Perennial Japanese Equities Trust - Managed Fund (Closed)

Fund Objective

To grow the value of your investment over the long term by investing in a carefully selected portfolio of Japanese shares and to provide a total return (after fees) that exceeds the return of the MSCI Japan Accumulation Index unhedged on a rolling three-year basis.

Fund Strategy

The Trust invests predominantly in Japanese shares and securities. The Trust aims to add value by focusing on what Perennial International, the investment manager, considers to be well managed companies, with quality earnings potential and long-term growth prospects, which have been ignored by investors because of short-term concerns about market direction.

Fund Performance Comparison

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Peers

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The performance of the peers is calculated as the total of the performance for each time period for all the funds in the peer group, divided by the number of funds in the peer group.

Fees Comparison

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NOTE: Fee data has been provided by Morningstar, it may not include all costs being charged on your investment such as platform and adviser fees. You should check your fund manager or adviser statements to find out the exact fees you are being charged. Peers are funds that use the same benchmark in the Morningstar database.

Fund performance

	1M	3M	6M	1Y p.a.	2Y p.a.	3Y p.a.	5Y p.a.	10Y p.a.
Total return	-11.68%	-8.66%	-4.97%	-11.28%	-8.82%	-10.62%	-14.57%	-%
Growth return	-11.68%	-8.66%	-4.97%	-11.28%	-11.1%	-12.12%	-17.03%	-%
Income return	0%	0%	0%	0%	2.28%	1.5%	2.46%	-%
Market index (MSCI Japan NR USD)
Total return	0.54%	3.23%	11.51%	24.6%	16.17%	17.54%	6.6%	7.62%

As at 31 Mar 2011. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

Perennial Japanese Equities Trust

International Equities: 100%

Cash: 0%

Property & Infrastructure: 0%

Average Allocation of Peers

International Equities: 99.42%

Cash: 0.54%

Property & Infrastructure: 0.04%

General Information

Fund Details

Type	Description
Fund Name	Perennial Japanese Equities Trust
Fund Status	Closed
Responsible Entity	IOOF Investment Management Limited
APIR Code	IOF0116AU
Sector/Asset Class	Equity Japan
Morningstar Rating	(as at 31 Mar 2011)
Legal Structure	Investment Fund
Fund Inception	15 Jun 2001
Fund Size	$0.17 million (as at 31 Mar 2011)
Entry Price	$0.5113 (as at 1 Apr 2011)
Exit Price	$0.5063 (as at 1 Apr 2011)
Fund Status	Finalised

Offer information

Type	Description
Indirect Cost Ratio (ICR)	1.32% (as at 30 Jun 2011)
Performance fee (not included in ICR)	0
Minimum initial investment	$25,000
Minimum additional investments	$5,000.00
Minimum redemption amount	$5,000.00

Top 10 holdings (as at 31 Dec 2010)

Holding (as at 31 Dec 2010)	Type	% of Portfolio
Isuzu Motors Ltd.	Stock	6.85%
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FAQs about the Perennial Japanese Equities Trust

What is the objective of the Perennial Japanese Equities Trust managed fund?

The objective of the Perennial Japanese Equities Trust managed fund is To grow the value of your investment over the long term by investing in a carefully selected portfolio of Japanese shares and to provide a total return (after fees) that exceeds the return of the MSCI Japan Accumulation Index unhedged on a rolling three-year basis.

What is the strategy for the Perennial Japanese Equities Trust managed fund?

The strategy of the Perennial Japanese Equities Trust managed fund is The Trust invests predominantly in Japanese shares and securities. The Trust aims to add value by focusing on what Perennial International, the investment manager, considers to be well managed companies, with quality earnings potential and long-term growth prospects, which have been ignored by investors because of short-term concerns about market direction.

What is the APIR code of the Perennial Japanese Equities Trust managed fund?

The APIR code of the Perennial Japanese Equities Trust managed fund is IOF0116AU.

What was Perennial Japanese Equities Trust’s total return last month?

Perennial Japanese Equities Trust’s total return last month was -11.68%. This was made up of a growth return of -11.68% and an income return of 0%. These returns were calculated as at 31 Mar 2011.

What was Perennial Japanese Equities Trust’s total return for the last three months?

Perennial Japanese Equities Trust’s total return for the last three months was -8.66%. This was made up of a growth return of -8.66% and an income return of 0%%. These returns were calculated as at 31 Mar 2011.

What is Perennial Japanese Equities Trust’s one-year total return?

Perennial Japanese Equities Trust’s one-year total return is -11.28%. This was made up of a growth return of -11.28% and an income return of 0%. These returns were calculated as at 31 Mar 2011.

What is Perennial Japanese Equities Trust’s three-year total return?

Perennial Japanese Equities Trust’s one-year total return is -10.62%. This was made up of a growth return of -12.12% and an income return of 1.5%. These returns were calculated as at 31 Mar 2011.

What is the asset allocation of the Perennial Japanese Equities Trust managed fund?

The asset allocation of the Perennial Japanese Equities Trust managed fund is :

International Equities: 100%

Cash: 0%

Property & Infrastructure: 0%

Who is the responsible Entity of the Perennial Japanese Equities Trust managed fund?

The Responsible Entity for the Perennial Japanese Equities Trust managed fund is IOOF Investment Management Limited.

What sector/asset class does the Perennial Japanese Equities Trust managed fund belong to?

The Perennial Japanese Equities Trust managed fund belongs to the Equity Japan sector/asset class.

What is the size of the Perennial Japanese Equities Trust managed fund?

As at 31 Mar 2011, the size of the Perennial Japanese Equities Trust managed fund was $0.17 million.

What is the inception date of the Perennial Japanese Equities Trust managed fund?

The Perennial Japanese Equities Trust managed fund has an inception date of 15 Jun 2001.

What is the current entry price of the Perennial Japanese Equities Trust managed fund?

The current entry price of the Perennial Japanese Equities Trust managed fund is $0.5113 per unit and the current exit price is $0.5063 per unit (as at 1 Apr 2011).

What is the current exit price of the Perennial Japanese Equities Trust managed fund?

The current exit price of the Perennial Japanese Equities Trust managed fund is $0.5063 per unit and the current entry price is $0.5113 per unit (as at 1 Apr 2011).

What is the minimum investment amount for the Perennial Japanese Equities Trust managed fund?

The minimum initial investment amount for the Perennial Japanese Equities Trust managed fund is $25,000. Minimum additional investment is $5000.

Fund data sourced from Morningstar. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). Data and content is provided for personal use only. Whilst every care has been taken in producing these numbers, neither Morningstar nor InvestSMART can make any guarantees around the complete accuracy of these figures. Should you decide to change investments, please read all relevant disclosure documents including the Product Disclosure Statements and if required, you may consider speaking to a financial professional for further guidance. A tax event may be realised as a result of switching investments. Past performance is not a reliable indicator of future performance.

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