Schroder Japan achieves positive performance, beating benchmark

Wed, 27th Oct 2021

Investment company Schroder Japan Growth Fund posted a positive annual performance that beat its benchmark. The company's net asset value for the year through July rose 26%, versus a benchmark return of 18%. It declared a final dividend of 4.3p per share, down 12% over the final dividend paid in 2020, after revenue decreased to 4.38p per share. Schroder Japan Growth Fund said it was seeking to renew a buyback authority to purchase up to 14.99% of its shares. 'The board continues to believe that the long-term outlook for Japan is favourable and that the manager has the resources to deliver positive relative performance,' the company said. 'While the political backdrop remains challenging, with a newly elected prime minister and a general election expected later this year, the outlook for Japanese corporates is positive.' 'Earnings continue to recover as the economy reopens and consensus expectations are that this broad recovery is set to to continue as the country gets to grips with its vaccination programme and rebuilds.' Story provided by StockMarketWire.com

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