The £64m JPM Japan Fund will be managed by Robert Lloyd alongside the $158m JF Japan Sicav that he runs with co-manager Aisa Ogoshi as well as a number of segregated mandates.
He will pick up a fund that has had a poor past 12 months, losing 14% in the past year compared to the IMA Japan sector average of -0.81% and its benchmark, the Tokyo Stock Price Index, of -2.81%.
Looking further out and its three-year return is -2%m which is broadly in line with the IMA sector of –close to 1% though it has a volatility of 14.74% over the same period.
Mitchinson has left to “pursue other opportunities” with Lloyd taking over the fund with immediate effect.
