Nippon Active Value Fund PLC on Thursday reported net asset value growth for 2022.

The London-based Japanese small-cap-investment trust said its net asset value per share at December 31 was 140.5 pence, up 1.9% from 137.9p in 2021. Its NAV total return per share was 3.5%, down compared to 22.3% the year prior, nut outperforming the Japan Small Cap index’s negative 1.6%.

Nippon declared an interim dividend for the end of 2022 of 3.20p per share, up 64% from 1.95p in 2021, payable on May 26.

Chair Rosemary Morgan said: ‘Our investment adviser will continue to seek out undervalued opportunities with the potential to unlock value to all shareholders, a strategy which we believe can generate strong absolute returns in a wide range of market environment’.

Shares were up by 0.5% at 139.75 pence in London on Thursday afternoon.

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