First State Global Umbrella Fund PLC - First State Japan Equity Fund Accum-III- USD


The FFSA Japan Equity Fund is a single-country equities Fund that focuses on the long-term capital appreciation and has generated excellent performance since its inception in 2016.

The fund follows First Sentier's signature investment philosophy and investing in quality businesses with defendable franchises after undertaking intensive fundamental research. Excellent performance and robust, active returns, providing excellent value for investors compared with the fees paid. A clear explanation of challenges and opportunities and a consistent team.

A good explanation was given on how the Manager navigated the COVID-19 market turmoil with active portfolio management to manage risk and performance by sticking with high conviction holdings and adding positions in companies on its watch list as value emerged

The committee is impressed by the fund's ESG integration, performance, and downside protection. The examples were insightful to illustrate its investment process. ESG practices are highly developed, ranging from preventing the fund from investing in harmful industries to full integration into the research and analysis process. Stewardship practices are exemplary, with over 1,600 company meetings a year and clear messaging on ESG to impart best practices, including a focus on company supply chains.

This fund has been reviewed by three industry veterans of the Benchmark judging committee.

House Awards: Japan Equity
Hong Kong – Best-In-Class
Singapore – Best-In-Class
Taiwan – Best-In-Class


Inception Date: 02/02/2015
AUM: USD 438014094.52
Manager Name: Sophia Li, 02/02/2015; Martin Lau, 02/02/2015
Total Expense Ratio: –
3-Yr Return: 50.67%
3-Yr Max Drawdown: -19.64%

ESG Score: 58.14
GC Score: 51.30
Near-Term Score(<=2°C): 50.48%
Business Involvement:
Alcohol Involvement: 2.71%, …

Investment Style Consistency: 1.00
Environmental Consequence: 5.00
Stewardship – Engagement: 4.44

Contact Details:

Company Website:

Name: Christy Goh

Title: Director, Intermediary Business, South East Asia

Contact Number: +65 6580 1353

Email Address:

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