Overview
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
Periodic Performance
All figures to 31/10/2023 1 Year
3 Years
5 Years
10 Years
Share Price -21.5% -52.4% -32.2% 79.5% NAV -17.9% -41.9% -19.1% 121.6% Index* 8.0% 3.9% 11.4% 106.2% Performance figures appear in GBP. 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.
Discrete Performance
Annual Performance to 30 September each year 30/09/2018
30/09/201930/09/2019
30/09/202030/09/2020
30/09/202130/09/2021
30/09/202230/09/2022
30/09/2023Share Price -11.4% 30.8% 4.0% -37.5% -17.1% NAV -8.6% 26.4% 7.0% -31.9% -10.8% Index* -0.3% 2.0% 10.1% -12.1% 8.5% Performance figures appear in GBP. 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 - 31/10/2023Performance figures appear in GBP. The 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.Holdings - 31/10/2023
Fund % 1 Nakanishi 2.7% 2 Descente 2.6% 3 Toyo Tanso 2.5% 4 LITALICO 2.5% 5 Cosmos Pharmaceutical 2.5% 6 GMO Financial Gate 2.2% 7 Sho-Bond Holdings 2.2% 8 Megachips 2.2% 9 MatsukiyoCocokara 2.0% 10 Shoei 2.0% Total 23.3% Active Share - 31/10/2023Relative to MSCI Japan Small Cap Index. Source: Baillie Gifford & Co, MSCI.
Sector analysis of total assets - 31/10/2023Fund %
- 1 Industrials 29.30
- 2 Information Technology 17.06
- 3 Consumer Discretionary 16.71
- 4 Financials 8.23
- 5 Communication Services 7.96
- 6 Health Care 7.69
- 7 Consumer Staples 7.36
- 8 Materials 3.18
- 9 Real Estate 1.76
- 10 Net Liquid Assets 0.74
- Total 100.00
As the Fund 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 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.Insights
View all Insights.Meet the Managers
Praveen Kumar
Praveen is an Investment Manager in the Japanese Equities Team. He is the Manager of the Japanese Smaller Companies fund (and related Japan Small Cap strategy segregated accounts), Manager of the Shin Nippon Investment Trust, and Deputy Manager of the Baillie Gifford Japan Trust Plc. He is also a member of the International Smaller Companies Portfolio Construction Group (PCG). Praveen graduated BEng in Computer Science from Bangalore University in 2001, and an MBA from the University of Cambridge in 2008. He previously worked for FKI Logistex before joining Baillie Gifford in 2008. After completing the investment graduate trainee programme Praveen joined the Japanese Equities Team as an Investment Manager in 2011.
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.
Annual Reports
Bulletins and Factsheets
Corporate Governance
Interim Reports
Investor Disclosure Document
Other Fund Literature
Philosophy and Process Documents
Portfolio Voting Disclosure
RNS Announcements
Sustainability-related Disclosures
PRIIPs Key Information Document
Disclaimers
MSCI Disclaimer
Source: MSCI. The MSCI information may only be used for your internal use, may not be reproduced or disseminated 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 of 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)
