RMB Japan Fund

RMBPX

$52.3M

AUM as of 06/30/2021

1.33%

Expense Ratio as of 05/01/2021

74968B852

CUSIP

0.00%

Maximum Sales Charge

12/27/2017

Inception Date

Investment Philosophy  

The Fund seeks capital appreciation. The Fund pursues its goal by investing, under normal conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of Japanese companies.

The Fund primarily invests in equity securities, including common stocks, preferred stocks, warrants and other rights, and securities convertible into or exchangeable for common stocks. The Fund may invest in companies of any size. The portion of the Fund’s assets invested in small, medium, or large companies is expected to vary over time. The Fund will target a balanced approach with allocations across the market capitalization spectrum.

The Adviser uses a fundamental, bottom-up research approach. Fundamental analysis includes evaluation of management teams and shareholder structure, and examination of competitive positioning and industry dynamics, including pricing power, stable free cash flow, and barriers to entry. The Fund will seek to buy companies when the Adviser believes the companies have a sustainable competitive advantage, strong free cash flow, and reasonable valuations relative to their long-term potential. The Fund will sell securities when they are no longer trading below their intrinsic value, when the Adviser believes there has been a deterioration in the company’s fundamentals and/or a change in the company’s business outlook, or when a better use of capital presents itself.

 

Investment Approach    

  • Seek companies with strong management, sound financial practices, and a defensible business niche
  • Focus on firms with sustainable growth in earnings, revenue, and cash flow
  • Identify undervalued equities that are temporarily mispriced relative to their long-term potential and where their stock prices reflect reasonable valuations

Performance

Portfolio Characteristics

As of 03/31/2021

Turnover Ratio

Turnover Ratio or Turnover Rate is the percentage of a mutual fund or other portfolio's holdings that have been replaced in a 12-month period.

61.99%

Weighted Average Market Cap

Weighted Average Market Capitalization refers to a type of stock market index construction that is based on the market capitalization of the index's constituent stocks; large companies would, therefore, account for a greater portion of an index than smaller stocks.

$42,082M

Active Share

Active Share is a measure of the percentage of stock holdings in a manager's portfolio that differs from the benchmark index.

71.88%

Standard Deviation

Standard Deviation is a statistic that measures the dispersion of a dataset relative to its mean. The standard deviation is calculated as the square root of variance by determining each data point's deviation relative to the mean. If the data points are further from the mean, there is a higher deviation within the data set; thus, the more spread out the data, the higher the standard deviation.

16.22%

Beta vs. Benchmark

Beta is a measure of a stock's volatility in relation to the overall market. If a stock moves less than the market, the stock's beta is less than 1.0. High-beta stocks are supposed to be riskier but provide higher return potential; low-beta stocks pose less risk but also lower returns.

1.08

Top Ten Holdings View full list of holdings

As of 06/30/2021

Top Ten Holdings Top Ten Holdings Circle Graph Shionogi & Co. Ltd. 4.78% Chart segment spanning Shionogi & Co. Ltd.% of the whole. 112.99598191863 Chart segment spanning 87.995981918634% of the whole. Mitsubishi UFJ Financial Group Inc. 4.76% Chart segment spanning Mitsubishi UFJ Financial Group Inc.% of the whole. 101.04218985434 Chart segment spanning 76.042189854345% of the whole. Sony Corp. 4.73% Chart segment spanning Sony Corp.% of the whole. 89.163736815671 Chart segment spanning 64.163736815671% of the whole. Subaru Corp. 4.51% Chart segment spanning Subaru Corp.% of the whole. 77.837769964842 Chart segment spanning 52.837769964842% of the whole. Mitsui Fudosan Co. Ltd.  3.75% Chart segment spanning Mitsui Fudosan Co. Ltd. % of the whole. 68.420391762933 Chart segment spanning 43.420391762933% of the whole. Hitachi Ltd. 3.66% Chart segment spanning Hitachi Ltd.% of the whole. 59.22903063787 Chart segment spanning 34.22903063787% of the whole. Yakult Honsha Co. Ltd.  3.62% Chart segment spanning Yakult Honsha Co. Ltd. % of the whole. 50.138121546961 Chart segment spanning 25.138121546961% of the whole. Shin-Etsu Chemical Co. Ltd.  3.50% Chart segment spanning Shin-Etsu Chemical Co. Ltd. % of the whole. 41.348568558513 Chart segment spanning 16.348568558513% of the whole. Isuzu Motors Ltd. 3.26% Chart segment spanning Isuzu Motors Ltd.% of the whole. 33.161727774987 Chart segment spanning 8.1617277749874% of the whole. Murata Manufacturing Co. Ltd.  3.25% Chart segment spanning Murata Manufacturing Co. Ltd. % of the whole. 25 Chart segment spanning -7.105427357601E-15% of the whole.

Number of Holdings

37

% in Top Ten Holdings

39.83%

Total Fund AUM

$52.3M

Sector Weights

As of 03/31/2021

Sector Weights Sector Weights Circle Graph Industrials 21.08% Chart segment spanning Industrials% of the whole. 103.58594067452 Chart segment spanning 78.585940674523% of the whole. Consumer Discretionary 15.60% Chart segment spanning Consumer Discretionary% of the whole. 87.738724095896 Chart segment spanning 62.738724095896% of the whole. Information Technology 15.40% Chart segment spanning Information Technology% of the whole. 72.094676960585 Chart segment spanning 47.094676960585% of the whole. Communication Services 12.45% Chart segment spanning Communication Services% of the whole. 59.447379114181 Chart segment spanning 34.447379114181% of the whole. Health Care 9.94% Chart segment spanning Health Care% of the whole. 49.34985778139 Chart segment spanning 24.34985778139% of the whole. Consumer Staples 7.89% Chart segment spanning Consumer Staples% of the whole. 41.334823242584 Chart segment spanning 16.334823242584% of the whole. Financials 7.88% Chart segment spanning Financials% of the whole. 33.329947175945 Chart segment spanning 8.3299471759447% of the whole. Materials 5.19% Chart segment spanning Materials% of the whole. 28.057700121902 Chart segment spanning 3.0577001219017% of the whole. Real Estate 3.01% Chart segment spanning Real Estate% of the whole. 25 Chart segment spanning 1.0658141036402E-14% of the whole. Utilites 0.00% Chart segment spanning Utilites% of the whole. 25 Chart segment spanning 1.0658141036402E-14% of the whole.

Life Cycle Learn more about this approach

As of 03/31/2021

Rockets

Golden Goodies

Falling Angels

Corks

Turn Arounds

40%

30%

20%

10%

0%

Documents

RMB Japan Fund Materials

Archive

 

 

The Funds’ investment adviser, RMB Capital Management, LLC, has adopted a contractual expense limitation agreement for each Fund through April 30, 2022, reducing the applicable Fund’s operating expenses so that the Fund’s total return and yield is increased. This may be continued from year to year thereafter if agreed upon by all parties. In the absence of such waivers and/or reimbursements, the applicable Fund’s total return and yield would be lower.

Principal Risks
As with any mutual fund, there is no guarantee that the Fund will achieve its objective. The Fund’s share price fluctuates, which means you could lose money by investing in the Fund. The Fund is not a complete investment program and should be considered only as part of an investment portfolio. The principal risks of investing in the Fund are detailed in the Summary Prospectus.

Index Definition

  • The MSCI Japan Index is designed to measure the performance of the large- and mid-cap segments of the Japanese market. With approximately 320 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in Japan. The index does not reflect investment management fees, brokerage commissions, or other expenses associated with investing in equity securities. A direct investment in an index is not possible. Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or f ina ncial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.