Baillie Gifford names new co-managers for Japanese funds

The appointments, which take immediate effect, follow a period of growth for the funds.

See, who joined Baillie Gifford as a graduate in 2012 as a member of the firm’s Japanese equities team, will work alongside Matthew Brett in her new role at the £109.37 million Japanese Income Growth fund, which launched in July 2016.

Hjertman is co-managing the £300 million Japanese Smaller Companies fund with Praveen Kumar.

Hjertman also joined Baillie Gifford as a graduate on the firm’s Japanese equities team, a year earlier than See.

James Budden, director of retail marketing and distribution at Baillie Gifford, said: “Baillie Gifford has a team-based approach to fund management and we see strong merits in the appointment of co-managers across our range of OEICs.”

Last year Baillie Gifford’s Japan Trust posted a strong set of results for the last financial year on the back of an appreciating yen and depreciating pound.

The fund manager also cited strong performance of several internet-related holdings in results that showed net asset value per share of its Japan Trust, managed by head of Japanese equities Sarah Whitley, rose by 26 per cent in the year to the end of August.

The performance compared very favourably to its benchmark index, the Tokyo Stock Price Index (TOPIX), which rose by 21.5 per cent in sterling terms over the same period.

Japan Trust’s net assets grew from £323 million to £425m and the trust received dividend income from its investments of just over £7m. This was up 64 per cent from £4.3m the previous year.