Fidelity Japan Trust PLC Edison issues review on Fidelity Japan Trust (FJV)
November 07 2019 - 5:11AM
RNS Non-Regulatory
TIDMFJV
Fidelity Japan Trust PLC
07 November 2019
London, UK, 7 November 2019
Edison issues review on Fidelity Japan Trust (FJV)
Fidelity Japan Trust (FJV) has performed particularly strongly
versus its reference index so far in 2019, after a sharp decline in
Q418. It has also done significantly better than the main Japanese
index over both shorter and longer periods, as well as
outperforming its peer group over one, three and five years to 31
October. Manager Nicholas Price, backed up by a large analyst team,
focuses on unearthing attractive investment opportunities among
less well-researched areas of the Japanese market, and has recently
been finding compelling ideas in technology-related sectors such as
semiconductors, where he sees good medium-term growth prospects and
attractive valuations.
At 5 November 2019, FJV's shares traded at a 10.6% discount to
cum-income NAV. While this is wider than the 12-month average
discount of 9.8%, it is narrower than longer-term averages. Peer
group valuations are polarised, with four of 10 funds across the
AIC Japan and Japan Smaller Companies sectors between a 0.8%
premium and a c 3% discount to NAV, while the others are on
discounts of c 10-13%. However, FJV has notably outperformed the
Japan peer group average over one, three and five years.
Click here to view the full report.
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Mel Jenner, +44 (0)20 3077 5720
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