Morningstar Fund Report  | 03/04/2025Print

Lindsell Train Global Funds plc - Lindsell Train Japanese Equity Fund B Yen Inc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Lindsell Train Global Funds plc - Lindsell Train Japanese Equity Fund B Yen Inc
Fund-17.71.4-8.0-2.64.0
+/-Cat-16.99.2-16.5-10.64.0
+/-B’mrk-20.07.3-21.4-12.96.6
 
Category: Japan Flex-Cap Equity
Category Benchmark: Morningstar Japan TME NR JPY
Key Stats
NAV
02/04/2025		 JPY 188.27
Day Change -1.75%
Morningstar Category™ Japan Flex-Cap Equity
ISIN IE00B11DWS60
Fund Size (Mil)
02/04/2025		 JPY 10471.57
Share Class Size (Mil)
02/04/2025		 JPY 634.96
Max Initial Charge 4.00%
Ongoing Charge
31/05/2024		  0.90%
Morningstar Research
Analyst Report28/02/2025
Morningstar Manager Research,
Morningstar, Inc

Lindsell Train Japanese Equity’s distinct investment philosophy is implemented in a disciplined fashion, supporting a Morningstar Analyst Rating of Silver for all but the most expensive share class, which is rated Bronze.Fund manager Michael...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People25
Parent22
Process24
Performance
Price
Investment Objective: Lindsell Train Global Funds plc - Lindsell Train Japanese Equity Fund B Yen Inc
To maximise total return over the longer term from a well-diversified portfolio of equities, (and, if considered appropriate, convertible securities) primarily quoted on stock markets in Japan.
Returns
Trailing Returns (GBP)02/04/2025
YTD2.81
3 Years Annualised-0.68
5 Years Annualised-2.83
10 Years Annualised5.05
12 Month Yield 1.93
Dividend Paying Frequency Half-yearly
Management
Manager Name
Start Date
Michael Lindsell
31/01/2004
Inception Date
02/03/2006

Category Benchmark
Fund BenchmarkMorningstar Benchmark
TOPIX TR JPYMorningstar Japan TME NR JPY
Portfolio Profile for  Lindsell Train Global Funds plc - Lindsell Train Japanese Equity Fund B Yen Inc28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock97.930.0097.93
Bond0.000.000.00
Property0.000.000.00
Cash2.070.002.07
Other0.000.000.00
Top 5 Regions%
Japan100.00
United States0.00
Canada0.00
Latin America0.00
United Kingdom0.00
Top 5 Sectors%
Consumer Defensive46.38
Healthcare19.27
Communication Services14.63
Technology11.06
Financial Services5.90
Top 5 HoldingsSector%
Nintendo Co LtdCommunication ServicesCommunication Services9.55
Kao CorpConsumer DefensiveConsumer Defensive9.32
OBIC Business Consultants Co LtdTechnologyTechnology8.76
Astellas Pharma IncHealthcareHealthcare5.53
Pigeon CorpConsumer DefensiveConsumer Defensive5.17
Increase Decrease New since last portfolio
Lindsell Train Global Funds plc - Lindsell Train Japanese Equity Fund B Yen Inc
Growth Of 1000 (GBP) 31/03/2025
Fund:  Lindsell Train Global Funds plc - Lindsell Train Japanese Equity Fund B Yen Inc
Category:  Japan Flex-Cap Equity
Category Index:  Morningstar Japan TME NR JPY
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return2.5517.115.10-17.681.39-8.01-2.604.00
+/- Category16.641.67-5.54-16.859.15-16.50-10.574.01
+/- Category Index9.822.76-5.25-19.977.28-21.37-12.886.62
% Rank in Category134629628928512
Trailing Returns (GBP)02/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-1.75   -1.74-0.79
1 Week-2.37   0.232.73
1 Month-1.89   -0.840.91
3 Months1.59   0.956.05
6 Months-0.67   -1.55-0.99
YTD2.81   2.176.12
1 Year1.55   0.895.12
3 Years Annualised-0.68   -7.14-6.78
5 Years Annualised-2.83   -11.16-11.61
10 Years Annualised5.05   -2.24-1.42
 
