Overview
Investment proposition
Strategy behind the fund
ChinaShare price and charges
Share class
B, Acc, USDNAV per share
7.12% change
-0.83%Ongoing charges*
0.87%Initial charge
0%Fund facts
Current number of holdings
60
Guideline number of holdings
40-80
Benchmark
MSCI China All Shares
Active share
65%**
Annual turnover
28%
Fund launch date
28 June 2021
Style
Growth
Fund Settlement Cycle
Trade date plus three business days (T+3)
Fund size calculated using base currency in US dollars and converted into listed currencies.
**Relative to MSCI All Share Index. Source: Baillie Gifford & Co, MSCI.
Meet the managers
Risks
General Investment Risk
Investment markets can go down as well as up and market conditions can change rapidly. The value of an investment in the Fund, and any income from it, can fall as well as rise and investors may not get back the amount invested. The specific risks associated with the Fund include:
Custody
Custody of assets, particularly in emerging markets, involves a risk of loss if a custodian becomes insolvent or breaches duties of care.
Single Country
The Fund's exposure to a single market may increase share price movements.
Emerging Markets
The Fund invests primarily in the shares of, or depositary receipts representing the shares of, Chinese companies where difficulties with market volatility, political and economic instability including the risk of market shutdown, trading, liquidity, settlement, corporate governance, regulation, legislation and taxation could arise, resulting in a negative impact on the value of your investment.
Concentration
The Fund's concentration in a particular geographical area or industry may result in large movements in the share price in the short term.
Foreign Currency
The Fund has exposure to foreign currencies and changes in the rates of exchange will cause the value of any investment, and income from it, to fall as well as rise and you may not get back the amount invested.
Volatility
The Fund's share price can be volatile due to movements in the prices of the underlying holdings and the basis on which the Fund is priced.
Further Details
Further details of the risks associated with investing in the Fund can be found in the Key Information Document (KID), or the Prospectus. Copies of both the KID and Prospectus are available at bailliegifford.com.
Definitions
Active Share - A measure of the Fund's overlap with the benchmark. An active share of 100 indicates no overlap with the benchmark and an active share of zero indicates a portfolio that tracks the benchmark.
Index disclaimer
Complaints
In the first instance, clients should contact their normal Client Contact with any concerns. Alternatively, or for those clients who do not have a direct client contact assigned, complaints can be emailed to Baillie Gifford’s Compliance Department at: InstitutionalComplaints@bailliegifford.com.
A summary document which contains details on Baillie Gifford’s complaints management policy is available upon request. All material complaints are recorded in an in-house incident management system and are escalated to, and dealt with by, members of staff of suitable seniority, independent of the area from which the matter arose.
Fund performance
Fund portfolio holdings
The list of top 10 holdings that this fund invests in.
As at: 30 April 2026
| # | Holding | % of total assets |
|---|---|---|
| 1 | Tencent | 8.7% |
| 2 | Alibaba | 6.8% |
| 3 | CATL | 5.3% |
| 4 | Ping An Insurance | 3.9% |
| 5 | Kweichow Moutai | 3.3% |
| 6 | China Merchants Bank | 3.1% |
| 7 | Zijin Mining Group | 2.9% |
| 8 | China Construction Bank | 2.7% |
| 9 | PDD Holdings | 2.6% |
| 10 | CNOOC | 2.4% |
Sector
As at: 30 April 2026
# | Sector | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | Consumer Discretionary | 25.6 | 17.9 | 7.7 |
| 2 | Industrials | 15.1 | 9.5 | 5.5 |
| 3 | Information Technology | 13.3 | 16.7 | -3.4 |
| 4 | Communication Services | 12.9 | 11.8 | 1.1 |
| 5 | Materials | 10.0 | 8.4 | 1.6 |
| 6 | Financials | 9.7 | 19.1 | -9.4 |
| 7 | Consumer Staples | 3.9 | 4.8 | -0.9 |
| 8 | Energy | 3.1 | 3.5 | -0.4 |
| 9 | Health Care | 2.1 | 4.6 | -2.6 |
| 10 | Utilities | 2.1 | 2.4 | -0.4 |
| 11 | Cash | 2.3 | 0.0 | 2.3 |
Total | 100.0 | 98.8 |
Quarterly transactions
Transactions for the three-month period ending 31 March 2026
New purchases
- Air China 'H'
- Anhui Conch Cement Co Ltd 'H'
- Boe Technology Group Co Ltd 'A' - Stock Connect
- China Construction Bank Corp 'H'
- Ganfeng Lithium Gp
- Inner Mongolia Xingye Silv 'A' - Stock Connect
- Laopu Gold 'H'
- Minimax
- Montage Technology Co Ltd 'H'
- Wanhua Chemical Group 'A' - Stock Connect
Complete sales
- Ctrip.com International
- Dongguan Yiheda Automation Co 'A'
- Estun Automation 'A'
- KE Holdings (HK Line)
- Kingdee Int'l Software Group
- Kingsoft Corp Ltd
- Li Ning
- Medlive Technology Co Ltd
- Proya Cosmetics 'A'
- Shanxi Xinghuacun Fen Wine 'A' - Stock Connect
- Shenzhen Megmeet Electrical 'A'
Additions
- BYD Company 'H'
- CATL 'A'
- China Mobile
- CNOOC
- Pop Mart International Group L
- Tencent
Reductions
- Midea Group 'A'
- Minimax
- Sanhua Intelligent Controls 'A'
- Sinocera Material 'A'
- Weichai Power 'H'
- Zijin Gold International
- Zijin Mining Group Co Ltd 'H'
Insights
Key articles, videos and podcasts relating to the fund:
Filters
Insights
China Q1 investment update
Investment specialist Ben Buckler reflects on recent performance, portfolio changes and market developments.
