Invesco to buy back 45% of Japan shares

The Invesco-managed GT Japan investment trust is prepared to buy back up to 45% of its shares to reduce the discount to NAV. Existing shareholders will be able to sell back at a 6% discount to NAV following a prolonged period of volatility in the Japanese market. As of last week the trust was on a discount of around 10% with an NAV of approximately 290.8p per share. The buy-back decision will be ratified at an emergency general meeting which is to be held on 11 October Managing director of specialist funds at Invesco, Graeme Proudfoot said: "The Japanese market has been pretty volatile o...