Our company provides investment trust management and investment advisory services.

investment trust

Investment Trust Management

We manage both public and private investment trusts.

About the Hifumi Series

Hifumi is a brand name of investment trusts (funds) created to realize the essence of investment.
Hifumi is made of invaluable investments by our many individual clients.
We then invest that money in professionally selected growth companies in Japan and around the world. As the companies grow, the fund asset grows, and then we can contribute investment return to Hifumi clients.
The aim of Hifumi is to help our individual clients to build their assets while simultaneously giving back prosperity to society as a whole.

Hifumi Series of Publicly Offered Investment Trusts

Direct sales Indirect sales
Domestic and
Foreign Stocks
Hifumi Fund Hifumi Plus Fund
Hifumi DC Fund
Marugoto Hifumi 100
Foreign Stocks Hifumi World Hifumi World Plus
Hifumi World DC Fund
Domestic and
Foreign Asset
Hifumi Light Marugoto Hifumi 15
Marugoto Hifumi 50

Trends in Investment Trust Assets Under Management

  • other
  • Hifumi Series
investment adviser

Investment Advisory Services

A discretionary investment contract is a contract under which we are entrusted by the client to make investment decisions and manage the client's assets on behalf of the client. Our company is entrusted with and manages domestic corporate pension funds and overseas sovereign wealth funds based on discretionary investment agreements.

A Message from Hideto Fujino, Chief Investment Officer

Rheos Capital Works was founded in 2003 by a group of investment management professionals.

Since our founding, we have been consistent in our sincere commitment to pension fund management, and our unique investment methods, such as our on-the-ground approach to research across the country and analysis of qualitative information into numerical values, have been highly evaluated by domestic and foreign institutional investors and pension fund clients who were not satisfied with other asset management firms.

The Hifumi Fund, Hifumi Plus Fund, and Hifumi DC Fund, which are managed by the same team, have been well received by individual clients for their excellent results and proactive information disclosure.

We strive to think outside the box and create new "flows" in the ever-changing capital markets while ensuring that we are always of service to our clients. We are proud to be second to none in our passion and track record for managing Japanese stocks. If you are interested in our company as a pension manager, please feel free to contact us. We will sincerely do our part to provide all the information you need. We at Rheos Capital Works look forward to working with you.

Rheos Capital Works Inc.
Representative Director, Chairman, President, and CEO Chief Investment Officer
Hideto Fujino

Investment Philosophy

Active PolicyBelief in the Potential of People
In a company, management, employees, and various other stakeholders create unique value.
We use our imagination to determine the potential for change in the value of the company.
Flexible InvestmentsAdaptable Thinking
In an ever-changing market, we make selective long-term investments by focusing on the difference between the company value and its market valuation (undervaluation) assuming the fact that company valuation changes over time.
The Ability to Discover Unseen ValueSeeing with the Heart
We conduct thorough research and analysis of both qualitative and quantitative variables, and make selective investments in stocks whose market value is considered to be undervalued, while using experience, knowledge, imagination, and individual skills of all managers.
Fusing on Art and ScienceFeet on the Ground
We will pass on our ability to discover unseen value to our organization to the maximum extent possible, and continuing to improve the process of passing on this ability, then we will build an operational framework that our clients will be able to trust over the long term.

Operational Framework

The fund manager carries out the management of the fund in accordance with the Management Plan formulated by the fund manager and deliberated and finalized by the Investment Risk Management Committee. In addition, the Chief Compliance Officer (CCO) and the head of the Compliance Department check the status of compliance with laws and regulations, trust contracts, and internal rules at the Investment Risk Committee.

Risk Management Framework

The management framework for investment risk is up to date as of the end of August 2022, and is subject to change in the future.

Contact us

For pension and financial institutions, please contact us using the information below.


03-6266-0129Mon-Fri, 9am-5pm JST (GMT+09:00)