Baillie Gifford China Growth Trust


£289.1m market cap

487.5p last close

BGCG’s objective is to provide shareholders with equity exposure to the Asia Pacific region, including Japan, Australia and India. It aims to outperform the MSCI AC Asia Pacific Free index (£). It has a multi-manager approach, currently employing four complementary managers: Aberdeen Standard Investments, Dalton Investments, Matthews International Capital Management and Robeco Institutional Asset Management.

Investment summary

The handover of Witan Pacific (WPC) to Baillie Gifford (BG) on 16 September 2020, following the board’s decision and favourable shareholders’ vote, marks the trust’s transition to the new asset manager. BG won the mandate with its proposal to transform the Asia Pacific growth and income trust into a pure China equity growth strategy. The manager considers that ‘still misunderstood and underinvested’ China (a c 2.5% allocation in 2019 global portfolios) is the key global growth market of the 21st century, and that global investors who miss out on the present China opportunity run the major risk of being left behind.

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Share price graph
Price performance
Actual (4.4) (8.0) 56.8
Relative* (6.6) (11.1) 28.7
52-week high/low 640.0p/305.0p
*% relative to local index
Key management
Susan Platts-Martin Chairman
James Hart Investment Director

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