This is a monthly report on Baillie Gifford's fund that invests in small Japanese companies. The fund doesn't give a clear market view but says it focuses on firms with high growth potential, like those innovating or expanding overseas. Key holdings are in industrials, tech, and consumer discretionary. The fund returned 31% over the past year, beating its benchmark, though long-term performance is mixed.
Baillie Gifford Shin Nippon PLC reported as of September 30, 2026, with a core investment in 40-80 Japanese small-cap companies possessing above-average growth potential, adopting a five-year active management perspective benchmarked against the MSCI Japan Small Cap Index. Total assets stood at £419
Monthly data was not separately disclosed; only cumulative performance as of September 30, 2026, is provided: Share price return of 31.6% over the past year vs. benchmark 25.3%, NAV return of 31.0%.
| Metric | 1 Year | 3 Years | 5 Years | 10 Years |
|---|---|---|---|---|
| Share Price | 31.6% | 39.0% | -28.0% | 54.3% |
| NAV | 31.0% | 32.5% | -19.5% | 70.5% |
| Benchmark (MSCI Japan Small Cap Index) | 25.3% | 63.6% | 55.9% | 122.9% |
This section did not disclose monthly attribution data; only the top ten holdings and sector allocation are provided.
This section did not include commentary on specific positions.
[Not explicitly stated] This section did not include the manager's judgmental commentary on the market or sectors. The report only reiterates the investment philosophy: investing in 40-80 Japanese small-cap companies with above-average growth potential, adopting a five-year active management perspective, with growth sources including innovative business models, disruption of traditional Japanese practices, or overseas market opportunities.
This section did not disclose position changes. The top ten holdings account for 29.6% of total assets, with sector allocation primarily in Industrials (24.5%), Information Technology (21.9%), and Consumer Discretionary (17.3%).