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 29-Jan-2015

Ord
Price452.00p
NAV478.98p
Prem/-Disc-5.63%


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

December 2014

Market Review

Japanese equities closed marginally lower in both yen and sterling terms in December. Concerns over the Russian rouble’s collapse in response to weaker global oil prices dented sentiment. However, optimism over the government’s 3.5 trillion stimulus package targeted at small businesses and low-income families pared losses.

In politics, prime minister Shinzo Abe's Liberal Democratic Party and its coalition partner Komeito secured a two-thirds majority in a snap election. The renewed mandate will allow Abe to pursue tougher reforms, which include a 2.51 percentage-point reduction in the effective corporate tax rate and measures to encourage home-buying.

Portfolio Review

There were no major changes to the portfolio in December.

In portfolio-related news, Pigeon reported in-line results. Honda will recall 13 million cars globally owing to Takata Corp’s defective airbag issue. Auto parts suppliers Aisin Seiki and Shiroki agreed to merge their mechanical seat frame component businesses into Toyota Boshoku by the end of 2015. Aisin Seiki will make Shiroki a subsidiary via a share-swap agreement. The reorganisation would allow Aisin Seiki to focus its resources on its core businesses while achieving cost synergies with Shiroki. The move underlines Toyota’s continued cost-reduction efforts by simplifying its supply chain.

Elsewhere, camera and office equipment maker Canon upgraded its dividend forecast by 15% to 150 per share, reflecting its stable business environment.

Outlook

Following the resounding victory in the recent snap election, prime minister Shinzo Abe has a fresh mandate to carry out his tougher policies. Getting companies to raise wages is paramount but that has met with dismal success so far. In the face of weak domestic consumption, Japan needs a rebound in the global economy. In the absence of a Chinese revival and given Europe’s anaemia, investors are betting that the steady improvement in the US economy can be counted on to rev up exports. Elsewhere, the recent plunge in oil prices may also prove a significant relief for Japan’s economy, given that it is a huge net oil importer. This is fuelling expectations that the savings from fuel and energy may translate to increased consumer spending power and corporate profits in turn.


Source: Monthly Factsheet Aberdeen Asset Managers Limited