A new Japan focused investment trust, CC Japan Income & Growth Trust, has announced that it has raised gross proceeds of £66.5m from its first placing, offer for subscription and intermediaries offer. The net proceeds of this first issue are expected to be approximately £65.3m. The shares, which were issued at a price of 100p per share, are expected to be admitted to the premium segment of the London Stock Exchange on 15 December 2015. The fund is to be managed by Richard Aston (pictured) of Coupland Cardiff. The manager runs a sister open ended fund of the same name, which has returned 82.6% since launch in January 2013, versus the 69% return of Japan’s Topix index over that period.
New Japan focused investment trust raises £66.5m