Overview
Investment proposition
Share price and charges
Share class
B, Acc, JPYNAV per share
3,331.23% change
1.35%Ongoing charges*
0.80%Initial charge
0%Fund facts
Current number of holdings
55
Guideline number of holdings
35-55
Benchmark
TOPIX
Active share
79%**
Annual turnover
16%
Fund launch date
18 August 2014
Style
Growth
Fund Settlement Cycle
Trade date plus three business days (T+3)
Fund size calculated using base currency in Yen and converted into listed currencies.
**Relative to TOPIX Index. Source: Baillie Gifford & Co, TOPIX.
Meet the managers
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. The specific risks associated with the Fund include:
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 a foreign currency and changes in the rate 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.
Environmental, Social and Governance
The Fund's approach to Environmental, Social and Governance (ESG) means it cannot invest in certain sectors and companies. The universe of available investments will be more limited than other funds that do not apply such criteria/ exclusions, therefore the Fund may have different returns than a fund which has no such restrictions. Data used to apply the criteria may be provided by third party sources and is based on backward-looking analysis and the subjective nature of non-financial criteria means a wide variety of outcomes are possible. There is a risk that data provided may not adequately address the underlying detail around material non-financial considerations. Please consider all of the characteristics and objectives of the fund as described in the Key Information Document (KID) and prospectus before making a decision to invest in the Fund. For more information on how sustainability issues, such as climate change are considered, see bailliegifford.com.
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.
Further Details
Further details of the risks associated with investing in the Fund can be found in the Key Information Document (KID), or the Prospectus. Copies of both the KID and Prospectus are available at bailliegifford.com.
Definitions
Active Share - A measure of the Fund's overlap with the benchmark. An active share of 100 indicates no overlap with the benchmark and an active share of zero indicates a portfolio that tracks the benchmark.
Index disclaimer
Complaints
In the first instance, clients should contact their normal Client Contact with any concerns. Alternatively, or for those clients who do not have a direct client contact assigned, complaints can be emailed to Baillie Gifford’s Compliance Department at: InstitutionalComplaints@bailliegifford.com.
A summary document which contains details on Baillie Gifford’s complaints management policy is available upon request. All material complaints are recorded in an in-house incident management system and are escalated to, and dealt with by, members of staff of suitable seniority, independent of the area from which the matter arose.
Fund performance
Fund portfolio holdings
The list of top 10 holdings that this fund invests in.
As at: 30 April 2026
| # | Holding | % of total assets |
|---|---|---|
| 1 | SoftBank Group | 6.6% |
| 2 | Sumitomo Mitsui Trust | 5.0% |
| 3 | Murata Manufacturing | 4.5% |
| 4 | SBI Holdings | 4.5% |
| 5 | Keyence | 3.6% |
| 6 | Sony | 3.3% |
| 7 | MS&AD Insurance | 3.1% |
| 8 | SMC | 3.0% |
| 9 | FANUC | 2.8% |
| 10 | Tokyo Electron | 2.7% |
Sector
As at: 30 April 2026
# | Sector | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | Electric Appliances | 24.6 | 19.5 | 5.1 |
| 2 | Information & Communication | 13.4 | 6.4 | 7.0 |
| 3 | Machinery | 9.4 | 6.7 | 2.7 |
| 4 | Services | 8.5 | 2.9 | 5.5 |
| 5 | Chemicals | 7.7 | 4.7 | 3.0 |
| 6 | Wholesale Trade | 7.0 | 8.4 | -1.4 |
| 7 | Banks | 6.7 | 10.8 | -4.1 |
| 8 | Securities & Commodity Futures | 4.5 | 0.9 | 3.6 |
| 9 | Insurance | 3.1 | 3.3 | -0.2 |
| 10 | Other Products | 2.6 | 2.0 | 0.6 |
| 11 | Retail Trade | 2.4 | 4.0 | -1.5 |
| 12 | Rubber Products | 2.0 | 0.5 | 1.5 |
| 13 | Pharmaceutical | 1.8 | 3.5 | -1.7 |
| 14 | Other Financing Business | 1.7 | 1.2 | 0.5 |
| 15 | Nonferrous Metals | 1.5 | 3.0 | -1.5 |
| 16 | Real Estate | 1.1 | 1.9 | -0.8 |
| 17 | Transportation Equipment | 1.1 | 5.5 | -4.4 |
| 18 | Precision Instruments | 0.7 | 2.0 | -1.2 |
| 19 | Cash | 0.1 | 0.0 | 0.1 |
Total | 100.0 | 87.3 |
Quarterly transactions
Transactions for the three-month period ending 31 March 2026
New purchases
- Itochu Corp
- Nippon Paint
- Square Enix
Complete sales
- Omron
- Toyota Tsusho Corp
Insights
Key articles, videos and podcasts relating to the fund:
How to invest
You can invest in our funds through a wide range of investment platforms. If your preferred platform does not currently offer our funds, they may be made available upon request by contacting the platform directly.
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.
Documents
Documents
You can access any literature about the Fund here.
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.