THE £834 million Baillie Gifford Japan Trust performed strongly in the six months to February 28, boosted by gains across a raft of holdings including robot manufacturer Yaskawa Electric and online brokerage SBI Holdings.
The investment trust achieved an 18 per cent rise in net asset value per share to 805.4p during its first half, well ahead of a 6.4% rise in Japan’s TOPIX.
Among other holdings, Baillie Gifford Japan noted iStyle, the cosmetic review website, had seen “business growth reaccelerate”. It described the contribution from Katitas, which listed in December and refurbishes and sells homes, as “most startling”, with this company’s share price having more than doubled since flotation.
Baillie Gifford Japan noted healthcare company SanBio, which has stem cell technology to repair brain injury, was also a top-ten contributor to outperformance “as confidence grows that they will be able to successfully commercialise their technology”.
The trust said: “The benign economic conditions that have existed in Japan over the past few years have continued.”
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