The Company has announced its Final Results for the year ended 31 December 2019.
- The Company recorded a net asset value (“NAV”) total return of +36.6% for the year ended 31 December 2019, more than double its Reference Index which returned +14.6%%, and the share price total return was +39.4%.
- During the reporting year, the Board undertook more active management of the discount contributing to a narrowing of the discount to NAV from a high of 13.8% to 6.6%. Against this backdrop, the Board has amended its discount policy to maintain the discount in single figures in normal market conditions.
- The Board has approved an increase in gearing to 25% to assist the Portfolio Manager in maximising the opportunity to purchase high quality companies at depressed prices as a result of current market conditions caused by the pandemic.
News & Insights - Japan Trust PLC
Annual General Meeting Portfolio Manager Presentation - May 2020
The Portfolio Manager, Nicholas Price, has pre-recorded his 2020 AGM presen...
The value of investments and the income from them can go down as well as up, so you may get back less than you invest. Past performance is not a reliable indicator of future returns. Fidelity Japan Trust PLC can use financial derivative instruments for investment purposes, which may expose it to a higher degree of risk and can cause investments to experience larger than average price fluctuations. Overseas investments will be affected by movements in currency exchange rates. Investments in smaller companies can carry a higher risk because their share prices may be more volatile than those of larger companies. Reference to specific securities should not be construed as a recommendation to buy or sell these securities and is included for the purposes of illustration only. Investors should note that the views expressed may no longer be current and may have already been acted upon. This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser.