Alliance Trust PLC - FTSE 250-listed investment trust that aims for long-term capital growth and income from investing in global equities - Portfolio will move to a marginal overweight position on Japan, relative to its benchmark, as investment manager Willis Towers Watson appoints Japan specialist Dalton Investments LLC a stock picker. Dalton will be allocated 4% of the capital of the fund and will take its number of stock pickers up to ten.

"Dalton is a value-focused, employee-owned manager that looks to exploit mispricing opportunities in the most under-researched companies in Japan, which generally steers its focus to small and mid-cap companies," Alliance Trust says.

The Tokyo stock market has been one of the best performers globally in 2023 so far. The Nikkei 225 is up 27% in the year to date.

Current stock price: 1,034.80 pence, down 0.1%

12-month change: up 8.8%

By Tom Waite, Alliance News editor

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