The Fund’s total returns for various periods through April 30, 2018 are provided below. (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees):
Cumulative as of 04/30/18
Annualized as of 04/30/18
1 Month
3 Month
YTD
1 Year
3 Years
5 Years
10 Years
Since
Inception
NAV
-2.2
-5.1
0.0
16.7
8.4
10.3
4.6
2.5
Market
Price
-0.9
-4.0
0.4
16.5
8.3
10.0
4.2
2.0
TOPIX
0.6
-2.6
1.6
20.7
9.1
8.5
4.4
3.6
On April 30, 2018, the Fund’s net assets amounted to US$135.8 million and the Fund’s NAV per share was US$10.14.
As of April 30, 2018, the portfolio was invested as follows:
Portfolio Composition
Percent of
Net Assets
Consumer Staples
19.1
Industrials
18.7
Consumer Discretionary
14.3
Information Technology
12.4
Health Care
11.3
Materials
9.9
Financials
6.9
Real Estate
3.5
Telecommunications
2.6
Cash
1.3
The Fund’s ten largest equity holdings as of April 30, 2018, representing 38.1% of net assets, were:
Stock
Percent of
Net Assets
Shin-Etsu Chemical
5.4
Keyence Corp.
4.8
Shiseido Co. Ltd.
3.8
Sysmex Corp.
3.7
Pigeon Corp.
3.6
Fanuc
3.6
Amada Holdings
3.5
Seven & I Holdings
3.4
Nabtesco Corp.
3.2
Yahoo Japan
3.0
Important Information Aberdeen Asset Management Inc. (the “Administrator”) has prepared this report based on information sources believed to be accurate and reliable. All reasonable care has been taken to ensure accuracy. However, the figures are unaudited and neither the Fund, the Administrator, Aberdeen Asset Management Asia Limited (the “Investment Manager”), nor any other person guarantees their accuracy. Investors should seek their own professional advice and should consider the investment objectives, risks, charges and expenses before acting on this information. The Investment Manager and the Administrator are each a subsidiary of Aberdeen Asset Management PLC (“Aberdeen PLC”).
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund’s investment return and principal value will fluctuate so that an investor’s shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund’s portfolio. There is no assurance that the Fund will achieve its investment objective.
Total return figures with distributions reinvested at the dividend reinvestment price are stated net-of-fees and represents past performance. Past performance is not indicative of future results, current performance may be higher or lower. Holdings are subject to change and are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities shown. Inception date July 24, 1992.
The Fund’s total returns for various periods through April 30, 2018 are provided below. (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees):
Cumulative as of 04/30/18
Annualized as of 04/30/18
1 Month
3 Month
YTD
1 Year
3 Years
5 Years
10 Years
Since Inception
NAV
-2.2
-5.1
0.0
16.7
8.4
10.3
4.6
2.5
Market Price
-0.9
-4.0
0.4
16.5
8.3
10.0
4.2
2.0
TOPIX
0.6
-2.6
1.6
20.7
9.1
8.5
4.4
3.6
On April 30, 2018, the Fund’s net assets amounted to US$135.8 million and the Fund’s NAV per share was US$10.14.
As of April 30, 2018, the portfolio was invested as follows:
Portfolio Composition
Percent of Net Assets
Consumer Staples
19.1
Industrials
18.7
Consumer Discretionary
14.3
Information Technology
12.4
Health Care
11.3
Materials
9.9
Financials
6.9
Real Estate
3.5
Telecommunications
2.6
Cash
1.3
The Fund’s ten largest equity holdings as of April 30, 2018, representing 38.1% of net assets, were:
Stock
Percent of
Net Assets
Shin-Etsu Chemical
5.4
Keyence Corp.
4.8
Shiseido Co. Ltd.
3.8
Sysmex Corp.
3.7
Pigeon Corp.
3.6
Fanuc
3.6
Amada Holdings
3.5
Seven & I Holdings
3.4
Nabtesco Corp.
3.2
Yahoo Japan
3.0
Important Information Aberdeen Asset Management Inc. (the “Administrator”) has prepared this report based on information sources believed to be accurate and reliable. All reasonable care has been taken to ensure accuracy. However, the figures are unaudited and neither the Fund, the Administrator, Aberdeen Asset Management Asia Limited (the “Investment Manager”), nor any other person guarantees their accuracy. Investors should seek their own professional advice and should consider the investment objectives, risks, charges and expenses before acting on this information. The Investment Manager and the Administrator are each a subsidiary of Aberdeen Asset Management PLC (“Aberdeen PLC”).
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund’s investment return and principal value will fluctuate so that an investor’s shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund’s portfolio. There is no assurance that the Fund will achieve its investment objective.
Total return figures with distributions reinvested at the dividend reinvestment price are stated net-of-fees and represents past performance. Past performance is not indicative of future results, current performance may be higher or lower. Holdings are subject to change and are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities shown. Inception date July 24, 1992.
