10 Oct 2019 13:50
London, UK, 10 October 2019
Edison issues review on Atlantis Japan Growth Fund (AJG)
Atlantis Japan Growth Fund's (AJG) lead adviser since May 2016 is Taeko Setaishi of Atlantis Investment Research Corporation; during her tenure AJG has outperformed the benchmark Tokyo Price Index (TOPIX) in both NAV and share price terms. Over time, AJG's board has simplified the company's structure. Recently it announced it will no longer offer a six-monthly redemption facility; instead it will pay a quarterly dividend based on the fund's NAV, which will be paid out of revenue and capital. The board believes that this could broaden AJG's appeal for investors seeking Japanese equity exposure.
AJG's current 13.2% discount to NAV is wider than the 9.6%, 9.0%, 8.9% and 9.1% average discounts over the last one, three, five and 10 years. The board's steps to simplify the company's structure, such as the cancellation of the subscription rights programme and six-monthly redemptions, and initiating a quarterly dividend, has the potential to increase AJG's appeal to a wider audience, and in doing so narrow the discount.
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