PACIFIC HORIZON INVESTMENT TRUSTPACIFIC HORIZON INVESTMENT TRUST
Pacific Horizon aims to achieve capital growth through investment in the Asia-Pacific region (excluding Japan) and the Indian Sub-continent.
The Company’s portfolio is increasingly focused on the effect of technological change on economies and existing businesses.
Performance & Portfolio
Annual Performance to 30 June each year
Share Price -3.4% 41.7% 36.1% -8.9% 46.0% NAV -0.6% 39.5% 20.3% -6.3% 38.4% Index* 3.9% 30.8% 8.4% 3.6% 5.0%
All figures to 31/08/2020
Share Price 77.1% 89.5% 257.8% 301.7% NAV 55.4% 62.4% 197.7% 238.9% Index* 10.9% 13.6% 92.3% 125.2%
The value of your investment may go down as well as up, and you may not get back the amount you invested.
NAV is calculated with borrowings deducted at fair value for 1, 3 and 5 years and par value for 10 years.
*MSCI All Country Asia ex Japan Index.
Performance source: Morningstar and relevant underlying index provider(s), total return.
Please bear in mind that past performance is not a guide to future performance.
Pacific Horizon is only suitable for those investors prepared to accept a higher level of risk. This is because Pacific Horizon invests in the markets of the Asia Pacific region (excluding Japan) and of the Indian sub-continent, which are more volatile than the main international markets.Performance - 31/08/2020The value of your investment may go down as well as up, and you may not get back the amount you invested.
Comparative Index – changed from MSCI All Country Far East Ex Japan Index on 01/08/2011 to MSCI All Country Asia Ex Japan Index. In the above graph the indices have been chain-linked to form a single index.
Comparative index data is limited to a 5 year period from the current date. The graph is rebased to 100.
Please bear in mind that past performance is not a guide to future performance.
Pacific Horizon is only suitable for those investors prepared to accept a higher level of risk. This is because Pacific Horizon invests in the markets of the Asia Pacific region (excluding Japan) and of the Indian sub-continent, which are more volatile than the main international markets.Unfortunately we were unable to load the chart. Please try again later.Discount/Premium History at Fair - 31/08/2020The value of your investment may go down as well as up, and you may not get back the amount you invested.
If the graph shows negative figures this means that the share price is lower than the NAV at fair – this is known as trading at a Discount.
If the graph shows positive figures this means that the share price is higher than the NAV at fair - this is known as trading at Please bear in mind that past performance is not a guide to future performance.
Pacific Horizon is only suitable for those investors prepared to accept a higher level of risk. This is because Pacific Horizon invests in the markets of the Asia Pacific region (excluding Japan) and of the Indian sub-continent, which are more volatile than the main international markets.a Premium.
Holdings - 31/08/2020
Fund % 1 SEA Limited 10.0% 2 Alibaba 4.7% 3 JD.com 4.7% 4 Samsung SDI 3.3% 5 Li Ning 3.0% 6 Kingdee International Software 2.9% 7 Tata Motors 2.3% 8 Meituan Dianping 2.1% 9 Nickel Mines 2.1% 10 L&C BIO 1.8% Total 36.9%All holdings of 0.7% and above Fund % 1 SEA Limited 10.0% 2 Alibaba 4.7% 3 JD.com 4.7% 4 Samsung SDI 3.3% 5 Li Ning 3.0% 6 Kingdee International Software 2.9% 7 Tata Motors 2.3% 8 Meituan Dianping 2.1% 9 Nickel Mines 2.1% 10 L&C BIO 1.8% Total 36.9%Geographical Allocation of total assets - 31/08/2020Unfortunately we were unable to load the chart. Please try again later.Active Share - 31/08/2020Relative to MSCI All Country Asia Ex Japan Index. Source: Baillie Gifford & Co, MSCI.Unfortunately we were unable to load the chart. Please try again later.
InsightsAll insightsJune 2020
It's Time to Look East.
First to emerge from the coronavirus pandemic, the Asia ex Japan region is in robust health and its innovative companies are thriving. Roderick Snell surveys the Asian landscape and argues that Asia is where to look for superior long-term growth.May 2020
Pacific Horizon Investment Trust and Pacific Fund – Manager Insights.
Roderick Snell, investment manager of the Pacific Fund and the Pacific Horizon Investment Trust PLC, gives an update on the portfolios and explains why he believes it’s time to look East.March 2020
Trip Notes - Seoul.
A new generation of entrepreneurs is changing the way South Korea does business. Ewan Markson-Brown, manager of Pacific Horizon Investment Trust, travelled to the country’s capital to meet them.November 2019
The Digital Archipelago.
Two of Southeast Asia’s biggest nations are following China into rapid tech-led growth says Ewan Markson-Brown, manager of Pacific Horizon Investment Trust and co-manager of Baillie Gifford’s Pacific Fund.Third Quarter 2019
Finding Explosive Growth in Asia.
Investment managers Roderick Snell and Ewan Markson-Brown believe that Asia is going to be one of the fastest-growing regions over the coming decades. And they argue that the best way to unleash this potential in your portfolio is by buying growth companies in that growth region. They call this 'Growth Squared'.
View all Insights.
