StockMarketWire.com - The Baillie Gifford Japan Trust said its annual performance undershot its benchmark as annual net asset value return fell 5.3%.

For the year to 31 August 2019, net asset value total return (after deducting borrowings at fair value) fell by 5.3% and the net asset value total return (after deducting borrowings at par value) fell by 5.2%, compared with the 0.5% fall in the benchmark TOPIX index total return.

Annual turnover was up 11.5% during the year, while the share price total return fell by 7.4%.

The two largest negative contributors to performance this year were Outsourcing and ZOZO and the largest contributor to performance this year was Rakuten, the company said.

The company proposed a final dividend of 3.50p a share.

'Despite these macro issues, we remain positive on the outlook for investments in the Baillie Gifford Japan Trust portfolio over the medium to longer term,' the company said.




Story provided by StockMarketWire.com