Interim Management Statement

RNS Number : 6070U

SchroderJapan Growth Fund PLC

03 December 2013

 

SCHRODER JAPAN GROWTH FUND PLC

Interim Management Statement for the Quarter ended 31 October 2013

The Board of Schroder Japan Growth Fund plc ("the Company") is pleased to announce its Interim Management Statement as required by the UK Listing Authority's Disclosure and Transparency Rules. This Statement is in respect of the period from 1 August 2013 to 31 October 2013.

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 up to the Date of Publication of this Statement

Annual General Meeting

The Annual General Meeting of the Company was held on 7 November 2013. All resolutions set out in the Notice of Meeting were duly passed.

Final dividend for the year ended 31 July 2013

The Board has declared a final dividend of 1.75p net per share for the year ended 31 July 2013, payable on 11 November 2013 to shareholders on the Register on 18 October 2013.

There have been no other material events or transactions that have taken place in respect of the Company between 1 August 2013 and the date of publication of this Statement.

Company Statistics as at 31 October 2013

Gross assets	£193.9 million
Net asset value per Ordinary share	134.82p
Share price	121.75p
Discount	9.7%
Number of portfolio holdings	85
Gearing	11.9%

Cumulative Performance to 31 October 2013 (Total Return in Percentage Terms)

Performance over	3m	6m	1yr
Share Price	(0.8)	(0.4)	44.8
Net Asset Value	(1.3)	(0.7)	38.9
Japan TSE First Section Index	0.5	(0.8)	33.9

Source for all performance data: Morningstar.

Portfolio Information as at 31 October 2013

Ten Largest Holdings

Stock Name	Sector Classification	Market Value (£)	Percentage of NAV
Toyota Motor	Consumer Goods	11,781,998	6.99
SK Kaken	Industrials	6,312,636	3.67
East Japan Railway	Consumer Services	6,241,175	3.63
Mitsui	Industrials	6,084,117	3.54
Sumitomo Mitsui Financial	Financials	5,982,609	3.48
Bridgestone Hi-Lex	Consumer Goods Industrials	5,746,921   5,638,245	3.35 3.28
KDDI	Telecommunications	5,356,370	3.12
NKSJ Holdings	Financials	4,923,732	2.87
Seven & I Holdings	Consumer Services	4,225,765	2.46

Sector Allocation

Sector

Percentage of NAV

Industrials	29.83
Consumer Goods	20.57
Financials	19.17
Consumer Services	17.00
Basic Materials	7.52
Technology	6.63
Telecommunications	5.48
Healthcare	4.50
Oil and Gas	2.00
Other net liabilities	(12.70)

Changes to Share Capital during the quarter ended at 31 October 2013

None - there remain a total of 125,008,200 ordinary shares of 10p each in issue. Each share carries one voting right. No shares are held in treasury. The total number of voting rights in the Company is 125,008,200.

Company Information as at 31 October 2013

SEDOL Code	0802284
Sector	Equity Investment Instruments
Launch Date	July 1994
Financial Year End	31 July
Next AGM Date	November 2014

Enquiries:

John Spedding                                                                                               

3 December 2013

Schroder Investment Management Limited

Company Secretary

Tel: [phone] 

 

END

 

 

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