Baillie Gifford Japan Trust PLC Share Price (BGFD)

I’m not actual redemptions have played a part in the BG underperformance. More worrying is the interview where management discussed a rebalancing of the portfolio. Combine that with the significant share buyback program and I would have expected to see a NAV well north of £12 to be honest. The Nikkei , which BG proudly declare is not representative of their portfolio, had had an astonishing run, so some kind of correction is likely. What that means for BGFd is difficult to guess but as retrace into low £8 seems not unlikely.

I do regret not having any exposure to Japan thanks to the appalling performance of most uk trusts in this area with the exception of Schroders. The Nikkei has more than doubled and BGfd have scraped a reasonable recovery from this exceptional low. However my reinvested money directly into companies has far exceeded BGs dismal performance. Many Japanese trusts have cut and run. Even allowing for Nav discount its poor. Are Uk trusts unique in redemption? Ive no idea. The concern is are Trusts actually viable in todays investment strategy? one thing redemptions have succeeded in doing is flooding the uk markets with bargain shares. Cheers

Will be interesting to see where the Nav is this week. Last RNS 8.25! Panic selling induced a ten minute circuit breaker this morning here and in Taiwan. Trouble is when the Nikkei goes up 30 percent Bgfd go up about 5. When the Nikkei goes down Bgfd seems to match the fall. I think this is getting interesting but not convinced this the bottom yet by some way.

Unfortunately there is no good point of entry to Ballie Gifford. The point of exit is the thing to look for! They are not the company they used to be. Must admit I have been tempted below 7 as the Nikkei continues its steady rise, but of course BG know better and as they admit their investments are not aligned to the Nikkei! Bbs is down to £1.08 as the Nikkei ever closer to 40.000! Well the hell did they invest in. They should be investigated.

Seems a good point of entry to me