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Baillie G.jap. Regulatory News (BGFD)
Regulatory News for Baillie G.jap. (BGFD)
| Share Price: 350.75 | Bid: 350.00 | Ask: 350.75 | Change: 0.00 (0.00%) |  | ||||||
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Interim Management Statement
Thu, 2nd Dec 2010 16:03
RNS Number : 2952X
Baillie Gifford Japan Trust PLC
02 December 2010
THE BAILLIE GIFFORD JAPAN TRUST PLC
Interim Management Statement - 3 months to 30 November 2010
The Baillie Gifford Japan Trust aims to achieve long term capital growth principally through investment in medium to smaller sized Japanese companies which are believed to have above average prospects for growth, although it invests in larger companies when considered appropriate.
Review of the Period
|
· |
Over the three months to 30 November 2010, the Company's net asset value (at fair value) rose by 9.4% compared to a rise in the benchmark of 6.7%*. The share price rose by 16.4%. All figures are in sterling terms. |
|
· |
Accordia Golf dropped out of the Top Ten Equity Holdings due to a partial sale. Other changes in the Top Ten were attributable to market movements. |
|
Sector Analysis of Total Assets
|
|
Top Ten Equity Holdings
|
||||
|
Sector |
% of total assets at 30/11/10 |
% of total assets at 31/08/10 |
|
Name |
% of total assets at 30/11/10 |
% of total assets at 31/08/10 |
|
Commerce and services |
23.4 |
24.1 |
|
Itochu |
3.8 |
3.6 |
|
Electricals and electronics |
17.4 |
15.4 |
|
Don Quijote |
3.0 |
2.7 |
|
Manufacturing and machinery |
13.3 |
13.2 |
|
Japan Tobacco |
2.6 |
2.6 |
|
Financials |
8.5 |
9.0 |
|
Canon |
2.6 |
2.5 |
|
Retail |
9.7 |
9.7 |
|
Mitsubishi Electric |
2.5 |
2.2 |
|
Chemicals and other materials |
9.0 |
8.8 |
|
Asahi Glass |
2.4 |
2.3 |
|
Information, communication |
|
|
|
KDDI |
2.4 |
2.2 |
|
and utilities |
7.6 |
7.0 |
|
Keihin |
2.4 |
2.3 |
|
Pharmaceuticals and food |
5.1 |
5.5 |
|
Misumi Group |
2.3 |
2.2 |
|
Real estate and construction |
3.1 |
3.2 |
|
Otsuka |
2.2 |
2.4 |
|
Net Liquid Assets |
2.9 |
4.1 |
|
|
|
|
|
Total |
100.0 |
100.0 |
|
Total |
26.2 |
25.0 |
Performance
|
|
% |
|||
|
|
3 Months |
1 Year |
3 Years |
5 Years |
|
Share Price |
16.4 |
28.1 |
(7.3) |
(29.0) |
|
NAV (at fair) |
9.4 |
20.0 |
(3.3) |
(16.7) |
|
Benchmark * |
6.7 |
13.1 |
0.8 |
(8.7) |
Source: Thomson Reuters Datastream/Baillie Gifford & Co
*Benchmark - On 1 September 2009, the Company changed its benchmark to TOPIX total return (in sterling terms) from TOPIX capital return (in sterling terms). For the purposes of the above table, the returns on both benchmarks for their respective periods have been linked to form a single benchmark.
