(Alliance News) - Atlantis Japan Growth Fund Ltd on Wednesday reported a fall in net assets during a turbulent year.
Net assets at April 30 were 8.7% lower at GBP97.9 million from GBP107.3 million the same date the year before. NAV per share fell 3.3% to 2.34 pence from 2.42p.
Shares in the company were trading flat at 218.00p each in London on Wednesday.
The Japan-focused investor reported a total return of negative 3.3%, below its benchmark which returned positive 0.8%.
The company said: "The financial year ended April 30, 2020 coincided with one of the most turbulent periods in living memory. The humanitarian and economic crisis engendered by the Covid-19 pandemic has caused great volatility in financial markets globally, including Japan. February and March 2020 saw sharp declines in stock market values. Investors have since been grappling with the severity of the economic downturn to come and the shape of a recovery."
By Eric Cunha; ericcunha@alliancenews.com
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