So investiert der Nikko AM Japan Cash-Rich Equity Fund Class S JPY Accumulated Fonds: The investment objective of the Sub-Fund is to achieve a medium to long term return through capital appreciation and dividends by primarily investing in cash-rich Japanese companies listed on the Tokyo Stock Exchange which have a high level of liquid reserves, with a particular focus on whether liquid reserves can be used effectively towards growth and the enhancement of shareholder returns. The Investment Manager believes that higher returns can be achieved by identifying cash-rich companies selling at low valuations. The investment philosophy is that cashrich companies tend to see an increase in return on equity due to the enhancement of shareholder returns via dividends, more aggressive management strategies and investment in future growth via capital investments and mergers and acquisitions, or are likely to become acquisition targets.