Morningstar Fund Report  | 03/04/2025Print

M&G Japan Fund Sterling I Acc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
M&G Japan Fund Sterling I Acc
Fund13.86.314.011.6-2.0
+/-Cat11.513.51.92.30.1
+/-B’mrk11.512.10.71.30.7
 
Category: Japan Large-Cap Equity
Category Benchmark: Morningstar Japan TME NR JPY
Key Stats
NAV
02/04/2025		 GBX 3793.02
Day Change -0.77%
Morningstar Category™ Japan Large-Cap Equity
IA (formerly IMA) Sector Japan
ISIN GB00B74CQP79
Fund Size (Mil)
02/04/2025		 GBP 3711.72
Share Class Size (Mil)
02/04/2025		 GBP 655.98
Max Initial Charge -
Ongoing Charge
14/02/2025		  0.51%
Investment Objective: M&G Japan Fund Sterling I Acc
The Fund aims to provide a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, than that of the MSCI Japan Index over any five-year period. At least 80% of the Fund is invested directly in equity securities and equity related securities of companies across any sectors and market capitalisations that are incorporated, domiciled, or do most of their business in Japan. The Fund usually holds a concentrated portfolio of fewer than 50 companies.
Returns
Trailing Returns (GBP)02/04/2025
YTD-2.65
3 Years Annualised9.61
5 Years Annualised14.47
10 Years Annualised7.94
12 Month Yield 0.77
Management
Manager Name
Start Date
Carl Vine
20/09/2019
Inception Date
03/08/2012

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI Japan NR GBPMorningstar Japan TME NR JPY
Portfolio Profile for  M&G Japan Fund Sterling I Acc28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock97.780.0097.78
Bond0.000.000.00
Property0.000.000.00
Cash2.220.002.22
Other0.000.000.00
Top 5 Regions%
Japan99.84
Middle East0.16
United States0.00
Canada0.00
Latin America0.00
Top 5 Sectors%
Industrials23.05
Technology20.04
Consumer Cyclical16.95
Financial Services15.15
Communication Services9.30
Top 5 HoldingsSector%
Toyota Motor CorpConsumer CyclicalConsumer Cyclical7.65
Mitsubishi UFJ Financial Group IncFinancial ServicesFinancial Services7.22
Sony Group CorpTechnologyTechnology5.59
Hitachi LtdIndustrialsIndustrials3.52
Mitsui & Co LtdIndustrialsIndustrials3.42
Increase Decrease New since last portfolio
M&G Japan Fund Sterling I Acc
Growth Of 1000 (GBP) 31/03/2025
Fund:  M&G Japan Fund Sterling I Acc
Category:  Japan Large-Cap Equity
Category Index:  Morningstar Japan TME NR JPY
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-15.188.383.6313.816.2514.0111.59-1.95
+/- Category-4.81-6.34-8.2211.5213.491.942.320.06
+/- Category Index-7.91-5.97-6.7211.5212.140.651.310.67
% Rank in Category90948433232442
Trailing Returns (GBP)02/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.77   -0.650.20
1 Week-5.52   -2.10-0.42
1 Month-3.94   -1.57-1.14
3 Months-3.30   -1.311.16
6 Months-1.32   0.47-1.64
YTD-2.65   -0.670.66
1 Year-2.76   -0.040.80
3 Years Annualised9.61   4.313.51
5 Years Annualised14.47   6.155.69
10 Years Annualised7.94   1.411.47
 
Category: Japan Large-Cap Equity
Category Index: Morningstar Japan TME NR JPY
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-1.95---
202413.52-4.601.311.71
20233.066.732.870.76
20220.46-2.982.905.94
20219.802.216.86-5.10
2020-17.4314.66-0.5110.01
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearHighAverage5 star
5-YearHighAbove Average5 star
10-YearHighHigh4 star
Overall*HighAbove Average5 star
 
Category :  Japan Large-Cap EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev10.95 %
3-Yr Mean Return10.31 %
 
3-Yr Sharpe Ratio0.54
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Japan TME NR JPY  Morningstar Japan TME NR JPY
3-Yr Beta0.890.89
3-Yr Alpha4.865.63
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)JPY 4498807-
Market Capitalisation% of Equity
Giant47.48
Large33.11
Medium16.76
Small2.50
Micro0.16
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings12.910.95
Price/Book1.120.87
Price/Sales0.930.93
Price/Cash Flow6.600.87
Dividend-Yield Factor2.551.04
 
Long-Term Projected Earnings Growth9.961.03
Historical Earnings Growth15.561.15
Sales Growth7.450.89
Cash-Flow Growth7.350.47
Book-Value Growth8.550.90
 
Category: Japan Large-Cap Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock97.780.0097.78
Bond0.000.000.00
Property0.000.000.00
Cash2.220.002.22
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States0.00-
Canada0.00-
Latin America0.00-
United Kingdom0.000.00
Eurozone0.00-
Europe - ex Euro0.00-
Europe - Emerging0.00-
Africa0.00-
Middle East0.1613.72
Japan99.841.00
Australasia0.00-
Asia - Developed0.000.00
Asia - Emerging0.00-
 
Category: Japan Large-Cap Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials1.180.27
Consumer CyclicalConsumer Cyclical16.951.13
Financial ServicesFinancial Services15.150.96
Real EstateReal Estate4.631.43
Consumer DefensiveConsumer Defensive4.170.83
HealthcareHealthcare5.530.74
Communication ServicesCommunication Services9.301.02
IndustrialsIndustrials23.051.07
TechnologyTechnology20.041.16
 
Category: Japan Large-Cap Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings52
Total Number of Bond Holdings0
Assets in Top 10 Holdings43.20
NameSectorCountry% of Assets
Toyota Motor Corp102Japan7.65
Mitsubishi UFJ Financial Group Inc103Japan7.22
Sony Group Corp311Japan5.59
Hitachi Ltd310Japan3.52
Mitsui & Co Ltd310Japan3.42
SoftBank Group Corp308Japan3.39
ORIX Corp103Japan3.33
Seven & i Holdings Co Ltd205Japan3.11
East Japan Railway Co310Japan3.11
Nippon Telegraph & Telephone Corp308Japan2.86
 
Increase Decrease New since last portfolio
Category: Japan Large-Cap Equity
 
Management
Name of CompanyM&G Securities Ltd
Phone+44 (0)800 390 390
Websitewww.mandg.co.uk
Address10 Fenchurch Avenue
 London   EC3M 5AG
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date03/08/2012
Fund Advisor(s)
M&G Investment Management Limited
Fund ManagerCarl Vine
Manager Start Date20/09/2019
Career Start Year1997
Education
University of Oxford, B.A.
 
Biography
Carl Vine joined M&G in 2019 as Co-Head of Asian Investment, with 22 years of investment experience, and was appointed to the management teams of the Japan and wider Asian strategies. Carl co-founded Oxford-based Port Meadow Capital Management, a boutique investment firm, in 2014. Prior to that, he worked as a Managing Director and Portfolio Manager for SAC Capital Advisors in Hong Kong and was the Asian-based member of their global investment committee. Before that, Carl was a Managing Director at UBS in Hong Kong, where he invested proprietary capital across Asia and Japan, and a Principal for TPG-Axon Capital. He began his career with Prudential Portfolio Managers in London, before relocating to Tokyo to open Prudential’s Japan office. Carl holds a Bachelor of Arts (Hons) in Politics, Philosophy & Economics from Oxford University.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.55%
Ongoing Charge0.51%
Purchase Details
Minimum Investments
Initial500000  GBP
Additional10000  GBP
Savings-
Tax Free Savings Schemes
ISAsYes