13th Jan 2020 17:41
(Alliance News) - AVI Japan Opportunity Trust PLC on Monday said it beat its benchmark index during its fourth quarter, with six of its weaker performing investments improving quarter-on-quarter.
During the three months ended December 31, AVI Japan's net asset value return came in at 9.5%, beating the 0.6% from the MSCI Small Cap Japan index.
AVI Japan said: "Six of the top ten contributors this quarter were amongst the largest detractors last quarter. Toshiba Plant Systems & Services Corp, for example, was this quarter's largest contributor with a share price increase of 48% following a fall of 10% last quarter."
Toshiba Plant added 2.5% to AVI's return during the period with NuFlare Technology Inc, another Toshiba Corp subsidiary, adding 2.3%.
The investor added that it plans to raise additional funds through share issues over the "coming months".
Shares in the company closed 0.4% higher at 117.75 pence each in London on Monday.
By Eric Cunha; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Avi Japan Oppo.