Revisions in Management Structure for Hifumi Investment Trust Series Announced by Rheos Capital Works

Changes in Management Structure for Hifumi Investment Trust Series

Rheos Capital Works, a member of the SBI Group based in Chiyoda, Tokyo, announced significant changes to the management structure of its Hifumi Investment Trust Series and Hifumi Crossover Series, effective June 16, 2026. This shift is part of their strategy to strengthen management capabilities under a new leadership framework.

The Hifumi Investment Trust Series, which includes Hifumi, Hifumi Plus, and Hifumi Pension, will now be led by Makoto Naito as the lead manager alongside Kenji Ohara. Meanwhile, the Hifumi Crossover Series, comprising Hifumi Crossover Pro and Hifumi Crossover Pension, will have Ryouka Matsumoto at the helm with Shouta Watanabe supporting management.

Previous Management vs New Structure

Here is a detailed comparison of the management structure before and after the changes:

Fund Name	Previous Management	New Management
-------	-------	---------
Hifumi Investment Trust Series	Hidetaka Fujino (Lead Manager)	Makoto Naito (Lead Manager)
	Hidetaka Fujino	Kenji Ohara
Hifumi Crossover Series	Hidetaka Fujino (Lead Manager)	Ryouka Matsumoto (Lead Manager)
	Hidetaka Fujino	Shouta Watanabe

Hidetaka Fujino, who was the lead manager for both fund series, will be stepping down effective June 15, 2026, marking a new chapter for the company's investment strategies.

Messages from the New Fund Managers

Makoto Naito, Senior Fund Manager for Hifumi Investment Trust Series

Naito expressed gratitude towards the supporters of Hifumi and embraced the responsibility that comes with his new role. He stressed a commitment to delivering results over the long term, ensuring that clients will benefit from their investment strategies. Naito highlighted the firm's dedication to 'visible management' and emphasized their unique approach of conducting thorough on-ground investigations to identify promising investment opportunities.

Kenji Ohara, Senior Fund Manager for Hifumi Investment Trust Series

Ohara highlighted the ambition of the Hifumi Investment Trust Series to realize continuous excess returns even amidst rapidly changing market conditions. He emphasized their role as a significant investor in Japan, which enables them to facilitate conversations with companies and influence market conditions positively.

Ryouka Matsumoto, Senior Fund Manager for Hifumi Crossover Series

Matsumoto pointed out the social significance of the Hifumi Crossover Pro fund, noting its role in investing in promising Japanese companies even before they go public, thus playing a part in building a better future. He expressed his commitment to leveraging extensive knowledge from both public and private investment experiences to create compelling returns for clients.

Shouta Watanabe, Senior Fund Manager for Hifumi Crossover Series

Watanabe reaffirmed the company’s longstanding support for emerging companies since its inception in 2003, promising to discover and help develop companies that contribute to Japan’s future.

Overview of Hifumi Investment Trust

The Hifumi Investment Trust series boasts over 1 trillion yen in total assets under management, operating on the principle of energizing Japan from the ground up and focuses significantly on investment in growth firms within the country. As of June 12, 2026, the total net assets reached approximately 216 billion yen, showcasing robust investor confidence.

The engaging strategies of the Hifumi trust series include personalized management approaches where the fund managers directly communicate their investment philosophies to clients. The series is geared towards supporting long-term asset growth through the consistent returns offered to investors.

The series consists of three funds – the flagship Hifumi Trust, Hifumi Plus, and Hifumi Pension – all aligned under the same investment philosophy. As a testament to its efficacy, the total net assets for the Hifumi Investment Trust Series reached over 1.1 trillion yen by June 12, 2026.

For those interested, the monthly performance report can be accessed here.

Hifumi Crossover Pro

The Hifumi Crossover Pro is tailored for investors seeking opportunities beyond the conventional realms, as it invests in both public and private firms. Launched in September 2024, it allows investors to access traditionally restricted opportunities in the pre-IPO landscape.

As of April 8, 2026, it achieved a total net asset surpassing 50 billion yen, reflecting its growing popularity among investors. This innovative investment vehicle aims to address challenges faced by startups and offers solutions right from early growth stages to the more mature phases of company development.

Investors can join the journey through direct purchase channels or through partnerships, with the latest distributor listings available here. Monthly updates for the Hifumi Crossover Pro can be found here.

About Rheos Capital Works

Founded in 2003, Rheos Capital Works is dedicated to enriching society through capital markets. Their 'Hifumi' series investment funds are celebrated for their transparent management, encouraging clients in their long-term growth journeys. With a robust commitment to managing assets for domestic and international pension funds, Rheos is proud to operate under the SBI Global Asset Management umbrella, scheduled to rebrand as SBI Rheos Capital Works in December 2026. Visit their website for further information.