1st Oct 2015 17:29
LONDON (Alliance News) - Schroder Japan Growth Fund PLC Thursday said it outperformed its benchmark in the last financial year, prompting its share price to hit an all-time high, as it increased its dividend by 11%.
The trust said its net asset value total return in the year ended July 31 was 24%, ahead of its benchmark index, the Tokyo Stock Exchange 1st Section Index, which produced a total return of 17.7% in the same period. The return per share significantly rose to 32.71 pence from 2.19 pence, mainly driven by strong capital return.
Net asset value per share increased to 169.67 pence from 138.75 pence a year earlier.
The full year dividend was increased 11% to 2.0 pence from 1.80 pence in the last financial year.
"As a result of strong local market performance over the last 12 months, Japan has increasingly become a focus for investors. This, coupled with the company's outperformance of the benchmark, has led to additional interest in its shares, with the share price setting an all-time high over the year and the discount tightening from 10.8% to 6.4%," said the trust.
Schroder Japan shares closed up 1.8% to 143.0 pence per share on Thursday.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Schroder Japan