The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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So glad to be free of Ballie Gifford. Already put the extracted funds to profitable use. BG seems to exist for the fund careerists and s****y new office buildings
The consolation is its not quite as bad as BGS or the even worse scottish mortgage. Do Ballie Gifford actually have a trust that has lost less than 25%? I suppose they have had to pay a fair amount for prestigious new offices, that need to splash out on some new fund managers. I may give up and take the 20% loss soon, at least its not as bad as the poor blighters in SMT . I thought the idea of a trust was they could manage shares better than jo public. Embarrassing bunch of amateurs.
To be fair, the fair NAV has hardly dropped at all @ £8.58 unless this is not up to date . So he discount has widened. Its just a lot more with BG trusts than anywhere else, and spectacularly underperforming the markets. Guess youbjust cant get the staff these days.
Spot the worst performing Ballie Gifford trust today. They really are in a class of their own. The bottom
Like everything else in the uk at the moment, laughing stock of the world, but excellent at apologising. I laugh the way absolutely nothing was done to correct it. Presume they all fell asleep it was so dull and uninspiring. That’s me done with investment trusts. Absolute crap
Absolutely. I had to give up after ten minutes.
Perfect example of when "working from home" doesn't work.
I wrote and complained to BG - at least they had the decency to reply and apologise for the "technical issues".
Webinar was dreadful yesterday. Poor quality in every department, sound, visual and content. Looking forward to the eArliest op to exit. Can’t say I’d ever invest in anything to do with BG again
The discount is narrowing . Let’s hope the stock continues to improve
How useless is this trust? The Nikkei is nowhere near as bad as Ballie Gifford trusts
The Nikkei has been doing well this week. The price you pay for expertise and excess of nav: Failure
We sold half our stock some time ago when it was at its peak.
Buying back in again very soon along with BGS, once the bottom has settled.
We buy stocks that are cheap or out of favour or have big discounts. Never buy at the top as it can only go down
For those who like a gamble and not of a nervous disposition our largest holding FFWD is priced at 7.4p with a declared NAV of 12p which may be restated at the 24p range following good performasses of its investments. ONLY FOR THE BRAVE. For those who like to take a chance there may be of a very very big profit in time. if nervous STAY AWAY. Also watch LTI especially if it goes below £9000
said today, 'I think the japanese stock market will deliver attractive returns over the medium term. It's time to hold your nerve.' Nice big late buy today...
Thanks, but I already had the NAV for the day before (the 22nd at the time). Looks like the NAV was 332 following the 7% dip and has since recovered, however the price is at a 5% discount. Are you invested here? Any idea how long it would take to get the price/NAV in sync again? My understanding which is clearly wrong is that the price would always track the NAV closely but this has not caught up since Thursday.
Have a look at the London Stock Exchange and click on Prices and Markets. Put BGFD into the search and click onto Summary and it will show you the NAV as of yesterday. The fair value price was 354.84. The LSE is very good also click onto technical analysis.
Anyone know where I can find the latest NAV? All the sites I'm looking at still shows the value for 22nd. Difficult how sell off in Japanese stocks actually affected this.
Outlook Japanese equities continue to sell at a discount to most other world equity markets and it is difficult to know when investors will recognise this more broadly. In the meantime Japan has many companies which are growing and are expected to continue to do so, the most attractive of which are held by the Company.
The Baillie Gifford Japan Trust PLC outperformed its benchmark index over the year to 31 August 2012 by 3.5 percentage points. Net asset value per share, after deducting borrowings at fair value, rose 0.8%, while the benchmark index declined 2.7%. The share price rose 2.4%. ¾ Returns ahead of the Company's benchmark were as a result of good stock selection, particularly in the information, communication and utilities and electricals and electronics sectors. So-Net Entertainment and Endo Lighting being notable contributors. ¾ The Company's JPY borrowings were a small net negative contributor to performance and gearing stood at 19% of shareholders' funds at year end (18% - 31 August 2011). We continue to believe that the growth potential of specific stocks remains fundamentally understated by current share prices so borrowings continue to be invested in the market. ¾ Portfolio turnover over the period was 9% (11% for the year to 31 August 2011) reflecting the Managers' conviction in the current portfolio and long term investment horizon. Six new holdings were made and six holdings sold in entirety. ¾ The Japanese economy is forecast to grow 2% in 2012, significantly higher than the G10 average, driven by domestic demand. Although the macro environment is uncertain, corporate Japan would be well positioned to benefit from progress on deregulation, free trade and a more explicit inflation target. ¾ The Managers' focus on individual companies and the Company's focus on finding growth internationally, as well as domestically, remain points of differentiation from the index. The Baillie Gifford Japan Trust PLC 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. At 31 August 2012, the Company had total assets of £163.1m (before deduction of bank loans of £28.5m). Baillie Gifford & Co, the Edinburgh based fund management group with around £82billion under management and advice as at 3 October 2012, is appointed as investment managers and secretaries to The Baillie Gifford Japan Trust PLC.
http://www.investegate.co.uk/Article.aspx?id=201210040700068799N
http://www.investegate.co.uk/Article.aspx?id=201103310700079487D
Bailie Gifford confident Japan will be resurgent Date: Thursday 31 Mar 2011 LONDON (ShareCast) - Baillie Gifford Japan, the trust that invests in Japanese small and mid-caps, saw a strong rise in net asset value (NAV) last year, with portfolio performance outstripping that of the benchmark index. NAV per share rose by 21.2% in the six months to end-February to 226.3p (with borrowings deducted at fair value) versus a 15.6% increase in sterling terms in the value of Japan’s TOPIX total return index. Understandably, in a month that saw Japan devastated by an earthquake and subsequent tsunami, the NAV per share fell back in March, sliding 7.2% in the period to 29 March, but even then, that was an outperformance of the TOPIX, which fell 8.5% in sterling terms over the same period. “At the time of writing there is a lot of confusion about the short term issues arising from the natural disaster,” the company said. “Whilst not wanting to underestimate the human tragedy and cost of rebuilding Tohoku, we believe that the effects on the vast majority of companies will be transitory. Any complacency that stalked the Japanese establishment may well have been shaken with positive long term results,” the company added. No interim dividend has been declared.
Anyone else keeping an eye on these? Some upward move on the Nikkei but the recent share movement leaves much to be desired when you have held as long as I have. Two recent mentions on BGFD in the Investors Chronic. The first was a big buy tip write up on 12 Nov, and this was followed up on 3 Dec saying hold on as more upward move likely as global cycle is on the up. Eurozone and bond worries may make people look for safe havens maybe?