Objective
To provide shareholders with capital growth in excess of the MSCI Japan Small Cap Index, through the active management of a focussed portfolio of equity investments listed or quoted in Japan.
Management group
Asset Value Investors
Launch date
23/10/2018
Domicile
United Kingdom
Fund manager
Joe Bauernfreund
Dividend frequency
Annually
Wind-up provisions
The Directors intend to offer shareholders the opportunity to exit the company at close to NAV in Oct 2022 and every two years thereafter (the Exit Opportunity). The mechanism will be dependent on various factors including the number of shareholders seeking to participate in the Exit Opportunity, the liquidity of the underlying market at the time of the Exit Opportunity and/or the demand for shares from other investors at the time of the Exit Opportunity. The Directors will consider the most efficient and cost-effective mechanism for providing the Exit Opportunity. Mechanisms may include, but are not limited to, share buy backs, tender offers (which may include realisation pools) or the liquidation of the company. The Board and the Joint Placing Agents will canvass opinion from shareholders in the months leading up to October 2022 (and at each appropriate interval thereafter) when making any decision in respect of any potential Exit Opportunity.
Total assets (m) Market Cap (m) Price (last close) NAV Dividend dates Discount / premium (%) Gearing (%) Dividend yield (%) AIC ongoing charge (%)
166.42 155.79 115.50 109.93 Dec 5.06 1 1.13 1.54 (31/12/2020)
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Note

The Investment Manager will invest 25 per cent. of the monthly management fee in Ordinary Shares. The Shares will be purchased in the secondary market or, if this is not possible, through the issue of Ordinary Shares by the Company. The Investment Manager will be required to hold the Ordinary Shares for a period of two years. Discount Control Policy .- if the 4 month moving average discount is greater than 5%, the Board will endeavour to reduce the discount by buying back shares.

Dividends

Dividends declared in last 12 months

Ex-Dividend date Payment date Dividend amount Dividend type Special dividend Financial year
30/09/2021 25/10/2021 0.700 Income No 2021
29/04/2021 27/05/2021 0.650 Income No 2020
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Performance (%)

Return type 1 year 3 years 5 years 10 years
AVI Japan Opportunity Share price total return 7.2 16.5 N/A N/A
Japanese Smaller Companies AIC sector Share price total return -21.6 9.8 44.2 260.3
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Share structure

Number of shares
134,880,702

Traded volumes (number of shares)

  Yesterday 1 month 1 year 5 years
Total 1,478,016 4,417,595 37,091,124 0
Average N/A 211,400 149,410 0
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Traded values (m)

  Yesterday 1 month 1 year 5 years
Total 1.71 4.86 38.21 0
Average N/A 0.25 0.17 0
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Trading details

ISIN TIDM Traded currency Stock exchange
GB00BD6H5D36 AJOT GBX London Stock Exchange - MAIN
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Top holdings

Data as at : 31/12/2021

Investment % of total assets
Wacom Co Ltd 8.3
T Hasegawa Co Ltd 7.9
Daibiru Corp 7.5
C. Uyemura & Co Ltd 7.0
DTS Corp 6.9
Pasona Group Inc 6.6
Fujitech Co Ltd 6.1
Digital Garage Inc 6.0
NS Solutions Corp 5.0
Scotia Bank Utilisation 17/08/2021 -11.7

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FE fundinfo logo Company documents provided by FE fundinfo.