SJG : Schroder Japan beats benchmark
Schroder Japan Growth has published results for the year ended 31 July 2014. Over the year the strength of Sterling held back returns – translating a 15%+ gain in Yen terms into a 0.2% loss for the benchmark index. Schroder Japan Growth managed to beat this however, delivering a positive return of 1.6% in NAV terms. The dividend has been increased to 1.8p from 1.75p.
Andrew Rose’s manager’s report says that “two smaller companies, SK Kaken (paint manufacturer) and Hi-Lex (control cables), made the largest positive contributions to performance, whilst stock selection in the technology sectors Nidec (small precision motors) and Fujitsu (semiconductor, computers and communications equipment) was also supportive. This was partly offset by stock selection in the retail and machinery sectors.”