Baillie Gifford Emerging Market Fund - Class K · NASDAQ:BGKEX
Baillie Gifford Emerging Market Fund - Class K — The Baillie Gifford Japan Trust — Investor Presentation (November 2021)
21 slides from Baillie Gifford Emerging Market Fund - Class K's investor presentation, November 2021
Slide 1: The Baillie Gifford Japan Trust PLC
The Baillie Gifford Japan Trust PLC 55601 10005066
Slide 2: Important information and risk factors
Important information and risk factors This is a marketing communication and should not be considered as advice or a securities will accurately reflect the price the Trust might receive upon their sale. recommendation to buy, sell or hold a particular investment. This document contains information o
Slide 3: Key information
Key information Key information Top 10 holdings Manager Matthew Brett % of total investments Deputy Manager Praveen Kumar SoftBank Group 4.1 Rakuten 3.5 Total assets £1,097.64m Total borrowings £144.54m GMO Internet 3.2 Ongoing charges 0.66%* Dividend yield 0.4% SBI Holdings 3.0 Potential gearing 15
Slide 4: 40 years of The Baillie Gifford Japan Trust PLC
40 years of The Baillie Gifford Japan Trust PLC 7000 March 2020: Covid-19 6000 December 1989: Japan’s March 1995: Tokyo Sarin attack 2007: Peak asset price 5000 pre-GFC September bubble March 2011: 2012: Tōhoku Shinzo Abe 4000 March 2000: Dot- re-elected com bubble earthquake 1981: January 1995: and
Slide 5: The last ten years
The last ten years NAV total return 16.8% p.a.* TOPIX total return 11.2% p.a.* Ongoing charges reduced from 1.27% to 0.66% Resumed paying a dividend 2018 Dividend increased by 33.3% this year** As at 31 August 2021. *Source: Refinitiv, Tokyo Stock Exchange. Data 10 years to 31 August 2021. TOPIX tot
Slide 6: An evolving market
An evolving market Source: FactSet, Tokyo Stock Exchange. Top 10 stocks held in TOPIX index. Data as at July 1993, June 2005 and April 2021. Baillie Gifford. The Baillie Gifford Japan Trust PLC. 55601 10005066 6
Slide 7: The Japanese Equities team
The Japanese Equities team Donald Farquharson* Matthew Brett* Iain Campbell* Praveen Kumar Tolibjon Tursunov Karen See Investment Manager Investment Manager Investment Manager Investment Manager Investment Manager Investment Manager Years of experience: 33 (13) Years of experience: 18 (18) Years of
Slide 8: Our investment philosophy
Our investment philosophy Long-term Stock driven Flexible growth Investment not speculation: we are Agnostic to classifications Embracing all forms of growth owners rather than renters of Conviction led, freedom to explore Growth can come in various guises shares curiosities Turning time and volatil
Slide 9: Our investment philosophy
Our investment philosophy We hold stocks on average Low overlap with the index Seeking asymmetric returns 10x longer than the market Years % M3 100 Pigeon 10 Persol Holdings 8 80 Hikari Tsushin 6 60 GMO Internet 40 Lifenet Insurance 4 10 year average 14.7% Gree 2 20 Olympus 0 0 Cyberdyne Japan Trust
Slide 10: Our process
Our process Baillie Gifford. The Baillie Gifford Japan Trust PLC. 55601 10005066 10
Slide 11: Holding period
Holding period >10 years % of total 5-10 years % of total 2-5 years % of total <2 years % of total investments investments investments investments Rakuten 3.5 SoftBank Group 4.1 mixi 2.3 DENSO 2.8 GMO Internet 3.2 CyberAgent 2.8 Sato Holdings 1.6 Calbee 2.6 SBI Holdings 3.0 Sony 2.6 DMG Mori 1.6 Bri
Slide 12: Japan Trust performance
Japan Trust performance Performance to 31 August 2021 Annual discrete performance % % 500 45 436.4 34.0 400 374.1 35 23.8 25 20.7 300 18.8 16.3 15.6 13.0 14.3 15 12.6 9.3 200 6.6 160.7 5 2.4 0.6 90.8 99.4 100 -0.3 48.0 -5 -3.3 22.5 20.7 15.6 20.9 25.7 16.2 0 -15 10 years 5 years 3 years 1 year 30/09
Slide 13: Japan Trust attribution one year to 31 August 2021
Japan Trust attribution one year to 31 August 2021 Top ten relative stock contributors Bottom ten relative stock contributors Name Fund TOPIX Contribution Name Fund TOPIX Contribution (average (average % (average (average % weight %) weight %) weight %) weight %) Outsourcing 2.4 0.0 1.1 COLOPL 1.9 0
Slide 14: Japan Trust attribution five years to 31 August 2021
Japan Trust attribution five years to 31 August 2021 Top ten relative stock contributors Bottom ten relative stock contributors Name Fund TOPIX Contribution Name Fund TOPIX Contribution (average (average % (average (average % weight %) weight %) weight %) weight %) Yaskawa Electric 2.1 0.2 2.4 INPEX
Slide 15: Japan opportunities
Japan opportunities Baillie Gifford. The Baillie Gifford Japan Trust PLC. 55601 10005066 15
Slide 16: Portfolio positioning
Portfolio positioning As at 31 August 2021. Weightings based on Baillie Gifford Japan Trust PLC. An example selection of stocks is shown. Excludes cash. Baillie Gifford. The Baillie Gifford Japan Trust PLC. 55601 10005066 16
Slide 17: Summary
Summary A successful first 40 years Opportunities in the Japanese market are improving for growth investors This year NAV per share +20%, Dividend +33.3% Continuing our genuinely long-term approach to investment Data 12 months to 31 August 2021. NAV after deducting borrowings at fair value. Dividend
Slide 18: Appendices
Appendices 55601 10005066
Slide 19: Environmental, Social and Governance (ESG)
Environmental, Social and Governance (ESG) ESG issues are critically important, but tick box approaches are not the answer Companies will only succeed if they are run well and treat stakeholders fairly Some companies succeed because they are solving social or environmental problems Firm-wide engagem
Slide 20: Genuinely long-term
Genuinely long-term Japan Trust - turnover 100 90 80 70 60 % 50 40 30 20 10 0 Aug-11 Aug-12 Aug-13 Aug-14 Aug-15 Aug-16 Aug-17 Aug-18 Aug-19 Aug-20 Aug-21 Rolling 12 month turnover Japan Trust turnover to 31 August 2021. Baillie Gifford. The Baillie Gifford Japan Trust PLC. 55601 10005066 20
Slide 21: Legal notices
Legal notices TOPIX The TOPIX Index Value and the TOPIX Marks are subject to the proprietary rights owned by Tokyo Stock Exchange, Inc. and Tokyo Stock Exchange, Inc. owns all rights and know-how relating to the TOPIX such as calculation, publication and use of the TOPIX Index Value and relating to
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