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 31/05/2022

    6 Months

    1 Year

    3 Years

    5 Years

    Class B-Acc -17.9%-17.5%3.2%4.7%
    Index* -3.0%-0.0%5.4%5.1%
    Target Benchmark** -2.3%1.5%7.0%6.7%
    Sector Average*** -10.5%-9.4%7.9%6.4%
    Sector Ranking 9/99/97/95/9

    Annual Discrete Performance to 31 March each year

    Annual percentage return (Updated Quarterly)

    31/03/2017
    31/03/2018

    31/03/2018
    31/03/2019

    31/03/2019
    31/03/2020

    31/03/2020
    31/03/2021

    31/03/2021
    31/03/2022

    Class B-Acc 10.3%3.4%-8.0%49.8%-11.8%
    Index* 3.5%3.8%-7.7%29.7%1.9%
    Target Benchmark** 5.0%5.4%-6.3%31.7%3.4%
    Sector Average*** 9.4%1.0%-5.8%47.7%-6.3%

    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 - 31/05/2022

    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 - 31/05/2022

    Fund %
    1 Baillie Gifford Japanese Smaller Cos Fund 6.2%
    2 Olympus 4.8%
    3 United Overseas Bank 4.5%
    4 SMC 4.0%
    5 Shiseido 3.7%
    6 Hong Kong Exchanges & Clearing 3.5%
    7 SoftBank Group 3.3%
    8 Shimano 3.3%
    9 SBI Holdings 3.2%
    10 MS&AD Insurance 3.2%
    Total 39.7%
    Geographic analysis of total assets - 31/05/2022

    Fund %

    • 1 Japan 64.62
    • 2 Australia 13.84
    • 3 Hong Kong 13.80
    • 4 Singapore 4.91
    • 5 New Zealand 2.66
    • 6 Others 0.77
    • 7 Cash -0.60
    • 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 is an Investment Manager in the Japanese Equities Team. He is Manager of the Developed Asia Strategy and is a member of the International All Cap Portfolio Construction Group. Iain graduated BA in Modern History from Oxford University in 2000, and worked for Goldman Sachs and travelled in Asia, before joining Baillie Gifford in 2004. Iain became a Partner of the Firm in May 2020.

    Tolibjon Tursunov

    Tolibjon is an Investment Manager in the Japanese Equities Team. He is co-Manager of the Japan Growth strategy (and related Growth strategy segregated accounts), and a founding member of the Islamic Equities Team. Prior to joining Baillie Gifford, he worked in the corporate finance department of an FMCG company, before founding a price comparison website in Central Asia covering insurance, banking, and telecom sectors. Tolibjon graduated LLB in Law from Queen Mary University of London in 2008 and is a CFA Charterholder. Tolibjon joined Baillie Gifford 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.

    How to Buy

    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.

    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.

    Concentration

    The Fund’s concentration in a particular geographical area or industry may result in large movements in the share price in the short term.

    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 from Revenue

    Where possible, charges are taken from the Fund's revenue. Where there is insufficient revenue, the remainder will be taken from capital. This will reduce the capital value of your investment.

    Tax Rates

    Tax rates and the tax treatment of OEICs can change at any time.