Interim Management Statement

RNS Number : 9391I

SchroderJapan Growth Fund PLC

22 June 2011

 



SCHRODER JAPAN GROWTH FUND PLC

Interim Management Statement for the Quarter ended 30 April 2011

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 2011 to 30 April 2011.

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 2011 and the date of publication of this Statement.

Company Statistics as at 30 April 2011

Gross Assets	£142.831 million
Net Asset Value per Ordinary Share	95.59p
Share Price	83.13p
Discount	13.03%
Number of Holdings	82
Net Effective Gearing	10.6%

Cumulative Performance to 30 April 2011 (Total Return in percentage terms)

Performance over	3m	6m	1yr
Share Price	(10.6)	3.3	(8.6)
Net Asset Value	(9.1)	2.9	(8.5)
Japan TSE First Section	(8.2)	1.3	(6.2)

All Performance Data Source: Fundamental Data.

Portfolio Information as at 30 April 2011

Ten Largest Holdings

Stock Name	Sector Classification	Market Value (£)	Percentage of NAV
Toyota Motor	Consumer Goods	7,326,964	5.53
Mitsui & Company	Industrials	5,978,258	4.51
HI Lex	Industrials	4,251,163	3.21
Bridgestone	Consumer Goods	4,185,106	3.16
SK Kaken	Industrials	3,762,457	2.84
East Japan Railway	Consumer Services	3,389,222	2.56
Nidec	Industrials	3,381,187	2.55
Tachihi Enterprise	Financials	3,299,170	2.49
Ricoh	Technology	3,123,682	2.36
KDDI	Telecommunications	3,021,197	2.28

Sector Allocation

Sector		Percentage of NAV
Industrials	32.13
Financials	20.53
Consumer Services	16.87
Consumer Goods	15.96
Basic Materials	8.61
Telecommunications	4.84
Healthcare	4.67
Technology	4.46
Oil & Gas	2.80
Other net liabilities	(10.87)

Changes to Share Capital during the quarter ended at 30 April 2011

	Issued Ordinary shares of 25p each
As at 1 February 2011	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 2011	125,008,200

Company Information as at 30 April 2011

SEDOL Code	0802284
Sector	Equity Investment Instruments
Launch Date	July 1994
Financial Year End	31 July
Next AGM Date	November 2011

Enquiries:

John Spedding                                                                                     

22 June 2011

Schroder Investment Management Limited

Company Secretary

Tel: [phone] 

 

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