1. Pacific Horizon Investment Trust

    Pacific Horizon Investment Trust

  2. Overview

    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

    Periodic Performance

    All figures to 29/02/2024

    1 Year

    3 Years

    5 Years

    10 Years

    Share Price -6.8%-26.0%83.5%257.1%
    NAV 3.6%-12.4%106.0%253.9%
    Index* 0.8%-14.2%16.7%102.4%

    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.
    *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.


    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 14.0%128.6%15.5%-32.5%-4.9%
    NAV 22.7%86.3%20.7%-21.9%-2.4%
    Index* 13.9%21.5%-3.6%-9.2%0.3%

    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.
    *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 - 29/02/2024

    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.
    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.

    Holdings - 29/02/2024

    Fund %
    1 Samsung Electronics 7.2%
    2 Daily Hunt 4.1%
    3 Tata Motors 4.1%
    4 Ramkrishna Forgings 3.8%
    5 Delhivery 3.8%
    6 Indiabulls Real Estate 3.6%
    7 EO Technics 3.3%
    8 Zijin Mining 2.7%
    9 Phoenix Mills 2.6%
    10 Bank Rakyat Indonesia 2.5%
    Total 37.6%
    Active Share - 29/02/2024

    Relative to MSCI All Country Asia Ex Japan Index. Source: Baillie Gifford & Co, MSCI.

    Geographical Allocation of total assets - 29/02/2024

    Fund %

    • 1 India 34.81
    • 2 China 20.21
    • 3 Korea 16.71
    • 4 Vietnam 8.79
    • 5 Taiwan 7.72
    • 6 Indonesia 3.85
    • 7 China 'A' Shares 3.20
    • 8 Singapore 2.65
    • 9 Hong Kong 1.70
    • 10 Kazakhstan 1.30
    • 11 Thailand 0.90
    • 12 Net Liquid Assets -1.81
    • Total 100.00

    As the Fund 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 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.

    Meet the Managers

    Roddy Snell - Manager

    Roddy is an investment manager in the Emerging Markets Equity Team. He joined Baillie Gifford in 2006 and became a partner of the firm in 2023. He has managed the Baillie Gifford Pacific Fund since 2010 and the Pacific Horizon Investment Trust since 2021 (having been deputy since 2013). Roddy became a member of the International Alpha Portfolio Construction Group in 2024. Prior to joining the Emerging Markets Equity Team in 2008, he also spent time in the UK and European equity teams. Roddy graduated BSc (Hons) in medical biology from the University of Edinburgh in 2006.

    Ben Durrant - Deputy Manager

    Ben is an investment manager in the Emerging Markets Equity Team. He has managed the Pacific Fund since 2021 and became deputy manager of the Pacific Horizon Investment Trust in 2023. He joined Baillie Gifford in 2017 and has also spent time in our UK, Global Discovery and Private Companies teams. Prior to joining the firm, he worked for RBS. Ben is a chartered accountant and a CFA Charterholder. He graduated BSc in Mathematics from the University of Edinburgh in 2012.

    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

    Investor Disclosure Document

    Sustainability-related Disclosures

    PRIIPs Key Information Document

    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)