Portfolio re-alignment update

RNS Number : 4684Q

Aberdeen Japan Investment Trust PLC

14 October 2013

 



14 October 2013

Aberdeen Japan Investment Trust PLC (AJIT) (the "Company")

Portfolio re-alignment update

On 7^th October 2013 the Company announced that Shareholders had unanimously approved the resolution put to the General Meeting changing the investment objective of the Company with immediate effect.

The Company's new investment objective is to achieve long-term capital growth principally through investment in listed Japanese companies which are believed by the Investment Manager to have above average prospects for growth. The new investment policy also provides for the underlying Yen net exposure to be appropriately Sterling hedged at levels to be determined from time to time by the Board in consultation with the Investment Manager.

It was expected that the Company's then existing portfolio of assets would be realigned in accordance with the Company's new investment mandate over the following few days.

The Board is today pleased to announce that the portfolio has effectively been re-aligned and now holds over 96% of its assets in Japanese stocks with the underlying net yen exposure (assessed currently as 50% of net assets due to the currency of underlying portfolio companies' operating revenues) fully hedged to sterling. Drawings made under the current bank loan facility are now also denominated in Yen.

Aberdeen Japan Investment Trust PLC

Aberdeen Asset Management PLC, SECRETARY

 

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