Category: Japan Flex-Cap Equity
Category Index: Morningstar Japan TME NR JPY
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20254.00---
2024-1.45-5.8210.10-4.68
2023-2.61-5.68-1.241.40
2022-4.56-0.775.591.39
2021-7.600.10-0.87-10.22
2020-3.459.440.58-1.11
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageLow2 star
5-YearLowLow1 star
10-YearBelow AverageLow3 star
OverallBelow AverageLow2 star
 
Category :  Japan Flex-Cap EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev10.80 %
3-Yr Mean Return0.23 %
 
3-Yr Sharpe Ratio-0.35
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Japan TME NR JPY  Morningstar Gbl Corp Bd GR Hdg CHF
3-Yr Beta0.160.43
3-Yr Alpha4.152.85
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)JPY 816348-
Market Capitalisation% of Equity
Giant14.73
Large33.37
Medium32.56
Small14.61
Micro4.73
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings21.701.78
Price/Book1.741.81
Price/Sales1.732.15
Price/Cash Flow13.021.77
Dividend-Yield Factor2.570.85
 
Long-Term Projected Earnings Growth11.791.01
Historical Earnings Growth-6.01-0.49
Sales Growth5.560.68
Cash-Flow Growth11.410.66
Book-Value Growth3.890.45
 
Category: Japan Flex-Cap Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock97.930.0097.93
Bond0.000.000.00
Property0.000.000.00
Cash2.070.002.07
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States0.00-
Canada0.00-
Latin America0.00-
United Kingdom0.00-
Eurozone0.00-
Europe - ex Euro0.00-
Europe - Emerging0.00-
Africa0.00-
Middle East0.00-
Japan100.001.00
Australasia0.00-
Asia - Developed0.00-
Asia - Emerging0.00-
 
Category: Japan Flex-Cap Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Consumer CyclicalConsumer Cyclical2.770.17
Financial ServicesFinancial Services5.900.33
Consumer DefensiveConsumer Defensive46.3810.31
HealthcareHealthcare19.274.65
Communication ServicesCommunication Services14.632.52
TechnologyTechnology11.060.95
 
Category: Japan Flex-Cap Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings21
Total Number of Bond Holdings0
Assets in Top 10 Holdings62.54
NameSectorCountry% of Assets
Nintendo Co Ltd308Japan9.55
Kao Corp205Japan9.32
OBIC Business Consultants Co Ltd311Japan8.76
Astellas Pharma Inc206Japan5.53
Pigeon Corp205Japan5.17
Yakult Honsha Co Ltd205Japan4.90
Takeda Pharmaceutical Co Ltd206Japan4.88
Sysmex Corp206Japan4.83
Shiseido Co Ltd205Japan4.82
Square Enix Holdings Co Ltd308Japan4.78
 
Increase Decrease New since last portfolio
Category: Japan Flex-Cap Equity
 
Management
Name of CompanyLindsell Train Ltd
Phone00 44 20 7808 1210
Websitewww.lindselltrain.com
Address66 Buckingham Gate
 London   SW1E 6AU
 United Kingdom
DomicileIreland
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date02/03/2006
Fund Advisor(s)
Lindsell Train Ltd
Fund ManagerMichael Lindsell
Manager Start Date31/01/2004
Career Start Year1987
Education
Bristol University, B.S.
 
Biography
Michael Lindsell co-founded Lindsell Train Limited in 2000. He is the portfolio manager for Japanese equity portfolios and jointly manages Global portfolios.Before founding Lindsell Train he spent seven years at GT Management, first as CIO.Following the acquisition of GT by Invesco in 1998 he was appointed head of the combined global product team.His previous experience included working at Mercury Asset Management where he was director and head of Japanese fund management,at Scimitar Asset Management where he ran Pacific and Japanese mandates and at Lazard Brothers as an investment manager.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge4.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.73%
Ongoing Charge0.90%
Purchase Details
Minimum Investments
Initial10000000  JPY
Additional200000  JPY
Savings-
Tax Free Savings Schemes
ISAsYes