23rd May 2014 13:06
LONDON (Alliance News) - Aberdeen Japan Investment Trust PLC Friday reported a fall in its net asset value per share and share price in its recent financial year.
The trust's investment objective is to achieve long-term capital growth principally through investment in listed Japanese companies which are believed to have above average prospects for growth.
The trust said its net asset value per share of 377.94 pence as at March 31, was down 8.6% on its NAV per share of 413.61 pence reported a year earlier. Its share price declined almost 15% to 327.25 pence.
"It is premature to expect a sea change across all Japanese companies but the tide of change is rising and your board is confident that the manager's bottom-up investment style of cautious but long-term investment in carefully selected companies is well suited to deliver value from the future development of Japan," the trust said in a statement.
Shares in the trust were up 0.3% at 326.50 pence Friday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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