Baillie Gifford Japanese Income Growth B

  • 158.40p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • 176.60p
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.60%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 0.70%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 1.80%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 17 September 2021

The fund aims to achieve capital growth with stable income through investment in Japanese equities. The fund is managed by Matthew Brett, co-manager of Baillie Gifford Japanese. At Baillie Gifford they have a team based approach and use a bottom-up, growth style to invest in companies which have strong financials, competitive advantage in their industry and favourable attitudes towards shareholders.

Fund summary

Sector Japan
Structure OEIC
Launched July, 2016
Size £954m
Yield 1.80%
Charging basis Capital
Dividends paid Feb, Aug

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.60%
Ongoing charges figure 0.70%

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Investment process

Manager research

Average monthly relative returns

  • 16/17 0.37%
  • 17/18 0.42%
  • 18/19 0.09%
  • 19/20 0.07%
  • 20/21 0.01%

Bestinvest MRI

  • 3 years 0.06%
  • 5 years 0.19%
  • Career 0.25%
  • 3 years 65.90%
  • 5 years 92.20%
  • Career 99.90%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Matthew Brett

Brett joined Baillie Gifford in 2003 and is an Investment Manager in the Japanese Equity Team. He graduated from the University of Cambridge with a BA (Hons) in Natural Sciences (Psychology) in 2000. He holds a PhD in Psychology from Bristol University and is a CFA Charterholder.

Track record

Matthew Brett has 13.7 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.25%. During the worst period of relative performance (from June 2019 - March 2020) there was a decline of 9% relative to the index. The worst absolute loss has been 18%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is more than 99%.

Periods of worst performance

Absolute -18.00% (May 2008 - February 2009)
Relative -9.00% (June 2019 - March 2020)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Top 10 holdings

Data accurate as at 31 July 2020

4.5% Gmo Internet Inc
4.5% Softbank Group Corp
3.3% Denso Corp
3.2% Sbi Hldgs Inc
2.8% Kubota Corp
2.7% Industrial & Infrast Fd Inv Corp
2.5% Fanuc Corp
2.5% Sumitomo Mitsui Tr Hldgs Inc
2.5% Ms&Ad Insurance Group Hldgs Inc
2.4% Nintendo Co
Source: Trustnet

Sector breakdown

Machinery 24.00%
Financials 17.00%
Services 14.00%
Electronic & Electrical Equipment 10.00%
Telecommunications Utilities 10.00%
Chemicals 9.00%
Real Estate & Construction 5.00%
Pharmaceuticals 4.00%
Money Market 3.00%
Retail 2.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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