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 31/10/2024 1 Year
3 Years
5 Years
10 Years
Share Price -4.1% -52.5% -36.9% 83.3% NAV -0.8% -43.1% -26.3% 118.8% Index* 11.1% 7.7% 14.2% 128.0% 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.
*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 30/09/2019
30/09/202030/09/2020
30/09/202130/09/2021
30/09/202230/09/2022
30/09/202330/09/2023
30/09/2024Share Price 30.8% 4.0% -37.5% -17.1% -8.1% NAV 26.4% 7.0% -31.9% -10.8% -5.8% Index* 2.0% 10.1% -12.1% 8.5% 8.9% 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 - 31/10/2024Performance 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 - 31/10/2024
Fund % 1 Lifenet Insurance 3.5% 2 PeptiDream 2.8% 3 Infomart 2.6% 4 KATITAS 2.6% 5 JEOL 2.6% 6 MegaChips 2.5% 7 Anest Iwata 2.4% 8 Nifco 2.4% 9 Appier Group 2.4% 10 Toyo Tanso 2.2% Total 26.1% Active Share - 31/10/2024Relative to MSCI Japan Small Cap Index. Source: Baillie Gifford & Co, MSCI.
Sector analysis of total assets - 31/10/2024Fund %
- 1 Industrials 25.25
- 2 Information Technology 20.62
- 3 Consumer Discretionary 15.16
- 4 Financials 11.66
- 5 Communication Services 8.59
- 6 Health Care 7.54
- 7 Consumer Staples 5.78
- 8 Real Estate 2.60
- 9 Materials 1.55
- 10 Net Liquid Assets 1.25
- 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 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 founder and member of the International Smaller Companies Team. He joined Baillie Gifford in 2008 and previously worked for FKI Logistex. Praveen graduated BEng 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
Any investment in an investment trust involves risk. You should be aware of the following risks when considering investing.
Past performancePast 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.
Overseas investment
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.
Share 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.
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 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.
Private Companies
The Trust's risk could be increased by its investment in private companies. These assets may be more difficult to buy or sell, so changes in their prices may be greater.
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.
Unlikely to achieve income
The aim of the Trust is to achieve capital growth and it is unlikely that the Trust will provide a steady, or indeed any, income.
Tax Rates
You should note that tax rates and reliefs may change at any time and their value depends on your circumstances.
Regulation
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.
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)
