26th Mar 2015 12:43
LONDON (Alliance News) - The Baillie Gifford Japan Trust PLC Thursday said its net asset value per share increased by 20.5% to 425.9 pence after subtracting borrowings at fair value in the six months ended February 28, while the TOPIX total return (in sterling terms) increased by 12.3%. The company's share price increased by 20.6%.
"The significant outperformance was due to both good stock selection and the positive impact of gearing," the trust's management report said.
The trust is managed by Edinburgh-based fund manager Baillie Gifford.
The trust's shares were down 2.1% at 445.80 pence on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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