Capital at risk
China
We aim to navigate China’s complex markets by identifying the most exciting growth firms, regardless of where they’re listed, their size or weight in an index.
The speed and scale of China’s development make it a rich hunting ground for opportunities.
A differentiated approach in an inefficient, under-researched and short-term market can add significant value.
Short-term market meets long-term investor
A deliberately selective investment approach, helping our clients benefit from China’s engines of growth for the next decade.
China: our philosophy
Investment manager Sophie Earnshaw introduces the China Strategy, reflecting on the exciting opportunities ahead.
Hunting for growth in a growing market
To deliver long-term capital gains, we look for businesses that enjoy sustainable competitive advantages and which we believe will grow their earnings significantly faster than the market average. This requires fundamental research, active engagement and an ability to ignore large parts of the index.
Active management is critical for assessing the risks and opportunities. China is a poorly researched investment universe dominated by short-termism, which makes it an exciting one for patient, curious stock pickers.
Diverse perspectives
An active and engaged approach allows us to navigate over 6,000 companies and deliver a portfolio of just 40-80 Chinese growth stocks.
We benefit from global and local knowledge with a team based across Edinburgh and Shanghai.
Our differentiated horizons, perspectives and relationships provide insights that help us spot opportunities early and exploit persistent inefficiencies.
We have been investing in China since 1994 with a philosophy focused on long-term returns. Our dedicated China Strategy was launched in 2006.
We have always been interested in disruption, no matter where it might occur. It’s this intellectual curiosity that continues to draw us to China’s innovative companies.
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Strategy portfolio holdings
A list of the top 10 holdings that the representative portfolio invests in.
All figures up to: 30 April 2024
| # | Holding | % of portfolio |
|---|---|---|
| 1 | Tencent | 9.7% |
| 2 | Kweichow Moutai | 6.0% |
| 3 | Meituan | 5.5% |
| 4 | Alibaba | 4.9% |
| 5 | PDD Holdings | 3.7% |
| 6 | China Merchants Bank | 3.4% |
| 7 | CATL | 3.3% |
| 8 | Midea | 2.9% |
| 9 | NetEase | 2.9% |
| 10 | Zijin Mining | 2.8% |
Please note
The information contained on this page is intended as a guide only and should not be relied upon when making investment decisions. All holdings information is unaudited. Source Baillie Gifford & Co. Please note that totals may not add due to rounding.
Invest in this strategy
You can invest in this strategy through the following fund(s).
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Curious to learn more about our products and what we can offer you? Please get in touch.
Insights
Key articles, videos and podcasts relating to the strategy:
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Insights
China Q4 update
The China Team reflects on recent performance, portfolio changes and market developments.
China: fear or FOMO?
Ben Buckler on how investors should steer between the twin poles of risk in China.
Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.
China Q3 update
The China Team reflects on recent performance, portfolio changes and market developments.
Finding China’s A-share jewels
The country’s domestic markets are rich in companies with the know-how to become global leaders.
China Strategy
Investment manager, Sophie Earnshaw, discusses the Baillie Gifford China Strategy.
China Q2 update
The China team reflects on recent performance, portfolio changes, and market developments.
China’s energy paradox
How should you consider the country – carbon culprit or climate saviour?
China’s gen Z+
How the digital natives’ wants and needs create opportunities for forward-thinking Chinese companies.
China: our philosophy
Investment manager Sophie Earnshaw introduces the China Strategy, reflecting on the exciting opportunities ahead.
China Q4 update
The China Team reflects on recent performance, portfolio changes and market developments.China: fear or FOMO?
Ben Buckler on how investors should steer between the twin poles of risk in China.Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.China Q3 update
The China Team reflects on recent performance, portfolio changes and market developments.Finding China’s A-share jewels
The country’s domestic markets are rich in companies with the know-how to become global leaders.China Strategy
Investment manager, Sophie Earnshaw, discusses the Baillie Gifford China Strategy.China Q2 update
The China team reflects on recent performance, portfolio changes, and market developments.China’s energy paradox
How should you consider the country – carbon culprit or climate saviour?China’s gen Z+
How the digital natives’ wants and needs create opportunities for forward-thinking Chinese companies.
Invest in this strategy
You can invest in this strategy through the following fund(s).
Explore further
Curious to learn more about our products and what we can offer you? Please get in touch.
How to invest in this strategy
You can invest in this strategy through the following fund(s).
Explore further
Curious to learn more about our products and what we can offer you? Please get in touch.
Important information
Baillie Gifford Overseas Limited is wholly owned by Baillie Gifford & Co. Baillie Gifford Overseas Limited provides investment management and advisory services to non-UK clients. Both are authorised and regulated by the Financial Conduct Authority.
The information provided does not constitute an offer of or solicitation for purchase or sale of securities or provision of any investment services. Any general enquiries regarding Baillie Gifford should be directed to the relevant individual as noted in the Contact Us section.
The information contained in this website has been compiled with considerable care to ensure its accuracy at the date of publication. However, no representation or warranty, express or implied, is made to its accuracy or completeness. Nothing in this information or elsewhere in this website shall exclude, limit or restrict our duties and liabilities to you under the United Kingdom's Financial Services and Markets Act 2000 or any conduct of business rules which we are bound to comply with.
This website is informative only and the information provided should not be considered as investment advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.