1. Baillie Gifford China Growth Trust

    Baillie Gifford China Growth Trust

  2. Overview

    Baillie Gifford China Growth Trust aims to produce long term capital growth by investing predominantly in shares of, or depositary receipts representing the shares of, Chinese companies.

    Performance & Portfolio

    Periodic Performance

    All figures to 29/02/2024

    1 Year

    3 Years

    5 Years

    10 Years

    Share Price -29.3%-63.3%-35.3%5.2%
    NAV -28.6%-53.7%-35.8%1.5%
    Index* -18.5%-38.9%-21.5%30.3%

    Performance figures appear in GBP. 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.
    *Changed from MSCI AC Asia ex Pacific index to MSCI China All Shares Index on 16/09/20. Data chain-linked from this date to form a single comparative index
    Performance source: Morningstar and relevant underlying index provider, total return.
    Please bear in mind that past performance is not a guide to future performance.


    Discrete Performance

    Annual Performance to 31 December each year

    31/12/2018
    31/12/2019

    31/12/2019
    31/12/2020

    31/12/2020
    31/12/2021

    31/12/2021
    31/12/2022

    31/12/2022
    31/12/2023

    Share Price 20.3%56.1%-28.6%-25.6%-26.3%
    NAV 10.7%22.5%-14.0%-21.6%-24.0%
    Index* 15.1%12.6%-12.0%-13.8%-16.4%

    Performance figures appear in GBP. 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.
    *Changed from MSCI AC Asia ex Pacific index to MSCI China All Shares Index on 16/09/20. Data chain-linked from this date to form a single comparative index.
    Performance source: Morningstar and relevant underlying index provider, total return.
    Please bear in mind that past performance is not a guide to future performance.

    Holdings - 29/02/2024

    Fund %
    1 Tencent 8.0%
    2 ByteDance 7.7%
    3 Kweichow Moutai 5.7%
    4 Alibaba 5.4%
    5 Meituan 3.5%
    6 China Merchants Bank 3.2%
    7 Zijin Mining 3.1%
    8 Ping An Insurance 2.9%
    9 Zhejiang Sanhua Intelligent Controls 2.8%
    10 NetEase 2.7%
    Total 45.2%

    Meet the Managers

    Sophie Earnshaw

    Sophie is an investment manager in the China Equities Team. She is a decision maker on our All China Strategy, which she has managed since 2014, and on our A share Strategy since its inception in 2019. She also provides China insight to the Emerging Markets Leading Companies and International All Cap portfolio construction groups. She is a CFA Charterholder and graduated MA in English Literature from the University of Edinburgh in 2008 and MPhil in Eighteenth Century and Romantic Literature from the University of Cambridge in 2009.

    Linda Lin

    Linda is the head of the China Equities Team, and a decision maker on our All China and China A share strategies. She is also a member of the Long Term Global Growth Team. Linda joined Baillie Gifford in September 2014 and worked in Edinburgh until relocating to Shanghai in 2019 as Head of the Investment Team. She became a partner of the firm in May 2022 and is now based in Edinburgh. Prior to joining Baillie Gifford, Linda spent four years as a global equity analyst with Aubrey Capital and two years in real estate investment in China. She graduated BComm in Accounting and Finance from the University of Auckland, New Zealand in 2007 and MSc in Finance and Investment from the University of Edinburgh in 2011. Linda is a native Mandarin speaker.

    Documents

    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.

    Investment Intelligence

    Sustainability-related Disclosures

    Disclaimers

    MSCI Disclaimer

    Source: MSCI. The MSCI information may only be used for your internal use, may not be reproduced or disseminated 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 of 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)