28 Jan 2022 07:00
London, UK, 28 January 2022
Edison issues review on Atlantis Japan Growth Fund (AJG)
Atlantis Japan Growth Fund (AJG) invests in a diversified portfolio of Japanese equities, with a focus on the country's innovative, smaller-cap companies. The fund has achieved its long-term capital growth objective, delivering an average annual NAV return of 13.6% over the past 10 years, considerably outperforming its benchmark, the TOPIX, over this period. In addition, the fund pays a high and regular dividend, offering a yield of 5.3%. Yet it is trading at a much wider discount than its peers, potentially offering new investors an attractive entry point.
AJG's shares are currently trading at a 12.2% discount to cum-income NAV, significantly wider than its AIC peers. This could be higher than justified given its strong performance and highly competitive dividend payments and suggests scope for the discount to narrow over time. There is also the possibility that the discount may narrow over time in response to the board's ongoing efforts to reduce charges. Meantime, the current relatively wide discount may offer investors an attractive entry point.
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