30th Mar 2015 15:08
LONDON (Alliance News) - Schroder Japan Growth Fund PLC Monday said it had outperformed its benchmark index in the half year to end-January.
It posted a total return on net asset value of 12.1%, compared with its benchmark index which saw a total return of 8.9% in sterling terms.
The fund said that the weaker yen had eroded gains for overseas investors, but this has been "more than compensated for" by a rise in stock prices.
Telecoms made the most positive contribution to its performance, and financials and technology were also positive. Commodity price-sensitive sectors were a drag, the fund said.
"The stock market (in terms of the broad Topix index) has risen to an 8 year high in the month following the company's half year end. This may invite short term profit-taking but we believe that the fundamental outlook for the stock market remains relatively positive in terms of economic performance, falling oil prices and economic policy backdrop," the fund said in a statement.
Shares in Schroder Japan Growth Fund are trading up 1.0% at 158.00 pence Monday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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