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Boutique launches fund to exploit 'astonishing' Japan

Boutique launches fund to exploit 'astonishing' Japan

Goodhart Partners has launched a Japanese Ucits fund to capitalise on the ‘astonishing’ price inefficiency that persists despite the country’s recent rally.

The Michinori fund, which goes live in the next few weeks, is a more liquid version of the specialist firm’s top performing $50 million Hanjo fund, a Sicav that focuses on small and micro cap companies in Japan.

The Hanjo fund has returned 83.15% over one year, according to Bloomberg.

‘Japan has been ignored by most people for so long that the inefficiency in pricing is astonishing,’ Goodhart chief executive Alan Bartlett said.

Michinori is run using a diversified strategy, and overlaps approximately 30% of its holdings with the Hanjo fund. Both are managed by Sean Lenihan, who lived in Japan for 25 years.

Bartlett said several wealth management firms were already on board with the new fund after finding it difficult to invest in Hanjo due to liquidity issues.

Minimum investment in the fund is $0.5 million, and capacity could go up to an estimated $1 billion. The fund has a flat fee of 125 basis points.

London-based Goodhart is a privately owned business, which was founded in 2009 and controls around $500 million (£305 million) in assets.  

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Profile: The opportunity set that attracted Brett Williams to wealth management

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