Fund Objective The investment objective of the Fund is to achieve medium to long term capital appreciation. The Fund invests primarily in equities listed on the Singapore Exchange Securities Trading Limited that offer attractive and sustainable dividend payments with the potential for long term capital appreciation and may also invest in non-Straits Times Index (FTSE STI) component stocks as well as equities listed outside of Singapore with similar characteristics. The Fund does not have a reference benchmark as it is managed on a total return basis pursuant to its investment objective and as such, may not seek to outperform any benchmark. Fund Documents Brochure

Fund Objective The investment objective of the Fund is to provide a total return of capital growth and income over the medium to long term by investing in equity investments listed and traded on the Tokyo Stock Exchange The Fund's investment focus is to invest in a diversified portfolio of dividend producing equity investments listed and traded on the Tokyo Stock Exchange that offer attractive and sustainable dividends from companies with relatively strong sustainable cash flows, stable growth and stable dividend payout. The Fund will be actively managed and may allocate up to 30% of its NAV to cash to manage any downside market fluctuations. (Please note that for the Hedged Classes, the Managers intend to mitigate currency risk by hedging the currency exposure of the assets of the Fund th

Watch Kenneth Tang, Senior Portfolio Manager of Asian Equity, as he shares how he manages the Nikko AM Shenton Thrift Fund and reasons why investors should consider investing in the Fund. Important information: This video is prepared by Nikko Asset Management Co., Ltd. and/or its affiliates (Nikko AM) and is for distribution only under such circumstances as may be permitted by applicable laws. This video does not constitute personal investment advice or a personal recommendation and it does not consider in any way the objectives, financial situation or needs of any recipients. All recipients are recommended to consult with their independent tax, financial and legal advisers prior to any investment. This video is for information purposes only and is not intended to be an offer, or a solicit

20 September 2024 Exploring the trade, economic and geopolitical implications Asian Equity Team Pricing in risks associated with trade and protectionism, geopolitics US President Joe Biden’s faltering performance at the 27 June presidential debate and subsequent gaffe at the North Atlantic Treaty Organization (NATO) Summit press conference stoked growing concerns among Democrats over his ability to beat Donald Trump at the polls. His subsequent decision to withdraw from the race and pass the torch to Vice President Kamala Harris left party supporters rushing to reset campaign strategy. On the other side, the Republican camp overwhelmingly endorsed Trump as their presidential candidate. With this in mind, a second term in the White House for the business mogul is a possibility, unless there

28 August 2024 Exploring hidden opportunities amid a push for more active cash use Yu Sato, Lead Portfolio Manager Japan, a nation of “cash-rich” companies, is undergoing corporate reforms aimed at raising valuation of companies by improving their capital efficiency. This includes leveraging existing corporate savings for shareholder distribution and investing for future growth. The reforms, along with cash-rich companies' historical outperformance and strategic options due to their ample cash holdings, make these firms well worth exploring. A country of cash-rich companies With its firms having held a higher amount of savings than those in other developed economies over the past three decades (Chart 1), Japan can be described as a country of “cash-rich” companies. As with many aspects of

Why they warrant the attention of global investors Grace Yan, Senior Portfolio Manager, Asian Equity 22 July 2024 South Korea’s “indie[1]” cosmetics brands: vibrant alternative to large conglomerates It’s no secret that the global beauty industry has come to be dominated by smaller South Korean players.  The “hallyu” wave, also known as the Korean wave, started in the 1990s and ignited the global popularity of South Korean culture and entertainment. Today, this includes beauty trends, blazing a trail across the world with their “K-beauty” skincare and cosmetic products. Terms like “glass skin” have become established globally among the beauty-conscious, along with the 10-step skincare routine prescribed to achieve the hydrated, ‘glowy’ look. South Korea may be known for its large cong

27 Jun 2024 Kenneth Tang Senior Portfolio Manager, Asian Equity Singapore recently had its first leadership change in 20 years. What does this mean for the Singapore market? Watch Kenneth Tang as he provides 3 key takeaways. Important information: This video is prepared by Nikko Asset Management Co., Ltd. and/or its affiliates (Nikko AM) and is for distribution only under such circumstances as may be permitted by applicable laws. This video does not constitute personal investment advice or a personal recommendation and it does not consider in any way the objectives, financial situation or needs of any recipients. All recipients are recommended to consult with their independent tax, financial and legal advisers prior to any investment. This video is for information purposes only and is not

By Gerald Wong, CFA, Beansprout 26 Jun 2024 7 min read We compare bond ETFs to Singapore T-bills to find out if they are a good complement for investors looking to earn an attractive yield. This post was created in partnership with Nikko Asset Management Asia Limited. All views and opinions expressed in this article are Beansprout's objective and professional opinions. What happened? Demand for T-bills has been very strong recently.  Applications for the 6-month T-bill reached a record high of S$16.0 billion in the auction on 11 April, as the yield on the T-bill remained elevated.  At the same time, investors regained confidence tha

by Timothy Ho, Dollars and Sense June 13, 2024 By adding a bond exposure, we can improve the resilience of our portfolios while still maintaining our returns. This article was written in collaboration with Nikko Asset Management. All views expressed in this article are the independent opinion of DollarsAndSense.sg based on our research. DollarsAndSense.sg is not liable for any financial losses that may arise from any transactions and readers are encouraged to do their own due diligence. You can view our full editorial policy here. In the investment world, stocks often command more attention compared to bonds. T

