16th May 2014 15:04
LONDON (Alliance News) - Baillie Gifford Shin Nippon PLC Friday said its net asset value, after deducting the fair value of its borrowings, declined 12.5% in the three months to April 30, compared with a 6.2% decline in its comparative index.
In a statement, Baillie Gifford Shin Nippon said its share price fell by 11.1% over the same period.
Baillie Gifford Shin Nippon, which pursues long-term capital growth by investing mainly in small Japanese companies, said changes in its top ten equity holdings were due to market movements.
The comparative index is the MSCI Japan Small Cap Index total return in sterling terms.
Shares were Friday quoted down 1.2% at 285.71 pence.
By Samuel Agini; [email protected]; @samuelagini
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