Aberdeen Japan Investment Trust PLC
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Investor Warning

Please be aware of scams that can affect investors.

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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 01-Oct-2014

Ord
Price384.25p
NAV430.12p
Prem/-Disc-10.67%


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

 
 
 
 
 

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

August 2014

Market Review

Japanese equities fell in August as weak economic data continued to point to a pullback following the consumption tax hike in April. Second-quarter GDP shrank by 1.7% from a quarter earlier. Core machinery orders and industrial output disappointed.

Portfolio Review

There were no major changes to the portfolio in August.

In portfolio-related news, Toyota Motor’s results were boosted by demand in North America and ongoing cost cuts, while Unicharm benefited from robust sales in Asia. The diaper maker will buy back 8 billion worth of shares.

In other corporate news, Chugai Pharmaceutical refuted speculation that its parent Roche was considering a buyout of the company. Additionally, Chugai will amend its licensing contract with Roche to accelerate the development of future drugs.

Yahoo! Japan will mount a takeover bid of 7.3 billion for marketing research firm Synergy Marketing to strengthen its advertising business.

Encouragingly, retail conglomerate Seven & i Holdings raised its annual dividend payout from 70 to 73 yen per share, a reflection of its underlying business strength. We are positive about Bank of Yokohama and Sumitomo Mitsui Trust Bank’s proposed asset management joint venture to expand their retail investment products, which would help Bank of Yokohama diversify its revenue base.

Outlook

Looking ahead, the recent string of poor economic data is clouding prime minister Shinzo Abe’s expected year-end decision to further hike consumption taxes. In response, the administration has suggested it is supportive of further stimulus to boost the economy, while the Bank of Japan has retained its economic outlook, but added that it will be flexible in adapting to the macroeconomic changes. Meanwhile, the recent cabinet reshuffle appears encouraging as it could herald progress in much needed structural reforms. Overall, we remain cautious, but take comfort in the resilience of our holdings, which should be able to withstand current headwinds.


Source: Monthly Factsheet Aberdeen Asset Managers Limited