17 Jul 2020 10:29
London, UK, 17 July 2020
Edison issues review on Atlantis Japan Growth Fund (AJG)
Atlantis Japan Growth Fund (AJG) aims to realise long-term capital growth through investment in a diversified portfolio of listed Japanese equities. It has a bias towards growth stocks and focuses on companies that have the potential to benefit from changing trends within Japan's domestic economy. AJG has an all-cap strategy but in recent years it has focused on small-cap stocks. Performance, which is benchmarked against the TOPIX index, has been strong. AJG's NAV has outperformed over the last one, three, five and 10 years. The fund has also outperformed the UK market over all these periods. Under a new dividend policy, shareholders receive a quarterly dividend of 1% of NAV (4% pa).
AJG's current 18.0% share price discount to cum-income NAV is wider than the average discounts over the last one, three, five and 10 years (13.0%, 10.3%, 9.8% and 9.0% respectively.) The recent initiation of a 1% quarterly dividend has the potential to increase support for AJG and narrow the discount over time.
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