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Top Trumps: Japanese small/mid cap – 12 June 2026

This week, FSA provides a quick comparison of two Japanese small cap equity funds: PineBridge Japan Small Cap Equity and Janus Henderson Horizon Japanese Smaller Companies.

Source: FE Fundinfo. All relevant fund data converted to US dollars for comparative purposes. Performance, alpha and volatility are annualised over three years with data as reported at the end of last month. Information ratio (IR) aims to measure a portfolio manager’s consistent ability to generate excess returns relative to a benchmark. The higher the IR, the more consistent the manager is.

Based on the popular 80s card game, each week we select an asset class and use FE fundinfo data to compare two funds based on their three-year performance, assets under management, alpha, volatility, ongoing charges and information ratio to decide which is the Top Trump.

This week, Janus Henderson defeats PineBridge 4-2.

Janus Henderson Horizon Japanese Smaller Companies

The fund invests in a concentrated portfolio of small capitalisation companies, in any industry, in Japan or derive a significant portion of their revenues from Japan. It invests in the smallest 25% of listed Japanese companies by market capitalisation.

Top 10 holdings:

Toyo Gosei  

Harmonic Drive Systems    

Taikisha         

Denka

Koa     

Kanto Denka Kogyo   

Park 24             

GMO Financial             

Septeni              

Menicon           

PineBridge Japan Small Cap Equity Fund

This fund invests in small Japanese companies, i.e. companies incorporated in Japan or companies whose assets, products or operations are in Japan. At least 50% of the fund’s investments will be in stocks with a market capitalisation at the time of acquisition is less than JPY 400 billion.

Top 10 holdings:

Meiko Electronics Co., Ltd.

BuySell Technologies Co., Ltd.

M&A Capital Partners Co., Ltd.

JSB Co., Ltd.

Zenkoku Hosho Co., Ltd.

Maeda Kosen Co., Ltd.

Ain Holdings Inc.

Nissei ASB Machine Co,. Ltd.

Raito Kogyo Co., Ltd.

ULVAC, Inc.

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