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Fidelity Japanese Values beats benchmark

By BFN News | 03:51 PM | Friday 18 March, 2011

Fidelity Japanese Values' net asset value rose by 23.2% in the year to the end of December - outperforming its benchmark by 4.6 percentage points in sterling terms. The increase in value was primarily due to currency gains, as the yen appreciated against sterling by 18.4% over the year. But it said stock selection, gearing and the rise in the stockmarket also contributed to performance. Chairman William Thomson said fortunately Fidelity's Tokyo office was not directly affected by last week's earthquake and staff were working to ensure that a normal level of service is provided. But he said contingency plans were in place if the situation should worsen in any way. He added: "The disaster came at a time when the outlook for Japan was starting to look more positive. "We hope that, despite the effects of the disaster, this improved state of affairs will return soon." At 3:51pm (LON:FJV) Fidelity Japanese Values share price was +3.25p at 54p Story provided by

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