Nomura Funds Ireland –
Japan Small-Cap Equity Fund
Invest in Japanese Hidden Champions
Nomura Funds Ireland – Japan Small Cap Equity Fund
Overview
The Nomura Japan Small Cap Equity Fund aims to identify undervalued but highly competitive companies for long-term outperformance through rigorous, bottom-up fundamental analysis. With one of the largest Japan small-cap teams, we seek to identify investment opportunities by utilising our extensive research capabilities based in Tokyo.
Approach
- 100% bottom-up approach – identify undervalued companies relative to their intrinsic value, seeking companies with strong businesses, showing signs of positive change in fundamentals and governance, and expected to improve capital efficiency from changes in attitude towards shareholder returns.
- Diversified portfolio of 100-200 holdings.
- Focus on the competitiveness of companies and assessing the stability of long-term growth opportunities, high ROIC(return on invested capital), and ability to maintain or improve ROE(Return on Equity) through appropriate capital policies.
Reasons to Invest
- Unique investment opportunity – Many smaller companies in Japan have unique competitive advantages and growth drivers with limited sensitivity to economic fluctuations, and have the potential to raise their capital efficiency by improving governance.
- Opportunity in market inefficiency – Due to lack of research and institutional ownership, Japanese small caps are generally misunderstood. Our Portfolio Managers are able to exploit these inefficiencies with their own research, visiting companies extensively.
- Seasoned, on-the-ground team – One of the largest local internal research team of Portfolio Managers and analysts dedicated to small-caps in Japan.
Awards and Ratings
Morningstar Overall Ratings as at 31-01-2025. Copyright © Morningstar 2025. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied, adapted or distributed; (3) is not warranted to be accurate, complete or timely; and (4) do not constitute advice of any kind, whether investment, tax, legal or otherwise. User is solely responsible for ensuring that it complies with all laws, regulations and restrictions applicable to it. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information, except where such damages or losses cannot be limited or excluded by law in your jurisdiction. Past performance is no guarantee of future results. Morningstar rating based on Nomura Funds Ireland – Japan Small Cap Equity Fund F JPY.
Potential Significant Risks
By focusing its investments in Japan, the fund will have greater exposure to the market, political and economic risks of that country than if it was more diversified across a number of countries. Shares of smaller companies may be more difficult to buy and sell than those of larger companies.
Investment Objective |
To achieve long-term capital growth through investment in an actively managed portfolio of Equity and Equity-Related Securities of small capitalisation companies in Japan. |
Fund Size |
USD 160.7 million (as at 31.01.2025) |
Investment Manager |
Nomura Asset Management U.K. Ltd. |
Lead Fund Manager |
Makoto Ito, CMA, |
Launch Date |
07.02.2020 |
Base Currency |
JPY |
Universe |
Morningstar category: Japan Small/Mid-Cap Equity |
Benchmark |
Russell/Nomura Small Cap Index (dividends reinvested) |
Domicile |
Ireland (Nomura Funds Ireland plc) |
Lead ISINs |
F JPY: IE00BJCW7L63 For additional share class information, please contact us. |
| Fund | Monthly Factsheet | |||||
|---|---|---|---|---|---|---|
| Class F JPY |
|
For a full list of available share class documents including PRIIPs KIDs, please visit our fund documents page.
The lead share class fund literature is shown first in the above list. If any literature is not available in the above list for the share class you are invested in/interested in, please contact NAMupdates@nomura-asset.eu
Project BRIDGE
In March 2022, Nomura Asset Management (“NAM”) announced the launch of Project BRIDGE.
Read more about Project BRIDGE
Nomura Funds Ireland plc is an open-ended investment company with variable capital, incorporated in Ireland on 13th April, 2006 under the Act with registration number 418598. The Fund has been authorised by the Central Bank as an UCITS pursuant to the UCITS Regulations. The Fund is structured as an umbrella fund consisting of different Sub-Funds each comprising one or more Classes. The Fund has segregated liability between each of its Sub-Funds.
Full information on the presented funds, which is relevant for an investment decision, can be found in the fund´s most recent sales prospectus, key information document (PRIIPs KID), key investor information document (UCITS KIID) – as appropriate for your relevant jurisdiction – and annual and semi-annual reports. The UCITS KIIDs are available in English and, for the PRIIPs KIDs, in the official language of the countries in which the fund is registered for distribution. This fund displays higher volatility due to its composition / the techniques used by the fund management, i.e. unit prices can fluctuate upwards or downwards within short periods of time. Performance in the past is no guarantee of future success. There can be no guarantee that the fund´s investment objective will actually be achieved.
A summary of investor rights in English and information on collective redress mechanisms are available at https://www.nomura-asset.co.uk/download/funds/how-to-invest/Summary_of_investor_rights.pdf . Nomura Asset Management U.K. Limited may at any time decide to terminate arrangements it may have made for the marketing of units of a fund in a member state other than its home member state.
