Atlantis Japan Growth Fund (AJGF) is an actively managed growthoriented fund entirely invested in Japanese equities. Given this mandate the portfolio has tended to have a bias to small and medium-sized companies. The fund’s objective is to generate long-term capital appreciation. Since the fund was launched in 1996, day-to-day investment decisions have been advised by Ed Merner, who has long experience as a Japanese equity adviser and manager. AJGF has outperformed both Topix and MSCI Japan Smaller Companies indices over one, three and five years.