BAILLIE GIFFORD SHIN NIPPONBAILLIE GIFFORD SHIN NIPPON
Baillie Gifford Shin Nippon aims to achieve long-term capital growth principally through investment in small Japanese companies which are believed to have above average prospects for capital growth.
In general, for the small companies that Shin Nippon invests in, we believe that the quality of management teams and their business strategies have more influence rather than macroeconomic factors.
Performance & Portfolio
Annual Performance to 30 June each year
Share Price 50.0% 23.7% 39.2% -6.2% 5.8% NAV 40.7% 19.4% 40.3% -5.4% 11.8% Index* 21.8% 23.6% 12.7% -6.1% 4.6%
All figures to 31/08/2020
Share Price 14.5% 29.6% 148.5% 688.0% NAV 12.4% 38.3% 155.7% 566.4% Index* -3.3% 1.8% 64.1% 164.9%
The value of your investment may go down as well as up, and you may not get back the amount you invested.
NAV is calculated with borrowings deducted at fair value for 1, 3 and 5 years and par value for 10 years.
*MSCI Japan Small Cap Index, total return, in sterling terms.
Performance source: Morningstar and relevant underlying index provider, total return.
Please bear in mind that past performance is not a guide to future performance.Performance - 31/08/2020The value of your investment may go down as well as up, and you may not get back the amount you invested.
Comparative Index - changed from an index comprising the Tokyo SE 2nd Section, the TOPIX Small Index and the JASDAQ Index, weighted by market capitalisation, in sterling terms, on 01/02/2010, to the MSCI Japan Small Cap Index, total return, in sterling terms. In the above graph, the indices have been chain-linked to form a single index.
The graph is rebased to 100.
Please bear in mind that past performance is not a guide to future performance.Unfortunately we were unable to load the chart. Please try again later.Discount - 31/08/2020The value of your investment may go down as well as up, and you may not get back the amount you invested.
If the graph shows negative figures this means that the share price is lower than the NAV at fair – this is known as trading at a Discount.
If the graph shows positive figures this means that the share price is higher than the NAV at fair - this is known as trading at a Premium.
Please bear in mind that past performance is not a guide to future performance.
Holdings - 31/08/2020
Fund % 1 Bengo4.com 4.7% 2 Demae-Can 4.0% 3 M3 2.8% 4 GMO Payment Gateway 2.8% 5 RakSul 2.7% 6 Nihon M&A 2.6% 7 Cosmos Pharmaceutical 2.5% 8 GA Technologies 2.4% 9 MonotaRO 2.3% 10 Shoei 2.2% Total 29.0%All holdings of 0.7% and above Fund % 1 Bengo4.com 4.7% 2 Demae-Can 4.0% 3 M3 2.8% 4 GMO Payment Gateway 2.8% 5 RakSul 2.7% 6 Nihon M&A 2.6% 7 Cosmos Pharmaceutical 2.5% 8 GA Technologies 2.4% 9 MonotaRO 2.3% 10 Shoei 2.2% Total 29.0%Sector Analysis of Total Assets - 31/08/2020Unfortunately we were unable to load the chart. Please try again later.Active Share - 31/08/2020Relative to MSCI Japan Small Cap Index. Source: Baillie Gifford & Co, MSCI.Unfortunately we were unable to load the chart. Please try again later.
InsightsAll insightsJune 2020
Japanese Smaller Companies Fund and Shin Nippon PLC – Manager Insights.
Praveen Kumar, investment manager of Japanese Smaller Companies Fund and Baillie Gifford Shin Nippon PLC, explains how Covid-19 will accelerate changes in the behaviour and working practices of corporate Japan and why this should result in numerous growth opportunities for fast-growing, nimble and disruptive smaller business.Fourth Quarter 2019
In The Eye Of The Beholder.
The Japanese spend more per person on skincare and cosmetics than any other country. Praveen Kumar, manager of the Baillie Gifford Shin Nippon Investment Trust, tells Gillian Christie what is different about Japanese cosmetic companies.Third Quarter 2019
Japan's Cutting Edge.
The qualities that give the best companies their advantage are not always obvious. Praveen Kumar, manager of Shin Nippon Investment Trust and deputy manager of the Baillie Gifford Japan Trust, outlines the ingredients of lasting success.ARCHIVEDApril 2018
Shin Nippon Seeing Broad Portfolio Strength.
Praveen Kumar, portfolio manager, explains how a tight employment market and developments in healthcare are driving stock selection in the Shin Nippon portfolio. He also outlines some of the areas that contributed significantly to the performance over the past 12 months, as well as those which offer exciting prospects for the future.
