06 Sep 2010

Shin Nippon Announces Interim Results 

The latest interim results for Baillie Gifford Shin Nippon PLC show that, for the six months to 31 July 2010, the company’s net asset value per share (after deducting borrowings at fair value) rose by 9.7% compared to a 6.0% rise in sterling terms in the comparative index*. Shin Nippon’s share price rose by 16.0% over the same period.

Good relative performance can be attributed mainly to stock selection, particularly in Consumer Discretionary, Healthcare and Industrial sector stocks.  Sterling returns benefited from the yen strengthening over the period.

More details on the results, including the Interim Management Report, can be found in the attached press release.

Shin Nippon aims to achieve long-term capital growth through investment principally in small Japanese companies which are believed to have above average prospects for growth. At
31 July 2010 the Company had total assets of £56.2m (before deduction of bank loan of £8.5m).

You can find up to date performance information about Shin Nippon on the Shin Nippon page of Baillie Gifford’s website www.shinnippon.co.uk 

* Shin Nippon’s comparative index is the MSCI Japan Small Cap Index in sterling terms, total return.
 

Standardised Past Performance

Source: Morningstar, share price mid to mid, total return.

Please remember that past performance is not a guide to future performance. The value of your investment may go down as well as up and you may not get back the amount originally invested.  You should regard your investment as long term.

The trust invests in overseas securities and changes in the rates of exchange may also cause the value of your investment (and any income it may pay) to go down or up.