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The Baillie Gifford Japan Trust first-half returns jump 20%
StockMarketWire.com
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Investment trust Baillie Gifford Japan Trust reported a rise in first-half net asset value total returns underpinned by a rally in shares of SoftBank, Outsourcing, Sumitomo Metal Mining and MonotaRO.
In the six months to 28 February 2021, The Baillie Gifford Japan Trust's net asset value total return per share increased by 20.4% compared with an 11.0% increase in the TOPIX total return.
The company's share price total return rose by 30.3% as the shares moved from a discount to a premium to NAV.
Calbee and Colopl were the two largest detractors to performance, but the company said it woudl continue to hold the shares, citing long-term value.
'Going forward short-term returns will inevitably be volatile but given the number of exciting growing businesses to invest in we remain optimistic about securing a good outcome for shareholders over the long term,' the company said.
Story provided by StockMarketWire.com
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