13th Mar 2015 10:38
LONDON (Alliance News) - Baillie Gifford Shin Nippon PLC on Friday said it underperformed its benchmark in the year to the end of January, but still saw its net asset value rise on the back of a robust performance in the Japanese stock market.
The Japan-focused investment trust said its net asset value per share rose 11.7% in the year, behind the 13.2% rise in its benchmark MSCI Japan Small Cap Index. Its net asset value per share was 346 pence at the end of the year, compared to 310.7 pence a year earlier.
The fund said it was boosted by a good performance from its holdings in sportswear company Asics and by healthcare company M3.
Shares in Baillie Gifford Shin Nippon were up 3.4% to 353.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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