JPMorgan Fleming Japanese Smaller Companies Investment Trust tops table

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JPMorgan Fleming Japanese Smaller Companies Investment Trust tops table

The JPMorgan Fleming Japanese Smaller Companies Investment Trust has topped performance tables for 2005, up by 112 per cent on the previous year.

Despite the "recent panic" concerning the Japanese stock market, the bank says there is "still an upturn in the Japanese economy and market".

David Mitchinson, manager of the JPMorgan Fleming Japanese Smaller Companies Investment Trust, said: "The loose interest rate environment and extensive macro and company-specific restructuring in recent years have left Japanese stocks looking attractively valued."

He went on to say that as a result of recent "small cap shakeouts" many business in Japan were available to buy at a low price and that this was a "backdrop for good performance going forward".

The statistics for the top performing funds and trusts were compiled by the Association of Investment Trust Companies.

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