Interim Management Statement

RNS Number : 4746T

SchroderJapan Growth Fund PLC

06 December 2011

 



SCHRODER JAPAN GROWTH FUND PLC

Interim Management Statement for the Quarter ended 31 October 2011

The Board of Schroder Japan Growth Fund plc ("the Company") is pleased to announce its first Interim Management Statement for the year ending 31 July 2012, as required by the UK Listing Authority's Disclosure and Transparency Rules. This Statement is in respect of the period from 1 August 2011 to 31 October 2011.

Investment Objective

The Company's principal investment objective is to achieve capital growth from an actively managed portfolio principally comprising securities listed on the Japanese stock markets, with the aim of achieving growth in excess of the TSE First Section Total Return Index over the longer term.

Material Events or Transactions

There have been no material events or transactions that have taken place between 1 August 2011 and the date of publication of this Statement.

Annual General Meeting

The Annual General Meeting of the Company was held on 2 November 2011, with all resolutions being passed by shareholders.

Company Statistics as at 31 October 2011

Gross Assets	£143.033 million
Net Asset Value per Ordinary Share	94.72p
Share Price	82.75p
Discount	12.64%
Number of Holdings	81
Net Effective Gearing	9.97%

Cumulative Performance to 31 October 2011 (Total Return in percentage terms)

Performance over	3m	6m	1yr
Share Price	(10.9)	(0.5)	2.8
Net Asset Value	(9.4)	(1.7)	1.2
Japan TSE First Section	(7.8)	(2.6)	(1.3)

All Performance Data Source: Fundamental Data.

Portfolio Information as at 31 October 2011

Ten Largest Holdings

Stock Name	Sector Classification	Market Value (£)	Percentage of NAV
Toyota Motor	Consumer Goods	6,176,220	4.74
Mitsui & Company	Industrials	5,340,915	4.10
Bridgestone	Consumer Goods	4,288,035	3.29
SK Kaken	Industrials	4,196,743	3.22
East Japan Railway	Consumer Services	4,088,845	3.14
HI-Lex	Industrials	3,847,623	2.95
KDDI	Telecommunications	3,496,279	2.68
Nippon Telegraph & Telephone	Telecommunications	3,201,983	2.46
Seven and I Holdings	Consumer Services	3,062,129	2.35
Summitomo Mitsui Financial	Financials	2,781,895	2.14

Sector Allocation

Sector

Percentage of NAV

Industrials	31.39
Consumer Services	18.10
Financials	17.96
Consumer Goods	17.21
Basic Materials	8.08
Telecommunications	5.66
Healthcare	4.72
Technology	4.48
Oil & Gas	2.50
Other net liabilities	(10.10)

Changes to Share Capital during the quarter ended at 31 October 2011

	Issued Ordinary shares of 25p each
As at 1 August 2011	125,008,200
Shares bought back and cancelled during the period	Nil
Shares bought for holding in treasury during the quarter	Nil
Shares already held in treasury	Nil
Shares cancelled from treasury	Nil
Shares remaining in issue as at 31 October 2011	125,008,200

Company Information as at 31 October 2011

SEDOL Code	0802284
Sector	Equity Investment Instruments
Launch Date	July 1994
Financial Year End	31 July
Next AGM Date	November 2012

Enquiries:

John Spedding                                                                                     

6 December 2011

Schroder Investment Management Limited

Company Secretary

Tel: [phone] 

 

END

 

 

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