London, July 30, 2026 – Neuberger, a private, independent, employee-owned investment manager, today announced the launch of the Neuberger Japan Equity Fund, a new UCITS vehicle managed by the Japan Equity team led by Keita Kubota. The Tokyo-based team has run the underlying strategy since January 2021.
The fund gives international investors access to a research-driven, bottom-up approach targeting a concentrated portfolio of typically 35 to 65 high-quality Japanese companies across the full market capitalisation spectrum. Kubota, senior portfolio manager and head of Japanese equities, leads a team that collectively brings more than 20 years of experience investing in Japanese equities.
The strategy draws on a proprietary four-pillar scoring model, assessing fundamentals, valuation, sustainability and engagement potential, to identify what the team describes as mispriced, high-quality companies that are run by progressive management looking to achieve sustainable long-term growth. The investment universe covers Japanese-listed companies with the portfolio constructed from a watch list of 80 to 120 names reviewed quarterly.
Many of these businesses are benefiting from global megatrends, but their shares continue to trade at discounts to international peers often due to a combination of weaker corporate governance, inefficiently run balance sheets and poor disclosure. However, thanks to the ongoing reforms and the paradigm shift in the economy, many of these issues are being addressed helping to narrow the valuation gap.
Kubota comments: "Japan's equity market has delivered a strong 18 months, and global investors are seeing the region approach the end of the so-called “lost decades” of deflation. The most compelling part of the opportunity still lies ahead. Growth-focused Prime Minister Sanae Takaichi is leading a new and stable government. Earnings momentum is broadening, governance reform is becoming a direct driver of returns, and capital flows remain well below prior cycle peaks. An all-cap approach is uniquely positioned to capture this transformation in full, providing access not only to well-covered large-cap leaders, but to the dynamic and significantly under-researched mid and small-cap segments where reform adoption is earlier-stage, informational inefficiencies are persistent, and re-rating potential is most pronounced.”
José Cosío, head of global intermediary ex US at Neuberger, adds: "Japan is a market where conviction and patience tend to be rewarded, and we have seen growing appetite from clients for a strategy that goes beyond the index and engages directly with companies. This fund gives them access to a team that has been doing exactly that for years, through a structure that works for them."
Investing in the fund is subject to risk, including but not limited to the following:
Market Risk: The risk of a change in the value of a position as a result of underlying market factors, including among other things, the overall performance of companies and the market perception of the global economy.
Liquidity Risk: The risk that the fund may be unable to sell an investment readily at its fair market value. In extreme market conditions this can affect the fund’s ability to meet redemption requests upon demand.
Concentration Risk: The fund's investments may be concentrated in a small number of investments and its performance may therefore be more variable than the performance of a more diversified fund.
Counterparty Risk: The risk that a counterparty will not fulfil its payment obligation for a trade, contract or other transaction, on the due date.
Derivatives Non-Complex Risk: The Fund is permitted to use certain types of derivative instruments to seek to protect its assets against some of the risks outlined in this section. Their use will create leverage, an investment technique which gives an investor a larger exposure to an asset than the amount it invested. The Fund’s use of leverage may result in greater variations (both positive and negative) in the value of your shares. However, leverage is limited to 100% of the Fund’s assets and the Investment Manager will ensure that the Fund’s use of derivatives does not materially alter the overall risk profile of the Fund. Please refer to the Prospectus for a full list of the types of derivative that the Fund may utilise.
Operational Risk: The risk of direct or indirect loss resulting from inadequate or failed processes, people and systems including those relating to the safekeeping of assets or from external events.
Currency Risk: Investors who subscribe in a currency other than the base currency of the fund are exposed to currency risk. Fluctuations in exchange rates may affect the return on investment. Where past performance is shown it is based on the share class to which this webpage relates. If the currency of this share class is different from your local currency, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency.
About Neuberger
Neuberger is an employee-owned, private, independent investment manager founded in 1939 with approximately 3,000 employees across 26 countries. The firm manages $613 billion of equities, fixed income, private markets, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger's investment philosophy is founded on active management, fundamental research and engaged ownership. The firm is proud to be recognized for its commitment to its two constituents, clients and employees. Again this past year, we were named Best Asset Manager for Institutional Investors in the US (Crisil Coalition Greenwich) and the #1 Best Place to Work in Money Management (Pensions & Investments, firms with more than 1,000 employees). Neuberger has no corporate parent or unaffiliated external shareholders. Visit www.nb.com for more information, including www.nb.com/disclosure-global-communications for information on awards. Data as of June 30, 2026.
Media Contacts:
EMEA: Fiona Kehily: fiona.kehily@nb.com
Amie McCart: amie.mccart@nb.com