Close Finsbury Jap Eq income share class comes to fruition

Close Finsbury Asset Management is offering an income share class on Mike Lindsell's Japanese Equity...

Close Finsbury Asset Management is offering an income share class on Mike Lindsell's Japanese Equity fund, as first reported in Investment Week last December.

At present, the fund yields 1.5%, more than 70% higher than the market.

Dividends are expected to rise further owing to changes in market ownership in Japan that are increasing management efforts to boost shareholder returns, according to Lindsell.

The vehicle is run with a concentrated portfolio of 20-30 stocks with Lindsell targeting firms that have good medium-term growth prospects, strong balance sheets and attractive valuations.

Minimum investment on the income share class is £50,000 with subsequent top-ups of £1,000.

The Japan fund suffered huge outflows in 2004 as former manager Scott McGlashan left for JO Hambro Capital Management.

Close also added an income share class to its European fund, run by Charles Glasse and Christopher Garsten, earlier in the year.