Bangkok--2 Sep--Aberdeen
Aberdeen Asset Management Company Limited (‘Aberdeen’) announced it had raised about THB 400 million for its Aberdeen Japan Opportunities Fund (ABJO) following a two-week sales effort. The fund will begin trading on September 2, 2013.
Aberdeen said it was very pleased with the response, which it credited to the strong stimulus now being seen in Japan, the company’s disciplined long-term investment approach and Thai investors looking to diversify. The majority of them are high net worth individuals.
The Fund’s launch comes as global investors turn more risk averse with the prospect of the end to cheap money in the US, slower growth in China and weaker corporate returns globally. Thailand’s stock market is officially in a ‘bear market’ having fallen by 20% from its peak this year.
The launch was supported by the presence of Keita Kubota, who is one of the fund managers in the Aberdeen Group’s Tokyo-based investment team. Aberdeen focuses on stock picking opportunities among the 3,000 listed companies in Japan across a range of industries and sectors. As evidence of that, the Aberdeen Global — Japanese Equity fund, a Luxembourg-listed vehicle into which ABJO invests, holds only about 30 stocks. The Fund brings to nine the number of funds in Aberdeen’s FIF range.
Mr. Chaikaseam Vadhanasiripong, Head of Funds Distribution — Thailand, said: “This is a difficult environment in which to talk stocks but our investors have really taken on board the specific opportunities in Japan and the nuances of our investment approach. Taking into account price deflation, Japan has actually been growing in recent years; at the same time companies have become more resilient with strengthened balance sheets, better governance and lower costs. This has created value for investors as over 60% of companies in Japan are trading below book value. Provided you are patient and careful about picking stocks, we strongly believe this is a market with long-term earnings potential.”
Aberdeen Global-Japanese Equity Fund (Master Fund)’s Information
Fund Type: Equity
Investment policy: The Fund’s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund’s assets in equities and equity-related securities of companies with their registered office in Japan; and /or, of companies which do most of their business in Japan, and /or, of holding companies that have most of their assets in companies with their registered office in Japan.
Risks: Currency risk, Regulatory risk, Regulatory risk in Non-EU Jurisdictions, Liquidity risk, Counterparty risk, Specific risks related to OTC derivative transactions, Inflation/Deflation risk, Increased Volatility and Leverage risk.
Management fee: 1.50% of Net Asset Value per annum
Charges: Maximum initial Avg: 4.25% to 5.00%; Max 6.38%