Schroder Japan Growth Fund Net Assets Decrease In First Half

(Alliance News) - Schroder Japan Growth Fund PLC on Friday said its net asset value declined in the first half of its current financial year.

The investment company reported net asset value as at the end of January of 218.25 pence, down from 207.22p reported a year prior. At the end of July 2019, the fund's NAV stood at 219.04p.

During the six-month period to January 31, the NAV and share price total returns in sterling were 1.8% and 2.3%, respectively. This compares to the company's benchmark total return of 1.3%.

Schroder Japan explained that since the end of January, global markets have experienced sharp drops as a result of government responses to the Covid-19 pandemic. Thus, as of Wednesday, the company's NAV had dropped further, to 189.53p per share.

The stock was trading 1.9% higher in London on Friday at 161.04p a share.

Looking ahead, the trust said it expects corporate profits in Japan to be hurt in the short term by coronavirus uncertainty. However, Schroder Japan noted that this market volatility has a potential to produce new buying opportunities.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

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