13th Nov 2014 15:51
LONDON (Alliance News) - JPMorgan Japan Smaller Companies Trust PLC Thursday said its net asset value total return outperformed its benchmark over the half-year ended September 30.
The company said its NAV total return increased by 10.3% over the six month period, compared with its benchmark, the S&P/Citigroup Japan Extended Market Index, which rose 8.0%.
"The Japanese smaller companies market moved strongly ahead during the six months," the company said.
Over the same period, the company said its share price total return was 11.3%, reflecting the narrowing of the discount to 12.7% from 16.2%.
"The recent announcements of renewed quantitative easing by the Bank of Japan and an increased allocation to domestic equities by the Government Pension Investment Fund reiterate the current administration's commitment to a programme of changes which are encouraging for the Japanese economy and the companies in which we invest," the company said.
The company's stock was up 2% at 206.00 pence Thursday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
JPS.L