Invesco ICVC Japanese Equity Advantage (UK) Class Z Acc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 30/11/19 to 30/11/20 |
30/11/20 to 30/11/21 |
30/11/21 to 30/11/22 |
30/11/22 to 30/11/23 |
30/11/23 to 30/11/24 |
|
|---|---|---|---|---|---|
| Fund | -4.9% | 4.2% | -7.4% | 3.2% | 20.9% |
| Sector | 11.7% | 3.8% | -7.3% | 6.4% | 12.6% |
| Rank | 82/89 | 47/92 | 55/94 | 75/97 | 8/98 |
| Quartile | 4 | 3 | 3 | 4 | 1 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/11/24 |
5 Years to 30/11/24 |
10 Years to 30/11/24 |
||
| Fund | 4.9% | 2.8% | 5.9% | |
| Sector | 3.6% | 5.2% | 8.4% | |
| Rank | 45/94 | 72/89 | 61/64 | |
| Quartile | 2 | 4 | 4 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| SANRIO COMPANY | 4.77 |
| CANON | 4.74 |
| USS CO. | 4.53 |
| KEYENCE CORPORATION | 4.50 |
| TOTO | 4.35 |
| ORIX CORPORATION | 4.14 |
| HOYA CORP | 4.10 |
| TREND MICRO INC | 3.76 |
| NIPPON SANSO HOLDINGS CORPORATION | 3.61 |
| OBIC BUSINESS CONSULTANTS CO. | 3.42 |
| Total | 41.93 |
Fund Aims
The Fund aims to achieve long-term (5 years plus) capital growth. The Fund invests at least 80% of its assets in shares or other equity related securities of companies incorporated, domiciled or carrying out the main part of their economic activity in Japan which meet the Fund’s environmental, social and governance (ESG) criteria as further detailed below. The Fund follows the following ESG methodology: 1. Negative ESG screening: The Fund will exclude companies with a certain level of involvement in some sectors, including but not limited to weapons, coal, fossil fuels, tobacco, adult entertainment and gambling, as well as companies not compliant with the UN global compact principles. The current exclusion criteria may be updated from time to time. 2. Positive ESG screening: The Fund will also increase overall exposure to those companies with sufficient practice and standards in terms of ESG and sustainable development, based on the fund manager’s proprietary rating system. In pursuing the Fund’s investment objective, the fund manager may consider it appropriate to also invest in other transferable securities (including non Japanese companies), money-market instruments, collective investment schemes (including funds managed by the Invesco group), deposits and cash. The Fund intends to invest 100% of its assets (excluding cash and cash equivalents) in investments meeting the ESG screening criteria described above. Derivatives use: The Fund may use derivatives for efficient portfolio management purposes only, to reduce risk, reduce costs and/or generate additional capital or income. Such derivatives may not be fully aligned with the Fund’s ESG screening criteria.
Fund Manager
Based in Tokyo, Tadao is Chief Portfolio Manager for Japanese Equity Advantage portfolios.
Tadao started his investment career in 1993, when he gained investment experience at JP Morgan in Tokyo. He then moved to Morgan Stanley, initially as a research analyst and then finally as Portfolio Manager. He joined our company in 2010 as a result of Invesco’s acquisition of Morgan Stanley’s retail asset management business.
He holds a BA and MA in Law from Keio University. He is also a Chartered Member of the Security Analysts Association.
