Travers Smith LLP has advised Nippon Active Value Fund in connection with its simultaneous mergers with abrdn Japan Investment Trust and Atlantis Japan Growth Fund Limited, resulting in a combined fund with net assets of c. £300 million.
Since the date of its IPO (21 February 2020), NAVF has been the top performing Japanese investment trust.
Travers Smith also advised on the transfer of NAVF's listing from the Specialist Fund Segment to the Official List on 20 September 2023.
The Travers Smith team was led by Partner Aaron Stocks and also included Senior Counsel Stuart MacKenzie and Associates Patrick Burrows and Ria Shah.
Aaron Stocks commented:
"We are delighted to have advised NAVF on this innovative dual-merger, supported by a single prospectus. We think it is unique to have combined an English s110 restructuring and the Guernsey equivalent in this way. As a result of the mergers, NAVF is well placed to continue to execute its activist strategy, consolidate its market-leading position and has the scale to attract a wider universe of investors."
