Nippon Active Value Fund (NAVF) has delivered a strong performance so far this year, with its net asset value (NAV) advancing well ahead of peers in the Japanese smaller companies sector.

In the Q1 2025 update below, Gifford Coombs and Paul ffolkes Davis update investors on progress made in Q1 with a particular focus on events at Fuji Media Holdings

According to data from the Association of Investment Companies, NAVF’s NAV total return over the past 12 months to 7 August stood at +28.3%, compared with +26.6% for the sector average. More recent figures underline the momentum, with the trust posting an 11% NAV gain between May and July, its best quarterly return in the past year.

Over the four most recent quarters, NAVF recorded returns of +5.9%, +4.6%, +2.0% and +11.0% respectively. This steady climb reflects both its concentrated exposure to undervalued Japanese equities and its activist approach to unlocking shareholder value.

The trust has recently attracted attention for its campaign at Fuji Media Holdings, where it is backing an overhaul of the board in the wake of a corporate scandal. Meanwhile, its decision to issue new shares at a premium to NAV underlines continued investor demand.

NAVF’s robust NAV performance in 2025 positions it among the strongest performers in its sector, reinforcing its credentials as one of the more aggressive activist vehicles in the UK-listed Japan investment trust space.

In the Q1 2025 update below, Gifford Coombs and Paul ffolkes Davis update investors on progress made in Q1 with a particular focus on events at Fuji Media Holdings