Jpmorgan Japanese Invest... Share Discussion Threads

[2wild] 08/12/2024 11:03

JFJ 5 Dec NAV 664.33p
At 580p discount 12.7%

Wonder why dividend policy consultation is dragging on so long. An email and telephone follow up call with the top 10 to 15 shareholders shouldn't take long.

[ygor705] 11/11/2024 11:38

Thanks Neilyb645.

[neilyb675] 10/11/2024 13:15

Dividend policy

The Company is managed to produce capital growth and not to produce any particular level of dividend and therefore the level of dividend will vary. The Company currently has a policy of paying out the majority of revenue available each year. The dividend reflects the available revenue for distribution each year and accordingly there are likely to be fluctuations year on year.

The Board notes that JSGI has paid an enhanced dividend since 2018. Following completion of the Transaction, the enlarged Board intends to undertake a review of JFJ's dividend policy, including consulting with JFJ's major shareholders.

[ygor705] 10/11/2024 12:52

Has anybody seen anything about dividend policy for the enlarged trust?

[ygor705] 28/9/2024 06:18

Looks like the company is buying back its own shares to stabilise the discount to NAV prior to merger day. Gearing looks to be going down so they must be selling off stock to fund it. The portfolio reorganisation is therefore already underway! Has anybody seen comment on what the dividend yield of the merged entity is likely to be?

[ygor705] 06/8/2024 08:06

Short term prospects for the local market look likely to be a bit chaotic but I can't see the Americans being too unsupportive of Japan as they will be an increasingly important cog in the western alliance. Rate cuts in the US look increasingly likely and this should stop the steady rot in the yen that has been going on for years and provide the foundations for a broader recovery in the Japanese economy. The Japs have some world class technology companies where product price is perhaps secondary to both availability and reliability. They can live with (but may not like) a firmer exchange rate! I'm quite encouraged by what has been going on over the past few days. In my view, what we are witnessing is the effects of an unwind of an unhealthy pattern of cheap borrowing in yen to finance non-yen spending and the covering of short yen positions. My anticipation is for a recovery from yesterday's upheavals and an opportunity to make some decent medium term investment. The reorganisation of this trust is timely as the merger and partial liquidation of the small companies trust that it is merging with will force management to update its investment strategy.

[brwo349] 05/8/2024 06:47

this wont be pretty

[spangle93] 31/7/2024 21:42

Citywire summary of merger proposal

[spangle93] 31/7/2024 08:14

Proposed merger with JSGI



From first read the benefits to all shareholders are highlighted (reduced fee percentage, increased scale) but it appears to be much more directly beneficial to JSGI holders than JFJ, since they get a chance to redeem part of their holding and also close their larger discount

[spangle93] 02/6/2023 08:13

More Kepler research

Dividend: "4% of NAV on the share price at the time of writing would equate to 4.6% thanks to the significant Discount, which underlines the value in the shares"


Also today, the half-year report


They see positives in both the japanese economy and companies, so who knows, maybe on this cycle, the 500p barrier might crack.

[spangle93] 03/3/2023 20:13

Updated Kepler research - they think Japan could be a good country to be in during 2023, and that although volatile risky, "for investors with a long-term time horizon, we think JFJ is an attractive way to benefit from the exciting growth potential in Japanese companies."

[spangle93] 30/5/2022 12:31

Not a pretty graph

Latest Kepler study says it's all related to US interest rate rises rather than intrinsic fortunes of the holdings.

[lozzer69] 22/2/2022 09:56

Down 30pc from ATH. Still hanging in here as surely Japan will start to rise as lots of so called experts predict.

[thamestrader] 05/10/2021 08:26

...and in a reversal of fortunes, JFJ is recently performing somewhat worse than my Japan tracker (SJPA). Some of its holdings must have turned toxic.

[thamestrader] 13/9/2021 08:55

Looking much better of late. Related to change of Japan's leadership it seems.

[nod] 17/5/2021 07:01

Perhaps down to the increase of Covid cases in Japan and the fear of economic impact. Several Asian countries that were doing so well have been hit by recent outbreaks. Japan, Taiwan, Thailand, ..The WHO warning about 2021 has cast a cloud over exporting countries.

[lozzer69] 13/5/2021 11:15

Now down over 20 pc from ath. Still a hold for me but disappointed with recent performance.

[lozzer69] 08/3/2021 08:35

Down from a high of 744 this has taken quite a hit. But still a long term hold for me.

[loganair] 05/12/2020 14:57

JPMorgan Japanese:


For the neutral observer, it’s good to see Baillie Gifford is not getting its way everywhere and in Japan we have a bit of an upset for the company. A ‘blockbuster’ 12 months to the end of August saw last year’s third-placed JPMorgan Japanese (JFJ) overtake former sector leader Baillie Gifford Japan (BGFD) to win our award this year.

Stifel analyst Anthony Stern was impressed with JFJ’s 20% growth in net asset value for the financial year, not just because it trounced the 1% dip in Japan’s Topix index (in sterling terms), but because Nicholas Weindling and Miyako Urabe’s portfolio of growth stocks proved comparatively defensive in the coronavirus crash, declining 15% in the February-March sell-off, which was about half the descent of rivals BGFD and Fidelity Japan Values (FJV).

Although the other two trusts have rebounded faster since then, JFJ’s 42% rally from the March lows is still impressive and, combined with its earlier resilience, leaves it with the best three-year NAV return and information ratio, with BGFD not making it into the short list although the smaller companies focused Baillie Gifford Shin Nippon does.

[ekuuleus] 13/10/2020 05:54

indeed.

I'm shocked by the very strong performance on this in the last 6 months. More than double. Stunned.

[nod] 12/10/2020 22:59

Ekuuleus, yes I did thanks. It's frustrating that client records are not passed over when funds change hands. It's time consuming to get ID signed for just about everything we do these days. Meanwhile, the real money launderers in financial centres carry on.

[spangle93] 12/10/2020 19:34

Shin Nippon hasn't been too shabby either - wasn't it the biggest IT riser in September.

Nonetheless, Japan has definitely been the place to be over the last 2 months or so. I hold both these two ITs.

There is some overlap - 3 of the top 10 holdings for the two trusts are the same companies.

[lozzer69] 12/10/2020 13:57

Not sure anyone is on this post but bought into JFJ early this year. Very impressed with manager who was on a video chat. I like the fact that he and the team are in Tokyo and track record is impressive. Still on a discount unlike BG shin nippon.

[ekuuleus] 29/1/2018 17:28

did you get that sorted nod?

[nod] 22/3/2017 08:34

A big fall here, don't know why. I haven't got my cash yet from JP Morgan. It's funny when you sell funds and you live overseas they always decide the fund managers don't have the appropriate identification verification information on their records. Yet, we've provided the identification required to the previous managers of the fund and sometimes the managers before them.I've lost track of the fund managers on this fund. It was Jardine Fleming, hence the JFJ ticker.Why do investor identification and verification records never get passed on when funds are sold? It's very time-consuming to get joint-holder documents verified by a JP or whoever.