Baillie Gifford fund survives shockwave

BAILLIE Gifford Shin Nippon has reported a robust performance for the first half despite disruption in Japan caused by March’s devastating earthquake and tsunami.

The fund, which is managed by Edinburgh-based Baillie Gifford & Co, said its net asset value per share rose by 4.2 per cent compared to a 1.5 per cent rise in its benchmark index.

It said: “The tragic earthquake that hit Japan during the period under review had a significant impact on the economy, however recent results have been better than many companies forecast initially.”