Meet the Managers
Ewan Markson-Brown - Manager
Ewan is an Investment Manager in the Emerging Markets Equity Team. He has co-managed the Pacific Fund since May 2014 and has managed Pacific Horizon Investment Trust PLC since March 2014. Prior to joining Baillie Gifford in 2013, Ewan was a Senior Vice President in Emerging Markets at PIMCO. He previously worked at Newton for five years, most recently as Lead Portfolio Manager on an Asia Pacific Equity Strategy, as well as segregated Asian income and Japanese Equities Strategies. Ewan also previously worked for Merrill Lynch Investment Managers as a Portfolio Manager in the Asia-Pacific region for six years. He graduated MA in Politics, Philosophy and Economics from the University of Oxford in 2000.
Roderick Snell - Deputy Manager
Roderick joined Baillie Gifford in 2006 and is an Investment Manager in the Emerging Markets Equity Team. He previously worked in the UK and European Equity Teams and has managed the Baillie Gifford Pacific Fund since 2010. Roderick graduated BSc (Hons) in Medical Biology from the University of Edinburgh in 2006.
How to Invest
You can invest in our funds via a number of fund platforms and supermarkets, please see the links opposite. Information on the range of funds available through platforms can be found in our Platform Matrix
Further information on our funds can be found in the relevant Key Investor Information and Prospectus Documents, which are available in English and will be sent to you free of charge on request.
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.
How to Invest
Getting Financial Advice
At Baillie Gifford we don’t provide financial advice, but we do try our best to provide you with all the information we think you might need to make investment decisions. Of course, we realise there are occasions when you may want the advice of an expert.
Using professional financial advice
An authorised intermediary can give you advice and help on how best to manage your financial affairs based on your circumstances and investment aspirations. They can also help keep track of all your different investment interests, saving you a lot of time and bookkeeping.
Finding a financial adviser near you
If you want to use an authorised intermediary, MyLocalAdviser is a website that allows you to search for authorised intermediaries in your area. You can visit their site on www.mylocaladviser.co.uk
You can access any literature about the Fund here, either by downloading or requesting a copy by post (where available). 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.
Investor Disclosure Document
Key Information Document
Other Fund Literature
Any investment in an investment trust involves risk. You should be aware of the following risks when considering investing.
Past performance is not a guide to future performance.
The value of your investment
The investment trusts managed by Baillie Gifford & Co Limited are listed UK companies and are not authorised or regulated by the Financial Conduct Authority. The value of their shares, and any income from them, can fall as well as rise and investors may not get back the amount invested.
The Trust invests in overseas securities. Changes in the rates of exchange may also cause the value of your investment (and any income it may pay) to go down or up.
The Trust invests in emerging markets where difficulties in dealing, settlement and custody could arise, resulting in a negative impact on the value of your investment.
The Trust can borrow money to make further investments (sometimes known as “gearing” or “leverage”). The risk is that when this money is repaid by the Trust, the value of the investments may not be enough to cover the borrowing and interest costs, and the Trust will make a loss. If the Trust's investments fall in value, any invested borrowings will increase the amount of this loss.
The Trust can buy back its own shares. The risks from borrowing, referred to above, are increased when a trust buys back its own shares.
Market values for securities which have become difficult to trade may not be readily available and there can be no assurance that any value assigned to such securities will accurately reflect the price the Trust might receive upon their sale.
The Trust can make use of derivatives to obtain, increase or reduce exposure to assets and may result in the Trust being leveraged. Derivatives are most often used to compensate for possible unfavourable currency and market movements. This may result in greater movements (down or up) in the net asset value of the Trust. It is not our intention that the use of derivatives will significantly alter the overall risk profile of the Trust. A further risk exists in respect of the counterparty with whom the derivative transaction is made. Due care and diligence is exercised in the selection of counterparties, however, the possibility of the counterparty failing to pay sums due to the Trust still remains.
The Trust's risk could be increased by its investment in unlisted investments. These assets may be more difficult to buy or sell, so changes in their prices may be greater.
Charges to income
Charges are deducted from income. Where income is low, the expenses may be greater than the total income received, meaning the Trust may not pay a dividend and the capital value would be reduced.
Income is less important
The aim of the Trust is to achieve capital growth. You should not expect a significant, or steady, annual income from the Trust.
Shareholders in the Trust have the right to vote every five years, on whether to continue the Trust or wind it up. If the shareholders decide to wind the Trust up, the assets will be sold and you will receive a cash sum in relation to your shareholding. The next vote will be held at the Annual General Meeting in 2021.
You should note that tax rates and reliefs may change at any time and their value depends on your circumstances.
The Trust is listed on the London Stock Exchange and is not authorised or regulated by the Financial Conduct Authority.
Information subject to change
The information and opinions expressed within this website are subject to change without notice.
Not Investment Advice
This information has been issued and approved by Baillie Gifford & Co Limited and does not in any way constitute investment advice.
Suitability for retail distribution
Please note that the Company currently conducts its affairs, and intends to continue to conduct its affairs, so that the Company’s ordinary shares can be recommended by Independent Financial Advisers to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream pooled investment products (NMPI). The Company’s ordinary shares are excluded from the FCA’s restrictions which apply to non-mainstream pooled investment products because they are shares in an investment trust.
Source: MSCI. The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an ‘as is’ basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the ‘MSCI Parties’) expressly disclaims all warranties (including, without limitation, any warranties or originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages (www.msci.com)