BAILLIE GIFFORD JAPAN TRUSTBAILLIE GIFFORD JAPAN TRUST
The Baillie Gifford Japan Trust aims to pursue long-term capital growth principally through investment in medium to smaller sized Japanese companies, which are believed to have above average prospects for growth.
The Trust is the longest established existing Japanese investment trust, having survived the ebb and flow of corporate activity in the Japanese sector over the last 30 years.
Performance & Portfolio
Annual Performance to 30 June each year
Share Price 6.2% 39.6% 26.1% -5.4% -1.8% NAV 14.5% 26.5% 27.0% -3.8% 6.8% Index* 9.5% 24.2% 9.5% -2.1% 6.1%
All figures to 31/08/2020
Share Price 3.7% 15.4% 84.6% 434.1% NAV 6.9% 23.7% 98.5% 352.2% Index* -0.1% 7.2% 54.7% 127.5%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.
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 SoftBank 7.0% 2 GMO Internet 3.4% 3 Rakuten 3.4% 4 SBI Holdings 2.8% 5 Kubota 2.6% 6 mixi 2.6% 7 Sysmex 2.6% 8 CyberAgent 2.4% 9 Itochu Corp. 2.3% 10 Sony 2.3% Total 31.5%All holdings of 0.7% and above Fund % 1 SoftBank 7.0% 2 GMO Internet 3.4% 3 Rakuten 3.4% 4 SBI Holdings 2.8% 5 Kubota 2.6% 6 mixi 2.6% 7 Sysmex 2.6% 8 CyberAgent 2.4% 9 Itochu Corp. 2.3% 10 Sony 2.3% Total 31.5%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 TOPIX. Source: Baillie Gifford & Co, Tokyo Stock Exchange.Unfortunately we were unable to load the chart. Please try again later.
InsightsAll insightsFourth 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.Fourth Quarter 2019
Japan Trust - Manager Update.
Investment manager Matthew Brett gives an update on the position of The Baillie Gifford Japan Fund PLC and discusses some examples of companies within the portfolio that show exciting growth potential.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.Third Quarter 2018
The Great Convergence of Medicine.
The future of medicine is likely to be fundamentally different from what we know today. Investment Manager, Rose Nguyen, discusses the technological advances that are likely to transform life science in the coming decades.ARCHIVEDAutumn 2018
The Bright Side of Japan's Labour Crunch.
Innovation is often born out of necessity. Praveen Kumar, manager of Baillie Gifford Shin Nippon and deputy manager of the Baillie Gifford Japan Trust, tells Joji Sakurai that Japan’s staff shortages have sparked creativity and investment opportunities.
View all Insights.
Meet the Managers
Matthew Brett - Manager
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.
Praveen Kumar - Deputy Manager
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 Invest
You can invest in our funds via a number of fund platforms and supermarkets, please see the links opposite. Information on the range of funds available through platforms can be found in our Platform Matrix
Further information on our 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.
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.
How to Invest
Getting Financial Advice
At Baillie Gifford we don’t provide financial advice, but we do try our best to provide you with all the information we think you might need to make investment decisions. Of course, we realise there are occasions when you may want the advice of an expert.
Using professional financial advice
An authorised intermediary can give you advice and help on how best to manage your financial affairs based on your circumstances and investment aspirations. They can also help keep track of all your different investment interests, saving you a lot of time and bookkeeping.
Finding a financial adviser near you
If you want to use an authorised intermediary, MyLocalAdviser is a website that allows you to search for authorised intermediaries in your area. You can visit their site on www.mylocaladviser.co.uk
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.
Fund Ratings Reports
Investor Disclosure Document
Key Information Document
Other Fund Literature
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.
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.
Income is less important
The aim of the Trust is to achieve capital growth. You should not expect a significant, or steady, annual income from the Trust.
Shareholders in the Trust have the right to vote at the Annual General Meeting on whether to continue the Trust or wind it up. If the shareholders decide to wind the Trust up, the assets will be sold and you will receive a cash sum in relation to your shareholding.
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.
The TOPIX Index Value and the TOPIX Marks are subject to the proprietary rights owned by Tokyo Stock Exchange, Inc. and Tokyo Stock Exchange, Inc. owns all rights and know-how relating to the TOPIX such as calculation, publication and use of the TOPIX Index Value and relating to the TOPIX Marks. No Product is in any way sponsored, endorsed or promoted by Tokyo Stock Exchange, Inc.