MAB-Quarterly-Review-Q2-2025-Adventurous - Flipbook - Page 13
Facts behind the fund
The Neuberger Berman Japan engagement strategy seeks attractive returns through stock selection and
active engagement with Japanese small/mid-cap companies in which the fund invests. Engagement means
working closely with company management to offer ideas on how they can improve and grow the business in
the future. With diverse experience as well as deep knowledge in engagement on 昀椀nancially material issues
including ESG, the team also seeks to generate additional value by offering insights and knowledge sharing
with portfolio companies.
Formed in 2019, the Japanese Equity Team is led by Keita Kubota, who is also the lead portfolio manager.
Keita, along with Kei Okamura, Hiroaki Misawa, and Zui Shiromoto, brings deep experience in Japanese
equities, with much of the team having previously worked together at Aberdeen Asset Management. This
longstanding working relationship, underpinned by shared values and a consistent investment philosophy,
fosters a cohesive and highly collaborative team dynamic.
The team follows a bottom-up, fundamentally driven approach to stock selection, with a strong emphasis
on company quality, long-term earnings power, and sustainable value creation. Their investment research
is enhanced by access to Neuberger Berman’s global resources, including the Global Equity Research
Department, which comprises over 50 professionals, and a dedicated Global Sustainable Equity Team. This
gives them meaningful insight into global market dynamics and ESG risks - a key differentiator when investing
in Japan, where corporate governance continues to evolve.
A key element of the team’s philosophy is active engagement, particularly around corporate governance an area where Japan has seen signi昀椀cant progress over the last decade. Following the introduction of the
“Abenomics” agenda under former Prime Minister Shinzō Abe, Japan has steadily implemented reforms aimed
at making companies more ef昀椀cient, transparent, and shareholder focused. The Neuberger Berman team plays
a proactive role in this evolution. Through ongoing, thoughtful engagement with company management
teams, they push for improvements in capital allocation, board independence, and return of excess capital to
shareholders, all of which should enhance fund returns. Their local presence and longstanding relationships
provide access to key decision-makers, enabling meaningful dialogue and change.
While Japanese equities remain underrepresented in many global investors’ portfolios, this team’s ability
to uncover idiosyncratic, high-quality opportunities through disciplined research and active engagement is
precisely the kind of approach we believe can unlock long-term value in Japan. In a market that is often
inef昀椀cient and poorly researched - particularly among small- and mid-sized companies - having a local,
experienced team that actively drives change in companies is the key to unlock long-term returns.
Since investment chart vs benchmark
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