On 18 July 2022, Martin Currie (a Franklin Templeton Specialist Investment Manager) announced that Hideo Shiozumi, manager of the FTF Martin Currie Japan Equity fund, would be stepping back from portfolio management responsibilities ahead of his retirement in 2023.  Following this news, the fund no longer features on our Established list and we have removed it from our service.

Change of sub-investment manager

At present, Shiozumi Asset Management Limited is the sub-investment manager of the fund.  Mr Shiozumi is President and Founder of Shiozumi Asset Management and launched the investment strategy that underpins this fund in 1996.  This structure is changing, such that from 23 September 2022, Martin Currie Investment Management Limited will co-manage the fund alongside Templeton Asset Management Limited.

Martin Currie’s new Japan equities team

As part of a strategic review, Martin Currie appointed Reiko Mito as Head of Japan Equity Strategy and Research in August 2022.  She joined the firm from Zurich-based GAM Investments, where she was an Investment Director and co-manager of the GAM Japan Equity and GAM Star Japan Leaders funds.

At Martin Currie, she has joined a newly created Japan equities team, led by Singapore-based Paul Danes.  Mr Danes is an established member of the investment team at the firm and is currently the co-portfolio manager on the Martin Currie Asia Long-Term Unconstrained strategy.  He also has many years of prior experience in Japanese equities.

From 23 September 2022, Mr Danes will be the portfolio manager of FTF Martin Currie Japan Equity and will work closely with Ms Mito on research and idea generation.  They will be supported by the Asia portfolio management team, based in Martin Currie’s Edinburgh office.

Transitioning to the new team

Martin Currie has taken time to consider the transition plan for this fund, bearing in mind Mr Shiozumi’s unwavering record of investing with conviction in strongly growing companies from across the market-cap spectrum, according to long-standing themes.  In appointing Mr Danes and Ms Mito to manage the fund, the intention is to keep the broad investment approach intact and to continue to provide investors in the fund with an unconstrained portfolio of growth companies.  Reinforcing this point, Mr Shiozumi will remain with the firm for the next 12 months in the capacity of senior advisor.

Mr Shiozumi has had a long and distinguished career as a Japanese equity manager and has been in the industry since 1970.  He recognised the potential offered by Japanese companies that were growing quickly and benefiting from structural changes in domestic demand at a time when few others were operating in this space.  We send him our best wishes as he approaches his retirement.