- UK
Individual investor
Overview
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
Periodic Performance
All figures to 28/02/2025 1 Year
3 Years
5 Years
10 Years
Share Price 4.8% -3.8% 19.5% 90.8% NAV 3.5% 3.7% 23.3% 111.9% Benchmark* 2.4% 24.8% 45.4% 115.5% 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.
*TOPIX.
Performance source: Morningstar and relevant underlying index provider(s), total return.
Please bear in mind that past performance is not a guide to future returns.
Discrete Performance
Annual Performance to 31 December each year 31/12/2019
31/12/202031/12/2020
31/12/202131/12/2021
31/12/202231/12/2022
31/12/202331/12/2023
31/12/2024Share Price 35.3% -10.4% -21.7% -5.6% 1.9% NAV 21.3% -3.1% -14.9% -0.7% 6.5% Benchmark* 9.6% 2.0% -4.1% 13.3% 10.0% 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.
*TOPIX.
Performance source: Morningstar and relevant underlying index provider(s), total return.
Please bear in mind that past performance is not a guide to future returns.
Performance 28/02/2025Performance 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.
The graph is rebased to 100.
Please bear in mind that past performance is not a guide to future returns.
Holdings - 28/02/2025
Fund % 1 SoftBank Group 6.4% 2 Rakuten 5.2% 3 Sumitomo Mitsui Trust 4.6% 4 SBI Holdings 4.5% 5 Sony 4.0% 6 GMO Internet 3.3% 7 CyberAgent 3.0% 8 FANUC 2.8% 9 Calbee 2.7% 10 Nintendo 2.4% Total 39.0% Active Share 28/02/2025Relative to TOPIX. Source: Baillie Gifford & Co, Tokyo Stock Exchange.
Sector analysis of total assets 28/02/2025Fund %
- 1 Info, Comm and Utilities 17.85
- 2 Commerce & Services 17.53
- 3 Manufacturing & Machinery 14.96
- 4 Electricals & Electronics 13.79
- 5 Financials 10.01
- 6 Chemicals & Other Materials 9.74
- 7 Pharmaceuticals & Foods 6.08
- 8 Retail 5.49
- 9 Real Estate & Construction 2.21
- 10 Communication Services 0.85
- 11 Consumer Staples 0.73
- 12 Net Liquid Assets 0.78
- 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 sum due to rounding.
Insights
View all Insights.Meet the Managers
Matthew Brett
Matthew is an investment manager in the Japanese Equities Team. He is co-manager of the Japan All Cap Strategy, the Japanese Income Growth Strategy and manager of the Baillie Gifford Japan Trust. He joined Baillie Gifford in 2003 and became a partner of the firm in 2018. 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
Praveen is an investment manager in the Japanese Equities Team. He is the manager of the Japanese Smaller Companies Strategy, the Shin Nippon Investment Trust, and deputy manager of the Baillie Gifford Japan Trust. He is also a founding member of the International Smaller Companies Strategy. He joined Baillie Gifford in 2008 and previously worked for FKI Logistex. Praveen graduated B.Eng in Computer Science from Bangalore University in 2001, and completed an MBA from the University of Cambridge in 2008.
How to Invest
You can invest in our funds via a number of fund platforms, please see the links opposite. Information on the range of funds available through platforms can be found in our Platform Matrix.
Please note that we do not have the facility for you to invest directly with us in our Investment Trusts and we do not offer ISAs, SIPPS or Share Plans.
Please also note that we do not have an online service for individual investors.
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, unbiased is a website that allows you to search for authorised intermediaries in your area. You can visit their site on www.unbiased.co.uk
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
Corporate governance
Factsheets
Fund ratings reports
Interim reports
Investor disclosure document
Portfolio valuation
Portfolio voting disclosure
RNS announcements
Sustainability-related disclosures and climate reports
PRIIPs key information document
Risks
The investment trusts managed by Baillie Gifford & Co Limited are listed UK companies. 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 specific risks associated with the Trust include:
Currency
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.
Gearing
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.
Liquidity
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.
Derivatives
The Trust can make use of derivatives which may impact on its performance.
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.
Premium risk
Share prices may either be below (at a discount) or above (at a premium) the net asset value (NAV). The Company may issue new shares when the price is at a premium which may reduce the share price. Shares bought at a premium may have a greater risk of loss than those bought at a discount.
Buy-backs
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.
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.
Regulation
The Trust is listed on the London Stock Exchange and is not authorised or regulated by the Financial Conduct Authority.
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.
Disclaimers
TOPIX Disclaimer
The TOPIX Index Value and the TOPIX Marks are subject to the proprietary rights owned by JPX Market Innovation & Research, Inc. or affiliates of JPX Market Innovation & Research, Inc. (hereinafter collectively referred to as "JPX") and JPX owns all rights and know-how relating to TOPIX such as calculation, publication and use of the TOPIX Index Value and relating to the TOPIX Marks. JPX shall not be liable for the miscalculation, incorrect publication, delayed or interrupted publication of the TOPIX Index Value.