Fund Overview
| Mid (20/12/2024) | 542.66p |
| Historic yield | 1.91% |
| Fund size (30/09/2024) | £107.20m |
| Number of holdings | 167 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.75% |
| Launch date | 11/12/2012 |
Asset Allocation
| International Equities | 98.57% | |
| Money Market | 1.53% | |
| UK Corporate Bonds | 0.08% | |
| International Bonds | 0.03% | |
| Alternative Trading Strategies | 0.00% | |
| Cash and Equivalents | -0.42% | |
| Other Assets | 0.20% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 98.57% | |
| Money Market | 1.53% | |
| UK Corporate Bonds | 0.08% | |
| International Bonds | 0.03% | |
| Alternative Trading Strategies | 0.00% | |
| Cash and Equivalents | -0.42% | |
| Other Assets | 0.20% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Consumer Discretionary | 25.30% | - | - | - | |
| Consumer Products & Services | - | 15.62% | - | - | |
| Leisure Goods | - | - | 11.09% | - | |
| Toys | - | - | - | 4.77% | |
| Electronic Entertainment | - | - | - | 4.62% | |
| Consumer Electronics | - | - | - | 1.71% | |
| Consumer Services | - | - | 4.53% | - | |
| Consumer Services: Misc. | - | - | - | 4.53% | |
| Travel & Leisure | - | 3.78% | - | - | |
| Travel & Leisure | - | - | 3.78% | - | |
| Recreational Services | - | - | - | 2.84% | |
| Restaurants & Bars | - | - | - | 0.95% | |
| Automobiles & Parts | - | 3.20% | - | - | |
| Automobiles & Parts | - | - | 3.20% | - | |
| Auto Parts | - | - | - | 3.20% | |
| Media | - | 2.70% | - | - | |
| Media | - | - | 2.70% | - | |
| Media Agencies | - | - | - | 2.70% | |
| Industrials | 23.09% | - | - | - | |
| Industrial Goods & Services | - | 17.01% | - | - | |
| Electronic & Electrical Equipment | - | - | 7.86% | - | |
| Electronic Equipment: Gauges & Meters | - | - | - | 7.86% | |
| General Industrials | - | - | 2.94% | - | |
| Diversified Industrials | - | - | - | 2.94% | |
| Industrial Engineering | - | - | 2.57% | - | |
| Machinery: Agricultural | - | - | - | 1.57% | |
| Machinery: Construction & Handling | - | - | - | 1.00% | |
| Industrial Transportation | - | - | 2.55% | - | |
| Railroads | - | - | - | 2.55% | |
| Industrial Support Services | - | - | 1.10% | - | |
| Professional Business Support Services | - | - | - | 1.10% | |
| Construction & Materials | - | 6.08% | - | - | |
| Construction & Materials | - | - | 6.08% | - | |
| Building Materials: Other | - | - | - | 4.35% | |
| Engineering & Contracting Services | - | - | - | 1.73% | |
| Technology | 15.80% | - | - | - | |
| Technology | - | 15.80% | - | - | |
| Software & Computer Services | - | - | 9.11% | - | |
| Software | - | - | - | 7.19% | |
| Consumer Digital Services | - | - | - | 1.92% | |
| Technology Hardware & Equipment | - | - | 6.69% | - | |
| Electronic Office Equipment | - | - | - | 4.74% | |
| Semiconductors | - | - | - | 1.08% | |
| Computer Hardware | - | - | - | 0.86% | |
| Health Care | 12.01% | - | - | - | |
| Health Care | - | 12.01% | - | - | |
| Medical Equipment & Services | - | - | 6.41% | - | |
| Medical Supplies | - | - | - | 4.99% | |
| Medical Equipment | - | - | - | 1.42% | |
| Pharmaceuticals & Biotechnology | - | - | 5.09% | - | |
| Pharmaceuticals | - | - | - | 5.09% | |
| Health Care Providers | - | - | 0.51% | - | |
| Health Care Services | - | - | - | 0.51% | |
| Financials | 9.91% | - | - | - | |
| Banks | - | 5.77% | - | - | |
| Banks | - | - | 5.77% | - | |
| Banks | - | - | - | 5.77% | |
| Financial Services | - | 4.14% | - | - | |
| Investment Banking & Brokerage Services | - | - | 4.14% | - | |
| Diversified Financial Services | - | - | - | 4.14% | |
| Basic Materials | 9.42% | - | - | - | |
| Chemicals | - | 9.42% | - | - | |
| Chemicals | - | - | 9.42% | - | |
| Specialty Chemicals | - | - | - | 5.82% | |
| Chemicals: Diversified | - | - | - | 3.36% | |
| Chemicals & Synthetic Fibers | - | - | - | 0.25% | |
| Consumer Staples | 3.04% | - | - | - | |
| Food, Beverage & Tobacco | - | 3.04% | - | - | |
| Beverages | - | - | 3.04% | - | |
| Soft Drinks | - | - | - | 3.04% | |
| Cash and Equivalents | 1.11% | - | - | - | |
| Non-Classified | 0.20% | - | - | - | |
| Bonds | 0.11% | - | - | - | |
| Alternative Trading Strategies | 0.00% | - | - | - | |
| Alternative Trading Strategies | - | 0.00% | - | - | |
| Alternative Trading Strategies | - | - | 0.00% | - | |
| Alternative Trading Strategies | - | - | - | 0.00% | |
Regional Allocation
| Japan | 98.57% | |
| Cash and Equivalents | 1.11% | |
| Non-Classified | 0.21% | |
| UK | 0.08% | |
| Australia & New Zealand | 0.02% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 100.30% | |
| Pound Sterling | 0.11% | |
| Cash | -0.42% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Japan | 98.57% | - | |
Japan
|
- | 98.57% | |
| Cash and Equivalents | 1.11% | - | |
