11th Nov 2015 14:58
LONDON (Alliance News) - JPMorgan Japanese Investment Trust PLC on Wednesday said its net assets rose by 14.7% in sterling terms in the year to September 30, compared with the 6.0% increase in its Tokyo Stock Exchange First Section (TOPIX) Index benchmark.
Chairman Andrew Fleming said the trust's investment manager is seeing "interesting opportunities, at reasonable valuations, to invest in companies operating in the local economy".
"This, along with investments in competitive exporting companies, has been reflected in the much improved relative and absolute investment performance achieved by your company in recent years. The board is very encouraged by the opportunities we continue to see for active stock selection in companies, that are showing an increasing interest in external shareholders, from a research-intensive Japan-based investment team," Fleming said in a statement.
Shares in the trust were up 0.7% at 284.97 pence on Wednesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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