Fidelity Japan Trust opportunities targeting undervalued growth stocks, May Factsheet

Fidelity Japan Trust PLC (LON:FJV) published its monthly factsheet for the period ended May 2024.

Portfolio Manager Commentary 

The Trust recorded NAV returns of 1.0% over the 12 months to May 2024, underperforming the reference index, which returned 15.2%. The Trust’s share price fell by 0.9% over the same period and the discount to NAV widened marginally.  

While the Japanese market has recorded historical gains, significant style divergences have persisted. The US bond yield cycle and accompanying currency trends have exerted a sizeable impact on style returns. These trends have generated performance headwinds, particularly during periods of sharp rises in long-term rates. Against this backdrop, the underweight exposure to value areas of the market have weighed on relative returns. Holdings in machinery companies that faced a slowdown in earnings due to sluggish demand in China also detracted from performance. Conversely, key positions in technology-related cyclicals outperformed and holdings in differentiated small caps added value.  

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Fidelity International

More articles like this

Fidelity Japan Trust

Japan’s rising growth stocks signal shift in market focus

In Japan’s equity market, cyclical stocks have long been the dominant players, attracting significant investment. Major sectors such as industrial and consumer discretionary make up 40.8% of the MSCI Japan index, meaning these cyclical businesses receive

Fidelity Japan Trust

Japan’s stock markets rebound on strong earnings

Japan’s stock markets saw a welcome recovery on Tuesday, with the Nikkei gaining 1.11% to reach 38,474.66. This rally came after a challenging end to the previous week, when the Nikkei had dropped 2.63% by Friday.

Fidelity Japan Trust

Japanese stocks edge higher amid gains in key sectors

Japan’s stock market saw an uptick on Monday, with notable gains in sectors such as Precision Instruments, Pharmaceuticals, and Transportation Equipment driving the broader market upwards. By the end of trading in Tokyo, the Nikkei 225

Fidelity Japan Trust

Japan joins the rally as Asian stocks rise

On Monday, Asian stock markets experienced a significant rally, and the US dollar reached a new seven-week high against the yen. This came after impressive US labour market data released on Friday, which eased recession fears

Fidelity Japan Trust

Japan stocks reflect strength and growth in resilient economy

Japan’s stock market has experienced remarkable growth, establishing itself as one of the most exciting investment opportunities in recent years. Despite global economic uncertainty, Japan’s economy has demonstrated resilience, buoyed by both its innovation-driven industries and

Fidelity Japan Trust

Japan stocks climb as key sectors drive gains

Japan’s stock market saw an upward trend by the close of trading on Tuesday, driven by notable gains in sectors such as Insurance, Textiles, and Paper & Pulp. The Nikkei 225 index, reflecting these movements, rose

Fidelity Japan Trust

Japan’s economic turnaround in 2024

Japan’s economy has recently shown promising signs of recovery, with the government announcing stronger-than-expected growth in the second quarter of 2024. The latest data reveals that the country’s gross domestic product (GDP) expanded at an annualised

Fidelity Japan Trust

Japanese stocks edge higher with gains in key sectors

Japanese stocks edged higher on Tuesday, led by gains in the transport, retail, and services sectors. The Nikkei 225 index closed with a modest increase of 0.06%. Among the session’s top performers was Tokyo Electron Ltd.,

Fidelity Japan Trust

Japan stocks rebound amid Yen stability

Japan’s Nikkei and Topix indices experienced a boost, driven by a stabilised yen, which provided a lift to export-focused stocks like Sony and Toyota. The Nikkei climbed by 0.5% to reach 38,288.62, while the Topix increased

Fidelity Japan Trust

Nikkei index rebounds strongly after initial setback

Japanese markets have bounced back strongly after a sharp downturn triggered by the Bank of Japan’s rate rise two weeks ago. The Nikkei index, after experiencing significant losses, has now enjoyed its second strongest trading day

Fidelity Japan Trust

Japanese stocks surge amid calmer market conditions

Japanese stocks rebounded on Tuesday following a severe drop the previous day, with the Nikkei 225 index rising by 10.23% to 34,675.46. This increase moved the index just above the bear territory it had entered after