Baillie Gifford China B

Equity fund invested primarily in China, Hong Kong and Taiwan

  • 821.80p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • 920.40p
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 1.00% 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.72%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 0.82%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.50%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 22 January 2021

The fund's objective is to produce attractive capital growth over the long term by investing in shares of companies listed on the stock exchanges in China, Taiwan and Hong Kong.

Fund summary

Sector China/Greater China
Structure OEIC
Launched November, 2008
Size £530m
Yield 0.50%
Charging basis Income
Dividends paid 1 May

Charges

Standard initial charge 1.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.72%
Ongoing charges figure 0.82%

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Investment process

The fund aims achieve long term capital growth by investing directly or indirectly in companies listed on the stock exchanges of mainland China, Hong Kong and Taiwan and those securities that are listed on other exchanges but derive their main revenues or profits from these countries. Additionally, the fund will have the ability to invest up to ten per cent in value of the fund in collective investment schemes and deposits.

Manager research

Average monthly relative returns

  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.53%
  • 19/20 -0.35%
  • 20/21 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.26%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 81.90%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Mike Gush

Gush joined Baillie Gifford in 2003 as an Investment Manager in the Emerging Markets Team. He holds a MEng from Durham University and is CFA charterholder.

Track record

Mike Gush has 2.6 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.26%. During the worst period of relative performance (from August 2009 - January 2011) there was a decline of 6% relative to the index. The worst absolute loss has been 11%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 82%.

Periods of worst performance

Absolute -11.00% (December 2010 - February 2011)
Relative -6.00% (August 2009 - January 2011)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Top 10 holdings

Data accurate as at 31 July 2020

9.6% Alibaba Group Hldg Ltd
9.5% Tencent Hldgs Limited
5.6% Ping An Insurance(Gr)Co Of China
4.6% Jd.com
4.3% Meituan Dianping
3.6% Kweichow Moutai
2.4% China Merchants Bank Co Ltd
2.3% Netease Inc
2.1% Guangzhou Kingmed Diagnostics Group
2% Contemporary Amperex Technology Co
Source: Trustnet

Sector breakdown

Consumer Discretionary 31.00%
Health Care 15.00%
Communications 15.00%
Financials 11.00%
Consumer Staples 9.00%
Information Technology 8.00%
Industrials 6.00%
Energy 2.00%
Materials 1.00%
Utilities 1.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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