JPMorgan Japan Smaller Companies Trust plc - Ordinary Shares - J.P. Morgan Asset Management
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JPMorgan Japan Smaller Companies Trust plc
(GB0003165817)
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JPMORGAN JAPAN SMALLER COMPANIES TRUST PLC

Size is not the only indicator of quality

JPMorgan Japan Smaller Companies Trust plc aims to provide access to the innovative and fast growing smaller stocks that are at the core of the Japanese economy by using a stock selection process based on extensive experience and local knowledge.

Monthly Factsheet   Other trust documents  
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About this trust

Risks

Performance

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Fees

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Portfolio

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Manager Commentary

Fund Managers

Board of Directors

  • Alan Clifton

  • Robert White

  • Deborah Guthrie

  • Yuuichiro Nakajima

  • Alexa Henderson

In their words (as of )

The Company's net asset value outperformed the benchmark in April, while the share price underperformed. Both sector allocation and stock selection contributed positively. PeptiDream (biotechnology) was the top contributor, while GMO Payment Gateway (payment service) was the top detractor.

The outlook for the market appears positive, as the global demand pick-up is a major tailwind for Japan due to the relatively high weight of cyclical manufacturers in the index. The domestic political situation in Japan is stable as the current government has no substantial opposition. The interest rate environment has improved for Japanese banks. Valuations remain competitive in a global context. Corporate governance continues to be a major focus in Japan. 2016 saw record share buybacks and 25% of all companies bought back shares. This increasingly looks like a structural change.

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For contact details and more information on our trust range use the following links:

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AGM information

Annual General Meeting: 14 July 2017 2.30pm at 60 Victoria Embankment, London, EC4Y 0JP

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Disclaimer

Source:Morningstar (www.morningstar.co.uk)
3 Gearing represents the excess amount above shareholders' funds of total investments (excluding liquidity fund holdings) expressed as a percentage of the shareholders' funds. If the amount calculated is negative, this is known as a "net cash" position.
7 Non-Benchmark holdings (where held) are classified in the appropriate sector/region. Cash is net current assets and holdings used as cash substitutes if applicable.