1. Overview

    The Developed Asia Pacific Fund aims to outperform (after deduction of costs) the MSCI Pacific Index, as stated in Sterling, by at least 1.5% per annum over rolling five-year periods. 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 Asia Pacific including Japan Sector.

    In markets seduced by complexity, we believe in keeping things simple. We invest in what we believe to be the most competitive, innovative and efficient growth companies.

    Performance & Portfolio

    Periodic Performance

    All figures to 31/03/2021

    6 Months

    1 Year

    3 Years

    5 Years

    Class B-Acc 9.6%49.8%12.5%15.0%
    Index* 12.3%29.7%7.5%11.4%
    Target Benchmark** 13.1%31.7%9.1%13.1%

    Annual Discrete Performance to 31 March each year

    Annual percentage return (Updated Quarterly)

    31/03/2016
    31/03/2017

    31/03/2017
    31/03/2018

    31/03/2018
    31/03/2019

    31/03/2019
    31/03/2020

    31/03/2020
    31/03/2021

    Class B-Acc 28.1%10.3%3.4%-8.0%49.8%
    Index* 33.4%3.5%3.8%-7.7%29.7%
    Target Benchmark** 35.4%5.0%5.4%-6.3%31.7%
    Sector Average*** 34.2%9.4%1.0%-5.8%46.2%

    Please bear in mind that past performance is not a guide to future performance.
    The value of your investment may go down as well as up, and you may not get back the amount you invested.
    Performance source: FE and relevant underlying index provider, single pricing basis, total return.
    Returns reflect the annual charges but exclude any initial charge paid.
    *MSCI Pacific Index.
    **MSCI Pacific Index +1.5%.
    ***IA Asia Pacific Including Japan Sector.

    Performance - 31/03/2021

    Please bear in mind that past performance is not a guide to future performance.
    The value of your investment may go down as well as up, and you may not get back the amount you invested.
    Source: FE and relevant underlying index provider, single pricing basis, total return.
    The graph is rebased to 100.

    Top Ten Holdings - 31/03/2021

    Fund %
    1 BG Japanese Smaller Cos Fund 7.6%
    2 SoftBank Group 5.0%
    3 Shiseido 3.7%
    4 Hong Kong Exchanges & Clearing 3.6%
    5 Olympus 3.6%
    6 SMC 3.5%
    7 Shimano 3.3%
    8 SBI Holdings 3.2%
    9 United Overseas Bank 3.0%
    10 Sugi Holdings 3.0%
    Total 39.6%
    Geographic analysis of total assets - 31/03/2021

    Fund %

    • 1 Japan 64.80
    • 2 Hong Kong 15.15
    • 3 Australia 13.87
    • 4 Singapore 4.86
    • 5 New Zealand 3.16
    • 6 Others 0.64
    • 7 Cash -2.49
    • Total 100.0

    As 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.

    Meet the Managers

    Iain Campbell

    Iain joined Baillie Gifford in 2004 is a member of the Japanese Specialist Team. Most of Iain’s investment career has been focused on Emerging and Developed Asian markets. He has responsibility for managing various specialist Developed Asia, including Japan, portfolios and is also a member of the International All Cap Portfolio Construction Group. He became a Partner of the firm in 2020. Prior to joining Baillie Gifford, Iain worked for Goldman Sachs as an analyst in the Investment Banking division. He graduated BA in Modern History from the University of Oxford in 2000.

    Tolibjon Tursunov

    Tolibjon joined Baillie Gifford in 2011 and is an Investment Manager in the Japanese Equities Team. He began his professional career in the Corporate and Operations Finance Department of British American Tobacco. Later, he set up a price-comparison website covering products and services in the insurance, banking and telecom sectors in Central Asia. Tolibjon graduated LLB in Law from Queen Mary University of London in 2008 and is a CFA Charterholder.

    Documents

    You can access any literature about the Fund here, either by downloading or requesting a copy by post (where available). Please note that, due to current government restrictions, we have a limited number of staff in our office. As a result, if posting instructions to us, there may be a delay in processing these due to these current restrictions.

    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.

    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: [email protected]. 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.