Comgest celebrates inflows into local Japan fund

Tokyo_Kabuki-choInflows into a domestic Japanese equity fund launched by Comgest amount to a “big vote of confidence”, claims the French asset manager. The firm launched the fund last year as a locally domiciled version of its Irish-domiciled Comgest Growth Japan Ucits fund. Three Japanese fund-of-funds groups have made an initial investment of $25 million into the local fund, said Comgest. “Even with local offices, Comgest is very much considered a foreign fund manager in Japan, so it’s a big vote of confidence to attract domestic investors to our Japan equity strategy,” said Richard Kaye, portfolio manager. The fund aims to invest in a relatively small number of companies that are either based or operate in Japan. Significant holdings include logistics firm Daifuku, machinery franchise Keyence Corporation and cosmetics company Pola Orbis. The Ucits version of the fund has $444 million under management. ©2017 funds global asia

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