China Q4 investment update
Investment manager Linda Lin reflects on recent performance, portfolio changes and market developments.
Tencent: Stock Story
Fernanda Lai explores how Tencent became the super-app pioneer connecting over one billion users.
China Q3 investment update
Investment manager Linda Lin reflects on recent performance, portfolio changes and market developments.
China Q2 investment update
Investment manager Sophie Earnshaw reflects on recent performance, portfolio changes and market developments.
China: a tale of two stories
Why China is experiencing an industrial boom despite slower growth in traditional sectors.
China Q1 investment update
The China Team reflects on recent performance, portfolio changes and market developments.
Moutai: Stock Story
Ben Buckler investigates the Chinese brand dominating the global luxury drinks market.
Kweichow Moutai: spirit of China
The fiery spirit that’s a profitable symbol of Chinese culture and luxury.
Stock story: Pinduoduo
The innovative ecommerce company poised to take advantage of China’s large consumer base.
China: fear or FOMO?
Ben Buckler on how investors should steer between the twin poles of risk in China.
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’s energy paradox
How should you consider the country – carbon culprit or climate saviour?
The real case for China
Willingness to change gives Chinese firms an innovation advantage.
China’s gen Z+
How the digital natives’ wants and needs create opportunities for forward-thinking Chinese companies.
China - adjusting the lens
The future is inherently uncertain, but the acceleration of disruption, developments in innovation and shifts in consumption patterns will create winners and losers. China will play a critical role.
Governance in China: risk or opportunity?
Growing familiarity with China’s markets invites closer examination of governance at a country and corporate level. A company by company approach is vital to limit the risks and find the opportunities, writes Ben Lloyd.
Changing China
Ben Buckler explores the A share opportunity in China.
China Q1 investment update
Investment specialist Ben Buckler reflects on recent performance, portfolio changes and market developments.China Q4 investment update
Investment manager Linda Lin reflects on recent performance, portfolio changes and market developments.Tencent: Stock Story
Fernanda Lai explores how Tencent became the super-app pioneer connecting over one billion users.China Q3 investment update
Investment manager Linda Lin reflects on recent performance, portfolio changes and market developments.China Q2 investment update
Investment manager Sophie Earnshaw reflects on recent performance, portfolio changes and market developments.China: a tale of two stories
Why China is experiencing an industrial boom despite slower growth in traditional sectors.China Q1 investment update
The China Team reflects on recent performance, portfolio changes and market developments.Moutai: Stock Story
Ben Buckler investigates the Chinese brand dominating the global luxury drinks market.Kweichow Moutai: spirit of China
The fiery spirit that’s a profitable symbol of Chinese culture and luxury.Stock story: Pinduoduo
The innovative ecommerce company poised to take advantage of China’s large consumer base.China: fear or FOMO?
Ben Buckler on how investors should steer between the twin poles of risk in China.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’s energy paradox
How should you consider the country – carbon culprit or climate saviour?The real case for China
Willingness to change gives Chinese firms an innovation advantage.China’s gen Z+
How the digital natives’ wants and needs create opportunities for forward-thinking Chinese companies.China - adjusting the lens
The future is inherently uncertain, but the acceleration of disruption, developments in innovation and shifts in consumption patterns will create winners and losers. China will play a critical role.Governance in China: risk or opportunity?
Growing familiarity with China’s markets invites closer examination of governance at a country and corporate level. A company by company approach is vital to limit the risks and find the opportunities, writes Ben Lloyd.Changing China
Ben Buckler explores the A share opportunity in China.
How to invest
You can invest in our funds through a wide range of investment platforms. If your preferred platform does not currently offer our funds, they may be made available upon request by contacting the platform directly.
Baillie Gifford does not sponsor, maintain, or have any control over the content of any other websites. Therefore, we are not responsible for the adequacy or accuracy of any of the information you may view, nor do we undertake to ensure successful transmission to any linked website.
Documents
Documents
You can access any literature about the Fund here.
To download any document you will need Adobe Reader. Please note that we can now provide you with Braille and audio transcriptions of our literature on request. It may take up to 10 days for the transcription to be completed dependent on the size of the document.