Past performance is not a guide to future performance
|
General Information
|
||
|
|
30/11/10 |
31/08/10 |
|
Share Price |
179.0p |
153.8p |
|
Total assets (before deduction of bank loans) |
£154.1m |
£143.6m |
|
|
|
|
|
Total borrowings (loans at fair) |
£27.6m |
£28.0m |
|
Net asset value per share (at fair)* |
204.2p |
186.7p |
|
Discount of share price to net asset value (at fair) |
12.3% |
17.6% |
|
Potential Gearing (at fair) |
21.9% |
24.2% |
|
Actual Gearing (at fair) |
18.4% |
19.0% |
|
|
|
|
|
Total borrowings (loans at par) |
£27.2m |
£27.5m |
|
Net asset value per share (at par)* |
204.9p |
187.5p |
|
Discount of share price to net asset value (at par) |
12.6% |
18.0% |
|
Potential Gearing (at par) |
21.4% |
23.7% |
|
Actual Gearing (at par) |
18.0% |
18.4% |
* These figures have been calculated using the AIC cum income basis (includes current financial year net income).
This interim management statement and up to date NAV and share price information is available on the Managers' website www.japantrustplc.co.uk.
For further information contact:- Anzelm Cydzik on 0131 275 3276
This information is provided by RNS
The company news service from the London Stock Exchange
| Date | Source | Headline | Category |
|---|---|---|---|
| 15-May-13 11:16 | RNS | EGM Statement | Results and Trading Reports |
| 13-May-13 09:26 | RNS | Listing Rule 9.6.14 | Executive Changes |
| 08-May-13 11:14 | RNS | Issue of Equity | Company Announcement - General |
| 01-May-13 09:49 | RNS | Total Voting Rights | Holding(s) in Company |
| 29-Apr-13 12:10 | RNS | Issue of Equity | Company Announcement - General |
| 22-Apr-13 10:13 | RNS | Posting of General Meeting Circular | Company Announcement - General |
| 18-Apr-13 09:13 | RNS | Half Yearly Report | Results and Trading Reports |
| 17-Apr-13 15:10 | RNS | Issue of Equity | Company Announcement - General |
| 17-Apr-13 15:03 | RNS | Issue of Equity | Company Announcement - General |
| 15-Apr-13 14:04 | RNS | Issue of Equity | Company Announcement - General |
| 12-Apr-13 14:27 | RNS | Blocklisting Interim Review | Company Announcement - General |
| 11-Apr-13 12:21 | RNS | Issue of Equity | Company Announcement - General |
| 04-Apr-13 11:27 | RNS | Director/PDMR Shareholding | Directors' Dealings |
| 02-Apr-13 13:31 | RNS | Total Voting Rights | Holding(s) in Company |
| 28-Mar-13 07:00 | RNS | Half Yearly Report | Results and Trading Reports |
| 25-Mar-13 14:00 | RNS | Holding(s) in Company | Holding(s) in Company |
| 20-Mar-13 15:41 | RNS | Allotment of Shares | Company Announcement - General |
| 14-Mar-13 13:51 | RNS | Management Fee Arrangements | Company Announcement - General |
| 05-Mar-13 12:24 | RNS | Holding(s) in Company | Holding(s) in Company |
| 01-Mar-13 10:59 | RNS | Listing Rule 15.5.1(4) | Company Announcement - General |
| 23-Jan-13 09:37 | RNS | Holding(s) in Company | Holding(s) in Company |
| 21-Jan-13 12:27 | RNS | Holding(s) in Company | Holding(s) in Company |
| 10-Jan-13 16:13 | RNS | Holding(s) in Company | Holding(s) in Company |
| 07-Dec-12 10:06 | RNS | Interim Management Statement | Results and Trading Reports |
| 30-Nov-12 10:27 | RNS | AGM Statement | Results and Trading Reports |
| 29-Nov-12 15:24 | RNS | Holding(s) in Company | Holding(s) in Company |
| 01-Nov-12 10:04 | RNS | Annual Information Update | Company Announcement - General |
| 25-Oct-12 09:40 | RNS | Annual Financial Report | Results and Trading Reports |
| 12-Oct-12 12:31 | RNS | Blocklisting Interim Review | Company Announcement - General |
| 10-Oct-12 12:24 | RNS | Director/PDMR Shareholding | Directors' Dealings |
Regulatory news is displayed end of day, each day at 19:00.