| Non-Classified | 0.21% | - | |
| UK | 0.08% | - | |
United Kingdom
|
- | 0.08% | |
| Australia & New Zealand | 0.02% | - | |
Australia
|
- | 0.02% | |
Breakdown By Market Cap (%)
| Mega |
|
24.62% |
| Large |
|
21.47% |
| Medium |
|
45.78% |
| Small |
|
6.27% |
| Micro |
|
0.44% |
| Non-Classified |
|
0.20% |
| Bonds |
|
0.11% |
| Cash |
|
1.11% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | SANRIO COMPANY | 4.77% | Leisure Goods | Japan |
| 2 | CANON | 4.74% | Technology Hardware & Equipment | Japan |
| 3 | USS CO. | 4.53% | Consumer Services | Japan |
| 4 | KEYENCE CORPORATION | 4.50% | Electronic & Electrical Equipment | Japan |
| 5 | TOTO | 4.35% | Construction & Materials | Japan |
| 6 | ORIX CORPORATION | 4.14% | Investment Banking & Brokerage Services | Japan |
| 7 | HOYA CORP | 4.10% | Medical Equipment & Services | Japan |
| 8 | TREND MICRO INC | 3.76% | Software & Computer Services | Japan |
| 9 | NIPPON SANSO HOLDINGS CORPORATION | 3.61% | Chemicals | Japan |
| 10 | OBIC BUSINESS CONSULTANTS CO. | 3.42% | Software & Computer Services | Japan |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 15.80% | - | - | - | - | - | - | 15.80% |
| Financials | - | 9.91% | - | - | - | - | - | - | 9.91% |
| Consumer Discretionary | - | 25.30% | - | - | - | - | - | - | 25.30% |
| Consumer Staples | - | 3.04% | - | - | - | - | - | - | 3.04% |
| Health Care | - | 12.01% | - | - | - | - | - | - | 12.01% |
| Industrials | - | 23.09% | - | - | - | - | - | - | 23.09% |
| Basic Materials | - | 9.42% | - | - | - | - | - | - | 9.42% |
| Cash and Equivalents | - | - | - | - | - | - | - | -0.42% | -0.42% |
| Bonds | - | - | 0.08% | 0.03% | - | - | - | - | 0.11% |
| Non-Classified | - | - | - | - | - | - | 0.20% | 1.53% | 1.73% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only.
Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B8N44W4 |
| Mex Code | BRGAAR |
| Isin Code | GB00B8N44W47 |
| Citi Code | GUVL |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.75% |
Aims and Benchmark
| Aims | The Fund aims to achieve long-term (5 years plus) capital growth. The Fund invests at least 80% of its assets in shares or other equity related securities of companies incorporated, domiciled or carrying out the main part of their economic activity in Japan which meet the Fund’s environmental, social and governance (ESG) criteria as further detailed below. The Fund follows the following ESG methodology: 1. Negative ESG screening: The Fund will exclude companies with a certain level of involvement in some sectors, including but not limited to weapons, coal, fossil fuels, tobacco, adult entertainment and gambling, as well as companies not compliant with the UN global compact principles. The current exclusion criteria may be updated from time to time. 2. Positive ESG screening: The Fund will also increase overall exposure to those companies with sufficient practice and standards in terms of ESG and sustainable development, based on the fund manager’s proprietary rating system. In pursuing the Fund’s investment objective, the fund manager may consider it appropriate to also invest in other transferable securities (including non Japanese companies), money-market instruments, collective investment schemes (including funds managed by the Invesco group), deposits and cash. The Fund intends to invest 100% of its assets (excluding cash and cash equivalents) in investments meeting the ESG screening criteria described above. Derivatives use: The Fund may use derivatives for efficient portfolio management purposes only, to reduce risk, reduce costs and/or generate additional capital or income. Such derivatives may not be fully aligned with the Fund’s ESG screening criteria. |
| Benchmark | TOPIX Index (Net Total Return) |
| Benchmark Category | - |
| IA Sector | Japan |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | ICVC |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Annually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | Citibank |
| Fund Administrator | Internal |
| Fund Registrar | Internal |
| Fund Custodian | The Bank of New York Mellon (International) Limited |
Group Details
| Group name | Invesco ICVC |
| Group address | INVESCO Park Henley-on-Thames Oxfordshire RG9 1HH United Kingdom |
| Group telephone | 0800 028 2121 |
| Dealing telephone | 0800 085 8571 |
| Sally.Elsbury@Invesco.com | |
| Homepage | https://www.invesco.co.uk/uk |
| Fax number | 01491 416000 |
Dealing
| Minimum Investment | £500 |
| Minimum Top Up | £100 |
| Minimum Regular Saving | £20 |
| Settlement Period: Buy | 3 days |
| Settlement Period: Sell | 3 days |
| Pricing Basis | Forward |
| Dealing Decimals | 2 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
"Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.