View all Insights.
Meet the Managers
Praveen joined Baillie Gifford in 2008 and is an Investment Manager in the Japanese Equities Team. He previously worked for FKI Logistex. Praveen graduated BEng in Computer Science from Bangalore University in 2001 and gained an MBA from the University of Cambridge in 2008.
How to Buy
You can invest in a range of our funds via a number of fund platforms and supermarkets, please see the links opposite. Further information on the funds can be found in the relevant Key Investor Information and Prospectus Documents, which are available in English and will be sent to you free of charge on request. Information on the range of funds available through platforms can be found in our Platform Matrix.
Baillie Gifford does not sponsor, maintain or have any control over the content of any other websites. Therefore, we are not responsible for the adequacy or accuracy of any of the information you may view, nor do we undertake to ensure successful transmission to any linked website.
You can access any literature about the Fund here, either by downloading or requesting a copy by post (where available). To download any document you will need Adobe Reader. Please note that we can now provide you with Braille and audio transcriptions of our literature on request. It may take up to 10 days for the transcription to be completed dependent on the size of the document.
Investor Disclosure Document
Key Information Document
Other Fund Literature
Philosophy and Process Documents
Any investment in an investment trust involves risk. You should be aware of the following risks when considering investing.
Past performance is not a guide to future performance.
The value of your investment
The investment trusts managed by Baillie Gifford & Co Limited are listed UK companies and are not authorised or regulated by the Financial Conduct Authority. The value of their shares, and any income from them, can fall as well as rise and investors may not get back the amount invested.
The Trust invests in overseas securities. Changes in the rates of exchange may also cause the value of your investment (and any income it may pay) to go down or up.
The Trust can borrow money to make further investments (sometimes known as “gearing” or “leverage”). The risk is that when this money is repaid by the Trust, the value of the investments may not be enough to cover the borrowing and interest costs, and the Trust will make a loss. If the Trust's investments fall in value, any invested borrowings will increase the amount of this loss.
The Trust can buy back its own shares. The risks from borrowing, referred to above, are increased when a trust buys back its own shares.
Market values for securities which have become difficult to trade may not be readily available and there can be no assurance that any value assigned to such securities will accurately reflect the price the Trust might receive upon their sale.
The Trust can make use of derivatives to obtain, increase or reduce exposure to assets and may result in the Trust being leveraged. Derivatives are most often used to compensate for possible unfavourable currency and market movements. This may result in greater movements (down or up) in the net asset value of the Trust. It is not our intention that the use of derivatives will significantly alter the overall risk profile of the Trust. A further risk exists in respect of the counterparty with whom the derivative transaction is made. Due care and diligence is exercised in the selection of counterparties, however, the possibility of the counterparty failing to pay sums due to the Trust still remains.
Investment in smaller companies
Investment in smaller companies is generally considered higher risk as changes in their share prices may be greater and the shares may be harder to sell. Smaller companies may do less well in periods of unfavourable economic conditions.
Single country trust
The Trust’s exposure to a single market and currency may increase risk.
The Trust's risk could be increased by its investment in unlisted investments. These assets may be more difficult to buy or sell, so changes in their prices may be greater.
Charges to income
Charges are deducted from income. Where income is low, the expenses may be greater than the total income received, meaning the Trust may not pay a dividend and the capital value would be reduced.
Unlikely to achieve income
The aim of the Trust is to achieve capital growth and it is unlikely that the Trust will provide a steady, or indeed any, income.
You should note that tax rates and reliefs may change at any time and their value depends on your circumstances.
The Trust is listed on the London Stock Exchange and is not authorised or regulated by the Financial Conduct Authority.
Information subject to change
The information and opinions expressed within this website are subject to change without notice.
Not Investment Advice
This information has been issued and approved by Baillie Gifford & Co Limited and does not in any way constitute investment advice.
Suitability for retail distribution
Please note that the Company currently conducts its affairs, and intends to continue to conduct its affairs, so that the Company’s ordinary shares can be recommended by Independent Financial Advisers to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream pooled investment products (NMPI). The Company’s ordinary shares are excluded from the FCA’s restrictions which apply to non-mainstream pooled investment products because they are shares in an investment trust.
Source: MSCI. The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an ‘as is’ basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the ‘MSCI Parties’) expressly disclaims all warranties (including, without limitation, any warranties or originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages (www.msci.com)