Edison issues initiation on Fidelity Japan Trust

RNS Number : 1626B

Fidelity Japan Trust PLC

18 September 2018

 

London, UK, 18 September 2018

Edison issues initiation on Fidelity Japan Trust (FJV)

Fidelity Japan Trust (FJV) has a bottom-up, research-intensive investment process, a flexible approach to gearing and a focus on stocks across the market cap spectrum that offer growth at a reasonable price (GARP). Lead manager, Nicholas Price, has just notched up three years in charge, but has been with Fidelity in Japan for 25 years, first as part of the well-resourced analyst team and later as a portfolio manager across a range of mandates. FJV was known as Fidelity Japanese Values until May 2018, but changed its name as one of a number of administrative changes designed to align with the trust's all-cap, growth-focused strategy. Short- and longer-term performance have been strong, both in absolute terms and relative to indices; the discount widened over the summer while NAV performance remained positive, supporting near-term re-rating potential.

At 17 September 2018, FJV's shares traded at a 12.2% discount to cum-income NAV. This was wider than the 10.3% average over one year, but narrower than the 12-month high of 17.1% seen in April 2018 and the averages over three, five and 10 years (range of 12.4% to 13.6%). FJV's board recently bought back shares for the first time since March 2017, repurchasing 325,500 shares. As the recent discount widening was largely a result of the share price falling while the NAV rose, there is scope for it to narrow again if sentiment improves.  

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website

www.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Sarah Godfrey, [phone]

Gavin Wood, [phone]

[e-mail]

Learn more at www.edisongroup.com and connect with Edison on: 

LinkedIn        https://www.linkedin.com/company/edison-investment-research 

Twitter           www.twitter.com/Edison_Inv_Res 

YouTube       www.youtube.com/edisonitv 

 

END

 

 

NRAGGUWWBUPRGCR