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Baillie Gifford Japan Trust reported a rise in net asset value total return that topped its benchmark as physical-world businesses in its portfolio flourished amid the reopening of economies.
For the year to 31 August, revenue was 20.9% compared to the benchmark TOPIX index total return of 16.3%.
'The largest positive contributors to performance over the year came from physical-world businesses whilst negative contributions mainly came from the internet area,' the company said.
The company said it was recommending a dividend of 6.00 pence per share, an increase of 33.3% on last year's 4.50 pence.