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Comgest merges star managers' Japan funds

Comgest merges star managers' Japan funds

French asset management group Comgest has merged its two Japan equity funds, the company has announced.

The France-domiciled Comgest Japan fund will merge into the Dublin-domiciled Comgest Growth Japan fund. They are both managed by Citywire AA-rated Chantana Ward, A-rated Richard Kaye and Makoto Egami.

On 21 April 2017, all assets and liabilities were transferred from the Comgest Japan fund, with investors in the absorbed fund being issued with new shares. The fund will continue to focus on quality long-term growth companies based or operating in Japan.

The combined vehicle sits at €284 million (¥33,339), investors will be able to access the US dollar, pound and euro-denominated share classes of the fund, offered as either hedged or unhedged by the Dublin strategy.

Commenting on the merger, Comgest’s CEO and CIO, Arnaud Cosserat, said: ‘The merger of our two Japan funds is in line with our strategic approach to enhance Comgest’s international offering. The combined fund, with its larger AUM, will allow better access for our investors, many of whom operate with strict fund ratios to maintain.

‘Likewise, the range of currency-hedged share classes offered by our Dublin fund enables investors to mitigate the impact of Yen currency fluctuations in a region that we believe continues to be an attractive proposition for long-term, quality growth investment.’

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