Schroder Japan Growth had a great year for the twelve months ended 31 July 2015, generating a total return on net assets of 24% while its benchmark delivered a return of 17.7%. The Directors have declared a final dividend of 2.00p per share for the year, an increase of 11.1% over the 1.80p per share paid in respect of the previous year.
The manager says stock selection contributed positively as did maintaining gearing over that period. Stock selection in telecommunications and technology was supportive such as KDDI, TDK and Koito Manufacturing. This offset the drag from holdings adversely affected by the fall in commodity prices such as trading company Mitsui & Co.
SJG : Schroder Japan benefits from stock selection and gearing