Atlantis Japan Growth agrees merger with Nippon Active Value

Partial exit opportunity

The board of Atlantis Japan Growth fund (AJGF) has agreed to a proposed merger with the Nippon Active Value fund (NAVF).

In a stock exchange notice today (11 August), the board said the proposal provides shareholders with access to a "focused and differentiated" strategy, a partial cash exit option and a larger continuing investment trust with the prospect of improved liquidity. The cash exit opportunity is of up to 25% of the trust's shares in issue, providing shareholders with the ability to realise part - or potentially all - of their investment at a 2% discount to formula asset value per ordinary share. According to the Association of Investment Companies, the Atlantis Japan Growth fund,  managed by...