Murray Johnstone is offering a version of its Japan Growth Oeic sub-fund denominated in yen. By hold...
Murray Johnstone is offering a version of its Japan Growth Oeic sub-fund denominated in yen.
By holding the base currency of the fund in yen, investors will not be incurring any extra currency risk by investing in a sterling fund which then invests in yen equities. Since the initial issue of shares in February 2000 the fund has attracted ¥1.036bn or £6.48m from investors. The front end charge into the fund 5% and the annual management fee is 1.5%.
Graeme Sinclair, manager of Murray Yen Equities, said: "We have seen most interest from European investors wishing to increase exposure to Japan without exposing themselves to sterling currency risk. There has been particular interest from Swiss banks and European institutions who want to invest in Japanese funds run by UK investment managers."
Sinclair also runs the fund's sister vehicle, Murray Japan Growth. Looking forward he said that both funds will focus on growth stocks and selective growth ideas. Over three years to 31 May the fund is ranked nine out of 69 in the Standard & Poor's Japan peer group. In that period its shares rose 72.1% against an average of 41.4%.
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