JOHCM opens new Japan fund for McGlashan

JOHCM has opened the doors on Scott McGlashan's new Japan vehicle

JOHCM opens new Japan fund for McGlashan

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The JOHCM Japan Dividend Growth Fund will be co-managed by McGlashan and Ruth Nash.

The latest product in the boutique's Dublin Oeic range will invest in large-cap stocks and be measured against the Topix 100 Index.

Supported by analyst Stephanie Spencer, McGlashan and Nash will run two screens – one for dividend yield and one for dividend growth – to to identify a universe of 200 stock candidates.

Senior fund manager McGlashan, who also runs the group's $1bn (£603m) Japan Fund, which was closed to new money last year, said: "Dividends are climbing in Japan. Corporate Japan is cash-rich and the breakdown of the old cross-shareholding system means companies want to cultivate long-term shareholders and demand for yield is increasing from both institutional and retail investors.

"Domestic institutional investors are likely to raise equity weightings over time and will be focused on higher-yielding shares. Meanwhile, the launch of the Nippon ISA ensures retail savers will also be looking closely at higher-yielding equities."

While the Japan Fund is closed, in line with JOHCM's broader strategy of carefully managing inflows, the new fund will be capped at £5bn, due to its more flexible mandate of focusing on the largest 200 companies in Japan.

The funds A and B share classes will have respective AMCs of 0.625% and 1.25%, both with a minimum investment of £1,000.

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