25th Mar 2015 16:22
LONDON (Alliance News) - Aberdeen Japan Investment Trust PLC Wednesday said it will now hedge about 45% of its yen net assets against fluctuations in the yen-sterling exchange rate after carrying out a review of its exposures.
The trust had previously hedged 50% of its yen net assets.
"The company's net exposure to yen is moderated by the companies in its portfolio which have significant sources of revenue from exports or from non-Japanese operations. The exposure therefore fluctuates in response both to changes in the portfolio and to the strength of the yen," the trust said.
"The board continues to monitor the hedging policy and its effects on the company's performance on a regular basis and, as advised by the manager, will review the levels of sterling currency hedging in place as appropriate," the trust said in a statement.
The trust is managed by Aberdeen Asset Management Asia Ltd.
Aberdeen Japan Investment Trust shares were up 0.6% at 517.12 pence late on Wednesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
AJIT.L