# Investment Performance (% net of fees) in JPY
Cumulative (%)	Annualised (% p.a.)
Index	MSCI Japan Index
Total net assets	¥ 5.1 billion
Structure	Luxembourg SICAV
Charges (%)	
CLASS I
Ongoing Charges0.94
Max Entry Charge3.00
Management Fee0.75
Entry Charge is a maximum possible figure. In some cases you might pay less, you can find this out from your financial adviser. Ongoing Charges reflect the payments and expenses incurred during the fund's operation and are deducted from the assets of the fund over the period. It includes fees paid for investment management (Management Fee), trustee/custodian, and administration charges. For more information please see the Charges and Expenses section of the prospectus.
Subscriptions (USD)	
CLASS I
Minimum subsequent Investment0
Minimum initial investment0
|  | 1 M | 3 M | YTD | 1 YR |  | 3 YR 5 YR 10 YR | INCEPTION |  | (3 Year Annualised) | CLASS I | INDEX |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Class I Shares | 0.56 | 1.53 | -1.66 | 5.69 |  | 7.48 4.69  7.99 | 7.82 |  | Excess Return (%) | -0.96 | -- |
| MSCI Japan Index | -1.16 | -2.98 | -6.12 | 2.70 |  | 8.44  6.75 10.49 | 9.79 |  | Alpha (%) | -1.49 | -- |
|  |  |  |  |  |  |  |  |  | Beta | 1.06 | 1.00 |
| Calendar Year Returns (%) | 2021 2020 2019 | 2018 | 2017 | 2016 2015 2014 | 2013 | 2012 |  | Information ratio | -0.17 | -- |
| Class I Shares | 15.73  0.77 16.21 | -20.75 | 20.38 | -1.60 8.83  3.35 | 52.31 | 20.09 |  | R squared | 0.89 | 1.00 |
| MSCI Japan Index | 13.44  8.76 18.48 | -15.15 | 19.75 | -0.74 9.93 9.48 | 54.58 | 21.57 |  | Tracking error (%) | 5.68 | -- |
| All performance data is calculated NAV to NAV, net of fees, and does not take account of commissions and costs incurred on the issue and redemption of units. The sources for all | Volatility (Standard deviation) (%) | 17.21 | 15.32 |
| performance and Index data is Morgan Stanley Investment Management. | Down-capture ratio (%) | 111.66 | 100.00 |
| The value of the investments and the income from them can go down as well as up and an investor | Up-capture ratio (%) | 105.79 | 100.00 |

Translation (ENFR, 2022-02-28):
# Performances des investissements (en %, nettes de frais) en JPY
Cumulatif (%)	Annualisé (% p.a.)
DEPUIS LE
Indice de référence	MSCI Japan Index
Total de l’actif	¥ 5,1 milliard(s)
Structure	Luxembourg SICAV
Frais (%)	
CLASSE I
Droits d’entrée max	3,00
Frais courants	0,94
Frais de gestion	0,75
Le montant indiqué des droits d’entrée est le maximum possible. Dans certains cas vous pourrez payer moins ; votre conseiller financier peut vous aider à déterminer ce montant. Les frais courants reflètent les payements et frais engagés lors du fonctionnement du fonds et sont déduits des actifs du fonds pour la période. Ils incluent les commissions et frais de gestion, de fiducie/dépôt et d’administration. Pour de plus amples informations, veuillez consulter la section sur les charges et les frais associés du Prospectus.
Souscriptions (USD)	
CLASSE I
Investissement suivant minimum0
Investissement initial minimum0
| Classe I Parts | 0,56 | 1,53 | -1,66 | 5,69 | 7,Ł8 | Ł,69 | 7,99 | 7,82 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| MSCI Japan Index | -1,16 | -2,98 | -6,12 | 2,70 | 8,ŁŁ | 6,75 | 10,Ł9 | 9,79 |
| Performances calendaires (%) | 2021 2020 | 2019 | 2018 | 2017 2016 2015 2014 | 2013 | 2012 |
| Classe I Parts | 15,73 0,77 | 16,21 | -20,75 | 20,38 -1,60 8,83  3,35 | 52,31 | 20,09 |
| MSCI Japan Index | 13,ŁŁ  8,76 18,Ł8 | -15,15 | 19,75 -0,7Ł 9,93 9,Ł8 | 5Ł,58 | 21,57 |

1 M	3 M
DÉBUT D’ANNÉE 1 AN	3 ANS 5 ANS 10 ANS LANCEMENT