The Mellon Japan Equity Value Fund is a new sub-fund in the best-of-class Mellon Global Funds, plc (MGF) UCITS III range. The Fund is managed by Mitsubishi UFJ Asset Management (UK) Ltd and is one of the first vehicles to offer the expertise of Mitsubishi UFJ Trust and Banking Value Team in Japanese equity fund management to international investors.

• An active value model that quantifies relative value and market sentiment to identify undervalued stocks
• The strategy the Fund is based on, the Mitsubishi UFJ Trust and Banking Value Strategy, has outperformed every year since inception in October 2000
• The strategy was developed in the 1990s with a leading academic investment research institute and currently has over $4.7 billion assets under strategy and over 3,000 clients, predominantly in Japan
• Strict risk management controls are applied including a target 2-3% tracking error and 1.0 beta target
• The success of the strategy has been demonstrated with a high Information Ratio of 1.71 over 5 years*

^{*Source: Mitsubishi UFJ Trust & Banking Corp
As at 30 Sep 2006
All returns are shown in Yen and are gross of fees Portfolio holdings are subject to change at any time without notice. This information is provided for information purposes only and should not be construed as a recommendation to purchase or sell any security Past performance is not indicative of future performance}