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Komfie Manalo, Opalesque Asia:

Singapore-based fund management firm APS Asset Management saw its APS Japan Alpha Fund gain +10.56% (gross) in 4Q 2015, outperforming the benchmark by 3.05 percentage points. TOPIX Net Index’s returned 7.51% during the same period.

During 2015, the fund gained +9.69% (gross), outperforming the benchmark by +1.78 percentage points.

In its monthly report to investors, APS said that the Japanese stock market continued to climb in local currency terms during the quarter, supported by stronger-than-expected U.S. employment data and the corporate earnings results for the July-September quarter, which nearly met market consensus despite the Chinese economic slowdown.

APS commented, "The fund’s outperformance in the October-December quarter was a result of bottom-up stock picking. During the period, the APS Japan Alpha Fund happened to be tilted toward mid-caps due to APS’ fundamental research, unconventional idea generation and strict valuation work. The portfolio’s mid-cap names include Stella Chemifa (3.21% weighting at end-December), Santen Pharmaceutical (3.65%) and DISCO (4.21%), which were top contributors in the quarter."

In the last quarter of 2015, APS said the firm researched auto parts makers, software companies related to ADAS (advanced driver assistance systems), cloud computing services and cloud security services. "As a result, we maintained our position in Internet I......................

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