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02 Oct 2018 | 07:50

Baillie Gifford Japan Trust hails stock pickers' market as returns beat benchmark

The Baillie Gifford Japan Trust said Tuesday net asset value grew by more than a fifth, topping the TOPIC index total return benchmark supported by a favourable backdrop for stock picking in Japan.

For the 12 months to 31 August, net asset value rose 22.1% to £870m, beating 7.8% rise in the benchmark TOPIX index total return in sterling terms. The share price increased by 20.2%, breaking through 800p for the first time, and traded at a premium to net asset value of 2.7%.

The Managers' track record of successful stock selection was a major contributor to the returns, the company said.

The company said it continued to invest in companies that stimulate labour market related innovation amid a tight labour market in Japan brought on by an ageing population and low birthrate.

Looking ahead to 2019, The company said that while there remain some political tensions in the region, especially over US-China trade relations, it was positive on the outlook for investments.

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