28th Mar 2014 14:24
LONDON (Alliance News) - The Baillie Gifford Japan Trust PLC and Baillie Gifford Shin Nippon PLC Friday said they outperformed their benchmarks.
In the six months to February 28, 2014, The Baillie Gifford Japan Trust's net asset value per share (after deducting borrowings at fair value) increased by 3.8%, outperforming a 2.0% decrease in the TOPIX total return (in sterling terms). The company's share price increased by 7.6%.
The trust said the performance was due to strong stock selection. Its shares were Friday quoted at 323.84 pence, up 0.1%.
In the three year period to January 31 2014 Shin Nippon's net asset value per share rose 72.0%, significantly more than the 21.9% increase in the company's comparative index, the MSCI Japan Small Cap Index total return in sterling terms). Share price rose by 100.9% over this period.
Over its full financial year, Shin Nippon's net asset value per share rose 45.5%, also significantly above the 17.3% rise in the company's comparative index. The share price rose by 46.4% in the year.
The company said stock selection was "extremely good" in the year and borrowings were helpful to performance.
Its shares were Friday quoted at 298.56 pence, up 1.0%.
By Samuel Agini; [email protected]; @samuelagini
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Related Shares:
Baillie Gifford Shin Nippon PLCBaillie Gifford Japan Trust PLC