SCOTTISH MORTGAGE INVESTMENT TRUST
TRUST
CC JAPAN INCOME & GROWTH
This trust is set to benefit from structural reforms that make Japan a more attractive
destination for income investors’ cash
-6.6%
12.0%
21.0%
11.3%
4.0%
Past performance is not a guide to future returns.
Please remember that changing stock market conditions and currency exchange
rates will affect the value of your investment in the fund and any income from it.
You may not get back the amount invested.
For a free-thinking investment approach call 0800 917 2112
or visit www.scottishmortgageit.com
Long-term investment partners
*Source: Morningstar, share price, total return as at 31.12.15. †Ongoing charges as at 31.03.15. Your call may be recorded for training or monitoring
purposes. Scottish Mortgage Investment Trust PLC is available through the Baillie Gifford Investment Trust Share Plan and the Investment Trust ISA,
which are managed by Baillie Gifford Savings Management Limited (BGSM). BGSM is an affiliate of Baillie Gifford & Co Limited, which is the manager
and secretary of Scottish Mortgage Investment Trust PLC.
MANAGER: Richard Aston
PREMIUM/DISCOUNT: +5.9%
LAUNCHED: 15/12/2015
OCF: N/A
FE CROWN RATING: N/A
trustnetdirect.com
TSE TOPIX (42.38%)
40%
30%
20%
10%
0%
-10%
Dec
FTSE All-World Index
50%
Oct
13.3%
Aug
21.4%
Jun
39.8%
Apr
30.1%
Feb 15
-15.2%
CC - Japan Income & Growth Founder (55.97%)
Dec
Scottish Mortgage
60%
Oct
2014-2015
Aug
2013-2014
Jun
2012-2013
Apr
2011-2012
Feb 14
2010-2011
However, Whiting says it is still an
attractive offering.
“The trust is trading at a premium
to asset value, which we think
is likely to be maintained given
the high yield compared with its
peers, providing it with a unique
positioning,” he explained.
“We consider the trust represents
a sound way to get exposure to the
evolving Japanese corporate scene,
with a potentially healthy dividend
return.”
Aston focuses on companies he
deems to be un