fundamental and potential growth in long-term as a main alpha source. The portfolio is well-balanced between value and growth stocks together with a significant diversification in number of holdings to minimize portfolio volatility through all investment cycles. The Master Fund is Morningstar 4 rated in EAA Fund Japan Small/Mid-Cap Equity (data as of 31 March 2024). You may visit SCBAM’s website for more details of the Master Fund or contact Client Relations 0-2777-7777 during business days between 08.30 – 17.00 for any further inquiries.
Announced on 20 June 2024
SCB Asset Management Company Limited
SCB Global Income Fund (Accumulation)
SCB LOW VOLATILITY EQUITY FUND (Dividend)
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(Accumulation)
SCB Low Volatility Equity RMF
SCB Global Equity Absolute Return Fund (Accumulation)
SCB Mixed – Spicy Fund (Accumulation)
SCB Income Fund (Accumulation)
SCB Income Fund (Auto Redemption)
