Baillie Gifford Japan Trust PLC on Thursday reported a negative total return and an albeit narrowed investments loss in its latest year, but still declared an increased dividend.

The Edinburgh, Scotland-based investment management company delivered a negative 5.4% net asset value total return for the year ended August 31, underperforming the benchmark return of positive 6.7%.

Baillie Gifford Japan’s NAV per share fell to 787.7 pence at August 31, compared to 842.4p on the same day in 2022.

The stock was up 1.0% at 669.40p in London on Thursday.

Losses on investments narrowed to £70.1 million for financial 2023 from £174.4 million. The company’s pretax net return meanwhile narrowed to negative £41.4 million, compared to the negative £153.5 million delivered in financial 2022.

However, Baillie Gifford Japan declared a 10p per share final dividend, up 11% from the 9p paid for the prior year.

Looking ahead, the trust reassured shareholders that its portfolio ‘contains many attractive growth companies’, leaving it ‘confident in the long-term, and hopeful in the shorter-term, regarding the prospects for the company.

Opportunities in Japan for growth investing, the company believes, ’are the greatest since the Global Financial Crisis‘.

Copyright 2023 Alliance News Ltd. All Rights Reserved.