8th Oct 2015 07:56
LONDON (Alliance News) - The Baillie Gifford Japan Trust PLC on Thursday said it produced a better performance than its benchmark in its last financial year.
Net asset value per share, minus borrowings at fair value, rose by 20.4% in the year to August 31, the trust said, against a 13.4% gain for the TOPIX total return (in sterling terms).
"The positive absolute and relative outperformance came from investment in a variety of sectors and stocks as a broad spectrum of stocks performed well. There were thirteen individual stock contributors of more than 0.5% to outperformance and five which detracted at the same level," the trust said.
Shares in the trust were down 0.2% at 433.50 pence on Thursday morning.
By Samuel Agini; [email protected]; @samuelagini
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