Aberdeen Japan Investment Trust PLC
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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 26-Feb-2015

Ord
Price485.00p
NAV507.74p
Prem/-Disc-4.48%


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 half yearly report for the six months ended 30 Sept 14
Kwok Chern Yeh, Director and Head of Investment, Japan

In this webcast Kwok Chern Yeh gives an update on a wide range of subjects included the Trust’s performance, the sectoral positioning of the portfolio 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

January 2015

Market Review

Local equities rose in January, buoyed by optimism over the European Central Bank’s larger-than-expected quantitative easing programme and the US Federal Reserve’s pledge to be patient in normalising interest rates. Sentiment also benefited from positive local earnings news.

Economic data remained fragile, with leading indicators at their lowest since 2013. More frugal household spending was mirrored by underwhelming retail sales. Inflation was steady, whereas unemployment improved. The Bank of Japan trimmed its 2015 CPI forecast but was adamant that price increases would top 2% by 2016. In politics, the cabinet approved a record 96.3 trillion budget for the next fiscal year because of higher welfare spending and military outlays.

Portfolio Review

There were no major changes to the portfolio in January.

In third-quarter earnings news, Shin-Etsu Chemical’s results benefited from solid sales of its profitable silicon wafers: Toyota Motor lifted its full-year forecast after results beat expectations on favourable US sales, a positive currency effect and cost cuts. Factory automation specialist Fanuc also upgraded its outlook after achieving close to 80% of its full-year profit target.

The Company has entered into a new unsecured three-year JPY 1.3 billion term loan facility with ING Bank, London Branch at an all-in rate of 0.8975 %. This replaced the 10 million multi-currency revolving facility with Standard Chartered Bank of which JPY 1.0 billion had been drawn down and which was repaid on 25 January 2015.

Outlook

Armed with a fresh mandate, a re-elected Abe has pledged boldness in addressing structural shortcomings. His “third arrow” reforms, however, are still missing their mark, while the Bank of Japan’s inflation target is harder to hit because of the falling oil price. More stimulus may be necessary, as the benefits of a weak yen and cheaper energy have filtered through to only some parts of the economy. That said, stock valuations remain fair, with the broader Topix Index still below pre-crisis levels.


Source: Monthly Factsheet Aberdeen Asset Managers Limited