Morant Wright Japan Income trust Nav falls 5.35%

The Nav of the Morant Wright Japan Income trust fell 5.35% over 13 months from launch to the end of ...

The Nav of the Morant Wright Japan Income trust fell 5.35% over 13 months from launch to the end of December 2006 while its share price dropped 3% over the period. While the fund is not measured against any particular benchmark, over the same period, after adjusting for the decline in the yen against sterling, the Topix fell 3.2% and the Topix Small Companies index declined 14.5%. Managers Stephen Morant and Ian Wright said nearly all sterling-based equity investors in Japanese equities suffered over the period with the trust among the better-performing vehicles during 2006. They said...