Interim Management Statement

RNS Number : 8593N

SchroderJapan Growth Fund PLC

18 June 2010

 

SCHRODER JAPAN GROWTH FUND PLC

Interim Management Statement for the Quarter ended 30 April 2010

The Board of Schroder Japan Growth Fund Plc ("the Company") is pleased to announce its Interim Management Statement as required by the UK Listing Authority's Disclosure and Transparency Rules. This Statement is in respect of the period from 1 February 2010 to 30 April 2010.

Investment Objective

The Company's principal investment objective is to achieve capital growth from an actively managed portfolio principally comprising securities listed on the Japanese stock markets, with the aim of achieving growth in excess of the TSE First Section Total Return Index over the longer term.

Material Events or Transactions

There have been no material events or transactions that have taken place between 1 February 2010 and the date of publication of this Statement.

Company Statistics as at 30 April 2010

Gross Assets	£151.95million
Net Asset Value per Ordinary Share	104.47p
Share Price	91.00p
Discount	12.89%
Number of Holdings	79
Net Effective Gearing	9.48%
Yield	0.00%

Cumulative Performance to 30 April 2010 (Total Return in percentage terms)

Performance over	3m	6m	1yr
Share Price	17.8	27.3	40.5
Net Asset Value	15.5	21.1	35.8
Japan TSE First Section	11.6	15.4	21.2

All Performance Data Source: Fundamental Data.

Portfolio Information as at 30 April 2010

Ten Largest Holdings

Stock Name	Sector Classification	Market Value (£)	Percentage of NAV
Toyota Motor	Consumer Goods	7,513,565	5.26
Mitsui & Company	Industrials	5,805,426	4.06
Ricoh	Technology	4,799,147	3.36
Nidec	Industrials	4,395,176	3.08
East Japan Railway	Consumer Services	4,159,242	2.91
Tachihi Enterprise	Financials	3,929,493	2.75
HI Lex	Industrials	3,558,080	2.49
SK Kaken	Industrials	3,518,851	2.46
NKSJ Holdings	Financials	3,507,245	2.45
Bridgestone	Consumer Goods	3,445,604	2.41

Sector Allocation

Sector		Percentage of NAV
Industrials	30.81
Financials	23.37
Consumer Services	17.05
Consumer Goods	13.48
Basic Materials	9.77
Technology	5.61
Healthcare	4.05
Telecommunications	3.98
Oil & Gas	1.48
Other net liabilities	(9.60)

Changes to Share Capital during the quarter ended at 30 April 2010

	Issued Ordinary shares of 25p each
As at 1 February 2010	125,008,200
Shares bought back and cancelled during the period	Nil
Shares bought for holding in treasury during the quarter	Nil
Shares already held in treasury	Nil
Shares cancelled from treasury	Nil
Shares remaining in issue as at 30 April 2010	125,008,200

Company Information as at 30 April 2010

SEDOL Code	0802284
Sector	Equity Investment Instruments
Launch Date	July 1994
Financial Year End	31 July
Next AGM Date	November 2010

Enquiries:

John Spedding                                                                                     

Schroder Investment Management Limited

Company Secretary

Tel: [phone] 

18 June 2010

 

END

 

 

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