Aberdeen Japan Investment Trust PLC
  (GMT)
» Investment Trust Centre » UK Home

Investor Warning

Please be aware of scams that can affect investors.

Read our investor warning

 

NMPI Status

The Company currently conducts its affairs so that securities issued by Aberdeen Japan Investment Trust PLC can be recommended by financial advisers to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream pooled investment products (NMPIs) and intends to continue to do so for the foreseeable future.

The Company’s securities are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are securities in an investment trust.

 

Pre-investment Disclosure Document (PIDD)

The Alternative Investment Fund Manager Directive (“AIFMD”) requires Aberdeen Fund Managers Limited, as the alternative investment fund manager of Aberdeen Japan Investment Trust PLC, to make available to investors certain information prior to such investors’ investment in the Company.

The AIFMD is intended to offer increased protection to investors in investment products that do not fall under the existing European Union regime for regulation of investment products known as “UCITS”.

Read the PIDD for Aberdeen Japan Investment Trust

 
 

Risk Warning

The value of investments and the income from them may go down as well as up and investors may get back less than the amount invested. The tax benefits relating to ISA investments may not be maintained. Please refer to the Key Facts documents contained in the ISA/Share Plan Brochure & Application form for general and specific investment risks attaching to the individual trusts.

Read the detailed Risk Warning
 

Past Performance

Past performance is not a guide to future results.
See latest monthly factsheet below for performance history.

 
 

Daily Data

At close 18-Dec-2014

Ord
Price430.00p
NAV450.25p
Prem/-Disc-4.50%


Source: Morningstar, NAV = Net Asset Value, excluding income.

 
 
 
 
 

Portfolio Holdings Disclaimer

Holdings are subject to change at any time. Holdings should not be relied upon in making investment decisions and should not be construed as research or investment advice regarding specific securities. By accessing the portfolio holdings, you agree not to reproduce, distribute or disseminate the portfolio holdings, in whole or in part.

 
 

Trust Details

Aberdeen Japan Investment Trust PLC (formerly Aberdeen All Asia Investment Trust PLC)

Registered Office:
Bow Bells House
One Bread Street
London
EC4M 9HH

Registered in England as an Investment Company Number 3582911

 

Aberdeen Japan Investment Trust PLC

Objective

To achieve long-term capital growth principally through investment in listed Japanese companies which are believed by the Investment Manager to have above average prospects for growth.

 
 

Aberdeen Japan Investment Trust PLC, Annual Report for year ended 31 March 2014
Flavia Cheong, Investment Director

In this webcast Flavia Cheong gives an update on a wide range of subjects including performance, a sector breakdown, the twenty largest investments and an outlook for the Trust.

Click here to listen to the presentation.

 
 

The Company’s investment mandate was changed on 7 October 2013 following approval by Shareholders. The new investment objective is to achieve long-term capital growth principally through investment in listed Japanese companies which are believed by the Investment Manager to have above average prospects for growth. The new investment policy also provides for the underlying Yen net exposure to be appropriately Sterling hedged at levels to be determined from time to time by the Board in consultation with the Investment Manager.

The Company’s new name is Aberdeen Japan Investment Trust PLC.

Further details are provided in the announcement attached below.

Announcement
 
 

 

Manager's Monthly Report

November 2014

Market Review

Japanese equities rallied in both sterling and local currency terms in November, with the market's rise in line with the weakening of the yen. The delay of a proposed sales tax hike also lifted sentiment.

Market gains were pared, however, following weak data releases. The economy entered a technical recession in the September-quarter, as the negative impact from a consumption tax hike earlier in the year was greater than expected. But equities remained firm towards the end of the month, owing to hopes of improved corporate earnings on the back of weakness in the local currency and lower crude oil prices. In politics, Prime Minister Abe dissolved the lower house for a snap election in mid-December.

Portfolio Review

There were no major changes to the portfolio in November. Results for the fund's holdings were generally positive, with several companies revising their forecasts upwards to reflect the weakening yen.

In corporate news, Toyota Motor and several affiliated parts suppliers announced a series of business reorganisations that will raise efficiency across the group. Parts makers Denso and Aisin Seiki plan to merge their brake-system businesses. Toyota and Aisin Seiki will combine their manual transmission divisions, while Toyota's diesel-engine development and domestic production will be consolidated under Toyota Industries.

Honda Motor is one of 10 automakers involved in recalling almost 8 million US vehicles with defective air-bags. The company, which released an independent audit that suggested lax reporting of accidents linked to its vehicles, could face fines and regulatory action. Bank of Yokohama announced a 10 billion share buyback, continuing a trend of returning excess capital to shareholders. Separately, it will merge with Higashi-Nippon Bank in 2016 as it extends its reach to the Tokyo metropolitan area.

Outlook

With improving prospects of a US economic recovery, expectations of an imminent Federal Reserve interest rate hike appear to be rising. In contrast, growth prospects remain less certain in the rest of the world, leading to expectations of further stimulus measures. This includes Japan, where the economy remains weak in the wake of a hike in consumption taxes earlier in the year. At the time of writing, the nation is heading toward a snap election in which the ruling party has termed a referendum on its plan for economic reforms. Polls suggest the current prime minister Shinzo Abe’s Liberal Democratic party will achieve a landslide victory, especially with opposition parties remaining in disarray. Questions however remain on the administration’s focus with its expected renewed mandate, as the vote will determine not only Japan’s economic trajectory but also its diplomatic and military role in the region.


Source: Monthly Factsheet Aberdeen Asset Managers Limited