SG Budget Babe June 13, 2024 11 minute read Based off recent market sentiments, the current bond market has been distressing for some investors. But if you think that’s a reason to strike off bonds (or bond ETFs) completely, think again. The past few years have been challenging for bond investors as central banks rapidly raised interest rates, which created uncertainty and volatility for both equities and particularly for long-term bonds. After decades of very low yields, the Federal Reserve embarked on a very rapid rate hiking program in March 2022, moving the Fed Funds rate from nearly zero to over 4% in just nine months. This had an impact on the bond market, and the losses have been worse for holde

9 May 2024 Watch our Global Strategist, Naomi Fink as she shares in a 1-minute video, interesting takeaways from her recent insights titled "Investing in Japan - an insider's perspective with Naomi Fink" Interview with Naomi Fink, Global Strategist at Nikko Asset Management Naomi Fink, Global Strategist, Nikko Asset Management Naomi Fink recently joined Nikko Asset Management as a Global Strategist based in Tokyo. We sat down with Naomi to discuss her personal relationship with Japan, and to hear her views on arguably the most talked-about investment region in the world at present. Tell us about your role as Global Strategist with Nikko AM, and your return to Tokyo. I chair the Global Investment Committee, and my role also involves developing investment insights and strategic guidance for

4 April 2024 Asian Equity Team Watch snippets from the related Insights article titled “Prospect of lower rates makes Asian REITs an increasingly vibrant asset class” Important information: This video is prepared by Nikko Asset Management Co., Ltd. and/or its affiliates (Nikko AM) and is for distribution only under such circumstances as may be permitted by applicable laws. This video does not constitute personal investment advice or a personal recommendation and it does not consider in any way the objectives, financial situation or needs of any recipients. All recipients are recommended to consult with their independent tax, financial and legal advisers prior to any investment. This video is for information purposes only and is not intended to be an offer, or a solicitation of an offer, to

Nikko AM Shenton Emerging Enterprise Discovery Fund highlights 22 March 2024 Watch Grace Yan, Senior Portfolio Manager of Asian Equity, who manages this award-winning fund as she shares with us on how investing in stocks of Asia ex-Japan smaller companies can be advantageous to an investors’ portfolio. Important information: This video is prepared by Nikko Asset Management Co., Ltd. and/or its affiliates (Nikko AM) and is for distribution only under such circumstances as may be permitted by applicable laws. This video does not constitute personal investment advice or a personal recommendation and it does not consider in any way the objectives, financial situation or needs of any recipients. All recipients are recommended to consult with their independent tax, financial and legal advisers p

Naomi Fink, Global Strategist 28 March 2024 Excerpts from related insights article titled “BOJ takes significant yet incremental step on path back to “normal” rates” Important information: This video is prepared by Nikko Asset Management Co., Ltd. and/or its affiliates (Nikko AM) and is for distribution only under such circumstances as may be permitted by applicable laws. This video does not constitute personal investment advice or a personal recommendation and it does not consider in any way the objectives, financial situation or needs of any recipients. All recipients are recommended to consult with their independent tax, financial and legal advisers prior to any investment. This video is for information purposes only and is not intended to be an offer, or a solicitation of an offer, to

End of negative rates, yield curve control and ETF purchases smoothly digested Naomi Fink, Global Strategist 29 March 2024 The “trial balloons” of media announcements in advance of today’s interest rate hike by the Bank of Japan (BOJ) —its first in 17 years—apparently did their job, as the end of its negative interest rate policy, yield curve control (YCC)[1] and ETF purchases were smoothly digested by markets. Indeed, the BOJ had already embraced greater flexibility on YCC and has significantly decreased its ETF purchases well prior to the policy decision. Neither the yen nor the Nikkei showed extraordinary movements, and Japanese Government Bond (JGB) 10-year yields so far remain contained below 80 basis points (bps). In prior speeches (e.g. Deputy Governor Shinichi Uchida’s much talked-

Future Quality in a changing world. 20 December 2023 Global Equity Team Watch our Global Equity Outlook 2024 video below: Financial regulators like to say that past investment performance is no clear indicator of future performance. Yet, we investors often look to the past to glean an indication of what future market conditions may be like. There are often patterns that can be exploited or traps that may be avoided. As we head into 2024, however, the past may not provide the usual useful insights. From a macro perspective, central banks’ experimentation with quantitative easing—which provided relatively benign market conditions since the Global Financial Crisis—is being unwound and this “quantitative tightening” is new territory for policymakers and investors. At the same time, we seem to

Focus on growth pockets, quality opportunities and earnings resilience. 13 December 2023 Asian Equity Team Watch our ASEAN Equity Outlook 2024 video below: ASEAN well placed for growth in 2024 Global monetary tightening and the dollar’s exceptional strength stood out in 2023, and these factors were a major headwind for most emerging markets including ASEAN. In our view, focus in 2024 will shift from interest rate tightening towards growth, or more specifically, finding pockets of growth amid a slowing global economy. We expect ASEAN to perform relatively well as the region, in our view, possesses a relatively stronger growth narrative and a more accommodative policy backdrop.  ASEAN’s growth as a region is poised to edge up from an estimated 4.0% in 2023 to 4.5% in 2024*. Though incre