-
-
Overview
The Japanese Income Growth Fund aims to outperform (after deduction of costs) the TOPIX, as stated in Sterling, by at least 1% per annum over rolling five-year periods through a combination of income and capital growth whilst maintaining a portfolio yield higher than the TOPIX. There is no guarantee that this objective will be achieved over any time period and actual investment returns may differ from this objective, particularly over shorter time periods.
The manager believes this is an appropriate benchmark given the investment policy of the Fund and the approach taken by the manager when investing. In addition, the manager believes an appropriate performance comparison for this Fund is the Investment Association Japan Sector.
Our fund aims to generate strong long-term total returns as well as provide investors with a higher yield than the Japanese market.
Portfolio
Top Ten Holdings - 30/09/2020
Fund % 1 SoftBank 5.3% 2 GMO Internet 3.7% 3 DENSO 3.6% 4 SBI Holdings 3.6% 5 Kubota 3.1% 6 mixi 2.8% 7 Nintendo 2.8% 8 Pola Orbis 2.7% 9 FANUC 2.6% 10 MS&AD Insurance 2.5% Total 32.5% Fund % 1 SoftBank 5.3% 2 GMO Internet 3.7% 3 DENSO 3.6% 4 SBI Holdings 3.6% 5 Kubota 3.1% 6 mixi 2.8% 7 Nintendo 2.8% 8 Pola Orbis 2.7% 9 FANUC 2.6% 10 MS&AD Insurance 2.5% Total 32.5% SECTOR ANALYSIS OF TOTAL ASSETS - 30/09/2020As the Fund invests in overseas securities, changes in the rates of exchange may cause the value of your investment (and any income it may pay) to go down or up.
The information contained on this page is intended as a guide only and should not be relied upon when making investment decisions. All holdings information is unaudited. Source Baillie Gifford & Co.
Please note that totals may not add due to rounding.Unfortunately we were unable to load the chart. Please try again later.Insights
View all Insights.September 2020Japanese Equities Introduction.
Members of the Japanese Equities Team explain the philosophy and processes of the strategies that exist within Baillie Gifford’s Japanese Equities capabilities.
WatchJapanese Income Growth Fund - Square Mile Talking Factsheet.Japanese Income Growth Fund - Square Mile Talking Factsheet.
This film was created and distributed by Square Mile as part of their Talking Factsheets series.
WatchARCHIVEDThird Quarter 2019Japanese Income Growth Fund - Manager Update.
Karen See, joint manager of the Japanese Income Growth Fund, discusses the fund since its inception three years ago, and some key characteristics of the portfolio.
WatchARCHIVEDFourth Quarter 2018.The Unlisted Opportunity in Japan.
Although Japan appears to be late to the unlisted party, there are promising signs of change. Andrew Brown considers how investors should approach unlisted opportunities in Japan to help clients gain access to the most exciting growth businesses.
Read moreARCHIVEDFourth Quarter 2018Japan's Return to Dividends.
Japan often has a reputation for low dividend payments. Investment Manager, Karen See explains why this has not always been the case in the past and might not be in the future.
Read moreARCHIVEDMay 2018Celebrating Inefficiency: The Market's, Not Ours.
By being nimble and patient, by joining the dots to find left of field insights and by looking at the world through both a telescope and a microscope, we can find opportunities in corporate bond markets that others may miss. Discover how we go about this.
WatchView all Insights.
Meet the Managers
Matthew Brett
Matthew is an Investment Manager in the Japanese Equities Team. He is manager of the Japanese All Cap Strategy and Lead Manager of the Japanese Income Growth Strategy. He is also a member of the Global Stewardship Portfolio Construction Group. Matthew joined Baillie Gifford in 2003 and became a Partner in 2018. He is a CFA Charterholder. Matthew graduated BA (Hons) in Natural Sciences (Psychology) from the University of Cambridge in 2000 and holds a PhD in Psychology from the University of Bristol.
Karen See
Karen joined Baillie Gifford in 2012 and is an Investment Manager in the Japanese Equities Team. She is a CFA Charterholder and graduated BSc (Hons) in Economics with Japanese from the University of Birmingham in 2011.
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.
Fund Platforms/Supermarkets
OEIC Terms of Business
To buy and sell our funds, you must complete and return a copy of the document below, if you don't already have an agreement with us. In order for us to accept your business for our range of OEICs, please complete and return the Terms of Business Acceptance Form.
Documents
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.
Application Forms
Bulletins and Factsheets
Enhanced Disclosure Document
Fund Ratings Reports
Key Investor Information Documents
Philosophy and Process Documents
Risks
General Investment Risk
Investment markets can go down as well as up and market conditions can change rapidly. The value of an investment in the Fund, and any income from it, can fall as well as rise and investors may not get back the amount invested.
Custody
Custody of assets involves a risk of loss if a custodian becomes insolvent or breaches duties of care.
Single Country
The Fund’s exposure to a single market and currency may increase share price movements.
Foreign Currency
The Fund has exposure to foreign currencies and changes in the rates of exchange will cause the value of any investment, and income from it, to fall as well as rise and you may not get back the amount invested.
Volatility
The Fund’s share price can be volatile due to movements in the prices of the underlying holdings and the basis on which the Fund is priced.
Dilution
A dilution adjustment may apply when you buy or sell shares in the Fund. This is applied to the share price and may reduce the return on your investment.
Fees to capital
For distribution purposes the ACD has the facility to allocate part or all of the Authorised Corporate Director’s (ACD) fee to capital. This will reduce the capital value of the Fund. For the year to 30 June 2019 100% of expenses were allocated to capital. The figure for the current financial period has not yet been determined however this number may vary from year to year.
Tax Rates
Tax rates and the tax treatment of OEICs can change at any time.