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About the company
Baillie Gifford China Growth Trust plc is a United Kingdom-based investment trust. The Company’s investment objective is to produce long term capital growth by investing predominantly in shares of, or depositary receipts representing the shares of, Chinese companies. The Company invests in Chinese companies that are listed, quoted, or traded on any market, or unlisted. Its portfolio comprises between 40 and 80 listed and unlisted securities. The Company invests up to 20% of its assets in companies not listed on the public market. It invests up to 10%, in the aggregate, of gross asset value at the time of acquisition in other listed closed-ended investment funds. It has investments in various sectors, including consumer discretionary, communication services, industrials, information technology, health care, consumer staples, financials, materials, utilities, real estate and net liquid assets. Its alternative investment fund manager (AIFM) is Baillie Gifford & Co Limited.
- Revenue in GBP (TTM)-80.90m
- Net income in GBP-83.18m
- Incorporated1907
- Employees0.00
- LocationBaillie Gifford China Growth Trust plcCalton Square, 1 Greenside RowEDINBURGH EH1 3ANUnited KingdomGBR
- Websitehttps://www.bailliegifford.com/en/uk/individual-investors/funds/baillie-gifford-china-growth-trust/
Profile
| Management group(s) | Baillie Gifford & Co Limited. |
|---|---|
| AIC sector | China / Greater China |
| ISIN | GB0003656021 |
| Launch date | 24 Jan 1907 |
| Share type | Ordinary Share |
| Structure | Investment Trust |
| Base currency | GBP |
Objective
The Trust aims to produce long term capital growth by investing in an actively managed portfolio of Chinese companies. Up to a maximum of 20% of assets may be invested in companies not listed on a public market (measured at time of purchase). We invest on a long-term (5 year) perspective, and have a strong preference for growth. We are looking for significant upside in each stock that we invest in. The process is driven by rigorous, fundamental, bottom-up analysis undertaken by our dedicated emerging markets team, with input from our China office. The fund managers draw on this analysis, as well as insights gleaned from discussion with all of Baillie Gifford’s global investors, to produce a portfolio that typically holds 40–80 stocks.
Managed by
| Sophie Earnshaw, Linda Lin |
|---|
Management & contract fees
The annual management fee of (i) 0.75 % of NAV on the first GBP 50m ; plus (ii) 0.65 % of NAV between GBP50m and GBP250m; plus (iii) 0.55% of NAV in excess of GBP250m. This is calculated and payable on a quarterly basis. The Investment Management Agreement can be terminated on three months notice.
Peer analysis
| Company | Revenue (TTM) | Net income (TTM) |
|---|---|---|
| Shires Income plc | 625.00k | -1.47m |
| Blackrock Latin Amercn Invstmnt Trst PLC | 42.69m | 40.20m |
| CT UK High Income Trust PLC | 13.29m | 11.22m |
| VietNam Holding Ltd | 19.44m | 16.65m |
| Us Solar Fund PLC | -27.07m | -32.41m |
| Baillie Gifford China Growth Trust PLC | -80.90m | -83.18m |
| Weiss Korea Opportunity Fund Ltd | -2.31m | -6.45m |
| Octopus AIM VCT plc | -14.83m | -17.73m |
| Premier Miton Group PLC | 68.90m | 2.09m |
| Northern Venture Trust plc | 5.92m | 3.22m |
| VPC Specialty Lending Investments PLC | -10.18m | -25.83m |
| CQS Natural Rsrcs Grwth Inc PLC | -9.74m | -13.69m |
| Albion KAY VCT PLC | 4.80m | 2.14m |
| Molten Ventures VCT PLC | -5.00m | -8.05m |
| Amati AIM VCT PLC | -41.59m | -44.82m |
| Northern 2 VCT plc | 5.51m | 2.85m |
Institutional shareholders
| Holder | Shares | % Held |
|---|---|---|
| IA Clarington Investments, Inc.as of 30 Aug 2024 | 18.65m | 30.98% |
| City of London Investment Management Co. Ltd.as of 27 Aug 2024 | 11.46m | 19.04% |
| Bill & Melinda Gates Foundation Trust (Investment Management)as of 01 Jul 2024 | 3.80m | 6.32% |
| Rathbones Investment Management Ltd.as of 10 Nov 2022 | 3.03m | 5.03% |
| Hargreaves Lansdown Asset Management Ltd.as of 01 Jul 2024 | 2.34m | 3.88% |
| Wesleyan Assurance Societyas of 01 Jul 2024 | 1.41m | 2.34% |
| BlackRock Investment Management (UK) Ltd.as of 01 Jul 2024 | 887.00k | 1.47% |
| Legal & General Investment Management Ltd.as of 01 Jul 2024 | 863.00k | 1.43% |
| Investec Wealth & Investment Ltd.as of 01 Jul 2024 | 550.00k | 0.91% |
| Bank of Singapore Ltd.as of 01 Jul 2024 | 371.23k | 0.62% |
