REGIONAL SECTORS
JAPAN
trustnet.com
PROFILE: SCHRODER JAPAN GROWTH
The relative performance of the £204m Schroder Japan Growth fund over
three and five years may look unexciting in the competitive AIC Japan sector,
but it is still substantially ahead of the Topix index over each period. Equally,
the trust’s 6.6 per cent discount compares favourably to that of the investors’
favourite, Baillie Gifford.
Simon Moore, head of research at BestInvest, says that manager Andrew
Rose has a big team and has proved himself a capable manager over the
long term. It is smaller company-focused and has also benefited from
the currency trade over the past 12 months. It currently has gearing of
approximately 12 per cent. Toyota Motors is the trust’s largest holding, a sign
of Rose’s generally optimistic view on the outlook for the Japanese market
from here.
for fund managers that have
focused on smaller companies or
“value” opportunities.
Stephen Peters, analyst at
Charles Stanley, says all the
trusts in the sector have a growth
bias. “Last year favoured those
companies with quality ear