Murray Johnstone's new Murray Yen Equities Fund is an open ended investment company that invests in Japan.
The fund aims to produce capital growth by investing in a wide range of Japanese securities and uses Yen as its base currency. It is a yen dominated version of the existing Murray Japan growth fund.
The fund is targeted at investors who want to invest in Japan but who want to minimise currency risk. Instead of consumers putting their money in via Sterling or Euros and seeing potential losses via currency fluctuation, the investment will go straight into Japanese Yen.
One of the drawbacks of investing in countries outside the UK is the possibility that the native currency of the investor will depreciate against the currency of the country that they wish to invest in. The Yen equities fund will avoid this problem.
According to Standard & Poor's Micropal the Murray Japan Growth fund is ranked 11 out of 69 funds, based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years to June 19, 2000.