9th Jul 2018 18:36
LONDON (Alliance News) - Atlantis Japan Growth Fund Ltd said Monday its net asset value total return outperformed its benchmark for the year ended April.
Atlantis' NAV total return was 38.8%, ending the year at 242.30 pence, beating the TOPIX benchmark increase of 13.5%.
The company's net asset value per share increased to USD3.33 from USD2.26 the previous year.
Atlantis increased its net gain on investments held at fair value to USD48.9 million from USD16.6 million the year before.
The company's net assets rose in the year to USD163.3 million from USD99.7 million.
Atlantis said it believes there is a "compelling case" for investment in Japanese equities over the medium to long term. According to the company, the Japanese economy is growing at a steady pace "given its mature structural characteristics".
Shares in Atlantis closed down 0.5% Monday at 218.93 pence each.
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