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ii Super 60 - Legg Mason IF Japan Equity

ii Super 60 investments:
Legg Mason IF Japan Equity

Asset Group Asset Sub-Group Investment Category
Equities Japanese equities Adventurous

Selection rationale:
This fund is run by Shiozumi Asset Management whose founder, Hideo Shiozumi, has almost 50 years’ investment experience.

The fund seeks to exploit structural changes in Japan by identifying high growth companies with annual earnings growth of more than 20%, which are nevertheless attractively valued.

Shiozumi’s investment style is based around three key tenets; focus on growth companies, have a high conviction portfolio that is far more concentrated than competitors and the index, and hold stocks for the truly long term.

He invests in companies across the market spectrum that he believes have compelling earnings growth because of their positions as market leaders, and their ability to deliver profitability. He says finding growth stocks has become easier over the last decade as the economy has become more service oriented, while the internet as a sales channel has created many new businesses. In addition, the government has started to encourage growth champions in healthcare, medical care and robotics as it tackles the effects of an ageing society.

The fund has a bias towards small and medium-sized companies operating in profitable niches – this is where Shiozumi thinks the potential for share price expansion is greatest. The fund has a low turnover. Many companies have been held for over five years, some for more than 10. Investing is, in Shiozumi’s view, all about patience.

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The information we provide in the Super 60 investments list is an opinion provided by ii or one of its partners on whether to buy a specific investment. None of the opinions provided are a “personal recommendation”, therefore you should ensure that any investment decisions you make are suitable for your personal circumstances. Past performance of the underlying constituents is not a guarantee of future performance. Remember, the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest.

Risk warnings

Past performance of the underlying constituents is not a guarantee of future performance. The value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. 

Annual performance can be found on the factsheet of each fund, trust or ETF. Simply click on the asset’s name and then the performance tab. 

The information we provide in the ii Super 60 investments list is an opinion provided by ii or one of its partners on whether to buy a specific investment. Please note that none of the opinions we provide are a “personal recommendation”, which means that we have not assessed your investing knowledge and experience, your financial situation or your investment objectives. Therefore you should ensure that any investment decisions you make are suitable for your personal circumstances.

If you are unsure about the suitability of a particular investment or think that you need a personal recommendation, you should speak to a suitably qualified financial advisor. 

Any changes to the ii Super 60 investments list and the rationale behind those decisions will be communicated through the Quarterly Investment Outlook.

Details of all recommendations issued by ii during the previous 12 month period can be found here.

ii adheres to a strict code of conduct. Members of ii staff may hold shares in companies mentioned in the ii Super 60 investments list, which could create a conflict of interest. Any member of staff intending to complete some research about any financial instrument in which they have an interest are required to disclose such interest to ii. We will at all times consider whether such interest impairs the objectivity of the recommendation.

In addition, staff involved in the production of this ii Super 60 list are subject to a personal account dealing restriction. This prevents them from placing a transaction in the specified instrument(s) for five working days before and after an investment is included or amended and made public within the list. This is to avoid personal interests conflicting with the interests of the recipients of this ii Super 60 investments list.