AVI Japan Opportunity Says Toshiba Units Drive Strong Fourth Quarter

(Alliance News) - AVI Japan Opportunity Trust PLC on Monday said it beat its benchmark index ...

Alliance News 13 January, 2020 | 5:41PM
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(Alliance News) - AVI Japan Opportunity Trust PLC on Monday said it beat its benchmark index during its fourth quarter, with six of its weaker performing investments improving quarter-on-quarter.

During the three months ended December 31, AVI Japan's net asset value return came in at 9.5%, beating the 0.6% from the MSCI Small Cap Japan index.

AVI Japan said: "Six of the top ten contributors this quarter were amongst the largest detractors last quarter. Toshiba Plant Systems & Services Corp, for example, was this quarter's largest contributor with a share price increase of 48% following a fall of 10% last quarter."

Toshiba Plant added 2.5% to AVI's return during the period with NuFlare Technology Inc, another Toshiba Corp subsidiary, adding 2.3%.

The investor added that it plans to raise additional funds through share issues over the "coming months".

Shares in the company closed 0.4% higher at 117.75 pence each in London on Monday.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
AVI Japan Opportunity Ord 104.50 GBX 0.48 -

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