All the Board members are independent, Non-Executive Directors.

Harry Wells

Non-executive Director and Chairman

Harry Wells has over 40 years' experience of investment markets, primarily as an institutional stockbroker specialising in the Asia Pacific region, based in London and Hong Kong, latterly as a Managing Director of Salomon Smith Barney. He has extensive experience as an investment trust director and was previously Chairman of  Martin Currie Asia Unconstrained Investment Trust PLC and The Establishment Investment Trust PLC. Harry holds an MA degree in Land Economy from Cambridge University and is a Fellow of the Chartered Institute for Securities and Investment and a Member of the Royal Institution of Chartered Surveyors.

Kate Cornish-Bowden

Non-executive Director and Chair of the Audit and Risk Committee

Kate worked for Morgan Stanley Investment Management for 12 years, where she was a Managing Director and head of Morgan Stanley Investment Management’s Global Core Equity business. Prior to joining Morgan Stanley, Kate worked for M&G Investment Management where she spent two years as a research analyst. Kate is a non-executive Director of Schroder Oriental Income Fund Limited, a non-executive Director of Finsbury Growth & Income Trust plc and a non-executive Director and Chair of the Audit Committee of Calculus VCT plc. Kate is an Associate of the Institute of Investment Management and Research (formerly AIMR, now Chartered Financial Analyst Institute), holds a Masters in Business Administration (MBA), and has completed the Financial Times Non-Executive Director Diploma. She is also a Mentor for The Prince’s Trust.

John Scott

Non-executive Director

John has considerable experience of both Asian markets and of the investment trust sector. He is also Chairman of the specialist trusts, Impax Environmental Markets plc, JP Morgan Global Core Real Assets plc and Jupiter Emerging and Frontiers Income Trust plc, and Chairman of the Lloyd’s Members’ agent, Alpha Insurance Analysts.

His other Directorships include a Guernsey registered business, Bluefield Solar Income Fund Ltd. John started his career in Hong Kong with Jardine Matheson in 1974 and joined investment bank, Lazard Brothers in London in 1981, where he spent 20 years, including three years in Tokyo.

John is a Fellow of the Chartered Insurance Institute. He has a degree in Economics from Cambridge University and an MBA from INSEAD, France.

Mark Smith

Non-executive Director

Mark is an investment manager at Waverton Investment Management (formerly known as J O Hambro Investment Management) which he joined in 2002. He manages portfolios for both UK and international clients and is a Japanese equity specialist and a member of the Stock Selection Committee. Prior to joining Waverton, Mark spent a number of years in institutional fund management specialising in Japanese equities, firstly at Provident Mutual but mainly at Foreign & Colonial where he worked for five years, ultimately managing large Japanese equity funds. Mark graduated from Exeter University in 1994 with a degree in Spanish, has passed his IIMR exams and is an Associate of the Institute (now CFA).

Peter Wolton

Non-executive Director and Senior Independent Director

Peter has wide experience of Japan and the investment trust sector. He was resident in Tokyo from 1994 to 1998 where he was responsible for Schroders’ asset management activities and, from 1996, Schroders’ Country Head. He is a former director of Dunedin Income Growth Investment Trust plc, TR Property Investment Trust plc and Schroder Japan Growth Fund plc.

He commenced his career with Savills, qualifying as a Chartered Surveyor in 1980. From 1983 until 2001 he worked for Schroders, specialising in the management of UK equity portfolios for pension funds and charities until 1993 when he was transferred to Japan. From 1998 to 2001 he headed Schroders’ global retail businesses and from 2002 to 2003 was Chief Executive Officer of the Investment Management Group of Baring Asset Management.

Peter has degrees in Land Economy from Cambridge University and Contextual Theology from Middlesex University.