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Fidelity Japanese Values lags index

By BFN News | 08:02 AM | Friday 05 April, 2013


Fidelity Japanese Values' undiluted net asset value per share fell by 4.23p or 6.6%, in the year to the end of December while the Russell Nomura Mid/Small Cap Index (sterling adjusted) fell by 3.1%. The cpmpany's ordinary share price fell by 0.87p or 1.7%, as the discount narrowed from 18.2% to 13.9%. Chairman David Robins said the company's absolute performance was somewhat disappointing for while the market rose strongly in yen terms, the company's NAV per share and share price did not reflect this rise. He said this was largely as a result of the depreciation of the yen and the market's focus on larger cap and value stocks. At 8:02am: (LON:FJV) Fidelity Japanese Values share price was +0.38p at 63.88p Story provided by StockMarketWire.com

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