29th Mar 2018 14:51
The trust posted a net asset value total return of 34% for 2017, with a share price total return of 49%, outperforming the Russell Nomura Mid/Small Cap Index which returned 18%.
The company said it intends to use the Tokyo Stock Exchange TOPIX Total Return Index as its reference index from May 22, as it is the "most inclusive index in terms of constituents".
Net asset value per share rose to
Japanese equities rose strongly over the year, the company said, backed by upbeat corporate earnings results, easing political concerns and a steady flow of positive economic data.
"The upbeat global economic outlook, along with the supportive domestic policy environment, should help Japanese companies to post another year of robust profits. The US tax reform legislation enacted in late 2017 could also provide a boost to Japanese companies that are heavily geared to the US market," said Chairman David Robins
"The market may suffer further setbacks as a result of rising tension on the Korean peninsula, uncertainty over the future of Prime Minister Abe, increasing protectionism instigated by the US and bouts of yen strength," Robins added.
Shares in the company were up 0.9% at
Related Shares:
Fidelity Japan Trust