Atlantis Japan Growth Fund - Improved performance under new lead adviser

Atlantis Japan Growth Fund (AJG) aims to generate long-term capital growth from a diversified portfolio of primarily mid- and small-cap Japanese equities. In 2016, in response to shareholder concerns, which included the trust’s investment performance, the board appointed deputy fund adviser Taeko Setaishi to the position of lead fund adviser. Since then, AJG’s performance has improved. The trust has outperformed its TOPIX benchmark over one, three, five and 10 years, and is the best-performing fund, out of four, in the AIC Japanese Smaller Companies sector over one year. Given the improving economic backdrop in Japan and relatively attractive company valuations, Setaishi is positive on the outlook for Japanese equities and she continues to find interesting growth opportunities across a variety of sectors.