fund
Baillie Gifford Japanese Smaller Companies B
An actively managed, process driven specialist fund.
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5688.00p
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.
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6235.00p
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?
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1.00% 0.00%
Initial chargeSome 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!
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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).
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0.63%
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.
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0.20%
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…
The fund's objective is to achieve capital growth by investing, whether directly or indirectly, in Japan, with particular emphasis on smaller companies, in any economic sector.
Fund summary
| Sector | Japanese Smaller Companies |
| Structure | OEIC |
| Launched | September, 1999 |
| Size | £1,019m |
| Yield | 0.20% |
| Charging basis | |
| Dividends paid |
Charges
| Standard initial charge | 1.00% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 0.60% |
| Ongoing charges figure | 0.63% |
Allocation
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Investment process
Manager research
Average monthly relative returns
- 16/17 -0.78%
- 17/18 1.36%
- 18/19 0.82%
- 19/20 -0.75%
- 20/21 1.54%
Bestinvest MRI
- 3 years 0.54%
- 5 years 0.44%
- Career 0.58%
- 3 years 82.60%
- 5 years 87.10%
- Career 93.50%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Praveen Kumar
Kumar joined Baillie Gifford in 2008 and became an investment manager on the Japanese Equities team in 2011. He previously worked for FKI Logistex.Kumar graduated BEng in Computer Science from Bangalore University in 2001 and gained an MBA in Finance from Judge Business School, Cambridge University in 2008.
Track record
Praveen Kumar has 5.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.58%. During the worst period of relative performance (from April 2019 - February 2020) there was a decline of 13% relative to the index. The worst absolute loss has been 24%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 94%.
Periods of worst performance
| Absolute | -24.00% (September 2018 - February 2020) |
| Relative | -13.00% (April 2019 - February 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
| 4.2% | Bengo4.Com Inc |
| 4% | Cosmos Pharmaceutical Corp |
| 3.1% | Gmo Payment Gateway Inc |
| 3.1% | Demae Can Co Ltd |
| 3% | Raksul Inc |
| 3% | Monotaro Co.ltd |
| 2.9% | Nihon M&A Center Inc |
| 2.6% | Eguarantee Inc. |
| 2.5% | Anicom Hldgs Inc |
| 2.3% | M3 Inc |
| Source: Trustnet |
Sector breakdown
| Industrials | 26.00% |
| Information Technology | 17.00% |
| Consumer Discretionary | 14.00% |
| Communications | 10.00% |
| Health Care | 10.00% |
| Consumer Staples | 10.00% |
| Financials | 7.00% |
| Materials | 3.00% |
| Real Estate | 2.00% |