Investment trusts at five-year high

JIJI

The net asset value of publicly offered investment trust funds in Japan rose 6.9 percent in April to hit a five-year high of ¥77.67 trillion, the Investment Trusts Association said.

The outstanding asset balance extended its rising streak to an 11th month. It touched ¥79.67 trillion in December 2007.

The asset growth resulted from higher returns on stock investment trusts thanks to stock rallies in line with the yen’s weakening following the Bank of Japan’s announcement of massive easing steps in early April.

In April, the returns totaled a record ¥3.69 trillion, while the total value of newly established investment trusts reached a monthly record of ¥11.42 trillion.

At the same time, cancellations grew to ¥9.98 trillion, the highest level in 11 years and four months.