Atlantis Japan Growth Fund Ltd - Guernsey-based investment firm focused on long-term capital growth from listed Japanese equities - Underperforms its benchmark TOPIX Total Return index in its financial year as market sentiment remains uncertain.
Net asset value total return during year ended April 30 is down 21% to a year ago, compared to its benchmark being down 5.0%. Net asset value per share at April 30 falls to GBP0.11 from GBP0.14 a year ago. Company turns to a pretax loss of GBP23.7 million from a profit of GBP22.5 million.
Says that Japan's economy is more resilient than other developed economies. Adds that its focus on long-term growth "places it in a strong position to benefit from exposure to growth-orientated businesses, companies with sustainable competitive advantages and that have strong free cash flow. This will help drive long-term performance of the company."
Current stock price: 161.00 pence, down 1.5% on Wednesday
12-month change: down 34%
By Tom Budszus; tombudszus@alliancenews.com
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