Fidelity Japan Trust (FJV); NAV total return of 14.8% for H1 2019 vs. reference index return of 7.6%

Published on 01-08-2019 08:30:52
Author Sparks Team
Sparks - fidelity Japan trust feature image - JPG - 01082019

Fidelity Japan’s core holdings in services and medical technology related companies, with lower exposure to banks, steered the outperformance.

No significant changes were made to the overall holding composition of the trust. While exposure to machinery and chemicals stocks was reduced, positions in semiconductor companies and component makers were selectively increased.

During the period, gearing levels remained in the range of 15%-17%. Fidelity Japan continued to look for opportunities to invest in innovative companies at the pre-IPO stage, with a ¥400m investment in Coconala.

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