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Overview
The Worldwide China Fund aims to invest in an actively managed portfolio of Chinese companies, regardless of listing locations. The portfolio typically holds 40-80 companies. We invest on a long-term (5 year) perspective, and have a strong preference for growth.
Performance & Portfolio
Select currencyCumulative PerformanceRebased to 100 at the start date of this chart.
B Acc USD share class launched on 28 June 2021.
Past performance is not a guide to future returns. The value of your investment may go down as well as up, and you may not get back the amount you invested.
Baillie Gifford operates a single swinging price for the Fund and, therefore, may apply a dilution adjustment to the price to protect long-term investors from the costs associated with buying and selling underlying investments that result from other investors joining or leaving the Fund. This adjustment will affect relative performance, either positively or negatively.
Share class performance converted to chosen currency.
Source: Baillie Gifford & Co, BBH, Revolution, relevant underlying index provider.
Holdings - 31/03/2025
Fund % 1 Tencent 9.7% 2 Alibaba 7.4% 3 Meituan 6.1% 4 Kweichow Moutai 4.2% 5 PDD Holdings 3.7% 6 China Merchants Bank 3.6% 7 BYD Company 3.5% 8 Ping An Insurance 3.4% 9 CATL 3.3% 10 Pop Mart International Group 2.6% Total 47.6% Sector Analysis 31/03/2025Fund %
- 1 Consumer Discretionary 37.81
- 2 Communication Services 13.80
- 3 Industrials 13.42
- 4 Information Technology 9.16
- 5 Financials 7.06
- 6 Consumer Staples 6.87
- 7 Materials 3.64
- 8 Health Care 3.47
- 9 Real Estate 1.46
- 10 Energy 1.31
- 11 Utilities 1.11
- 12 Cash 0.89
- Total 100.00
Totals may not sum due to rounding.
As well as cash in the bank, this balance includes unsettled cash flows arising from both shareholder flows and outstanding trades. Therefore, a negative balance may arise from timing differences between shareholder flows and security trading and does not necessarily represent a bank overdraft.
Insights
Managers
Sophie Earnshaw
Sophie is an investment manager in the China Equities Team. She is a decision maker on our China Equities Strategy, which she has managed since 2014, and on our China 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.
How to Invest
You can invest in a range of our funds via a number of fund platforms and supermarkets. Certain share classes are available for investment via a number of platforms. Please see the links opposite.
Baillie Gifford does not sponsor, maintain or have any control over the content of any other websites.
Therefore, we are not responsible for the adequacy or accuracy of any of the information you may view, nor do we undertake to ensure successful transmission to any linked website.
How to Invest
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.
Annual reports
Application forms
Corporate governance
Factsheets
Important disclosures
Interim reports
MIFID II ex-ante disclosures
Other fund literature
Philosophy and process documents
Prospectus
Quarterly investor reports
Sustainability-related disclosures and climate reports
Shareholders rights directive
PRIIPs key information document
PRIIPs performance disclosures
Further Information
COMPLAINTS CONTACT DETAILS
In the first instance, clients should contact their normal Client Contact with any concerns. Alternatively, or for those clients who do not have a direct client contact assigned, complaints can be emailed to Baillie Gifford’s Compliance Department at: InstitutionalComplaints@bailliegifford.com. A summary document which contains details on Baillie Gifford’s complaints management policy is available upon request. All material complaints are recorded in an in-house incident management system and are escalated to, and dealt with by, members of staff of suitable seniority, independent of the area from which the matter arose.Risks
Investment markets can go down as well as up and market conditions can change rapidly. The value of an investment in the Fund, and any income from it, can fall as well as rise and investors may not get back the amount invested.
The specific risks associated with the Fund include:
Custody
Custody of assets, particularly in emerging markets, involves a risk of loss if a custodian becomes insolvent or breaches duties of care.
Single Country
The Fund’s exposure to a single market may increase share price movements.
Emerging Markets
The Fund invests primarily in the shares of, or depositary receipts representing the shares of, Chinese companies where difficulties with market volatility, political and economic instability including the risk of market shutdown, trading, liquidity, settlement, corporate governance, regulation, legislation and taxation could arise, resulting in a negative impact on the value of your investment.
Concentration
The Fund’s concentration in a particular geographical area or industry may result in large movements in the share price in the short term.
Foreign Currency
The Fund has exposure to foreign currencies and changes in the rates of exchange will cause the value of any investment, and income from it, to fall as well as rise and you may not get back the amount invested.
Volatility
The Fund’s share price can be volatile due to movements in the prices of the underlying holdings and the basis on which the Fund is priced.
Further Details
Further details of the risks associated with investing in the Fund can be found in the Key Information Document (KID), or the Prospectus. Copies of both the KID and Prospectus are available at bailliegifford.com.
Definitions
Active Share: A measure of the Fund's overlap with the benchmark. An active share of 100 indicates no overlap with the benchmark and an active share of zero indicates a portfolio that tracks the benchmark.
Important Information
Baillie Gifford Overseas Limited provides investment management and advisory services to non-UK clients and is authorised and regulated by the UK Financial Conduct Authority. Baillie Gifford Overseas Limited is not licensed under the Regulation of Investment Advising, Investment Marketing and Portfolio Management Law, 5755-1995 (the “Advice Law”) and does not carry insurance pursuant to the Advice Law.
Baillie Gifford Overseas Limited markets and distributes Baillie Gifford’s range of collective investment schemes to Qualified Clients and Qualified Investors in Israel, as listed in the First Addendum to the [Regulation of Investment Advising, Investment Marketing and Portfolio Management Law, 5755-1995 (the “Advice Law”)]/[Advice Law] and in the First Addendum to the [Israel Securities Law, 5728-1968 (the “Securities Law”)]/ [Securities Law]. Detailed disclosure of the collective investment schemes can be found within this website and in the relevant scheme prospectus.
Baillie Gifford Overseas Limited does not provide investment advice. If you are in any doubt about whether an investment is suitable, you should seek independent advice.
No action has been or will be taken in Israel that would permit a public offering or distribution of the Funds mentioned in this website to the public in Israel. This website and the Funds mentioned herein have not been approved by the Israeli Securities Authority (the “ISA”). In addition, the Funds mentioned in this website are not regulated under the provisions of Israel’s Joint Investment Trusts law, 5754-1994 (the “Joint Investment Trusts Law”). This website and the Funds mentioned herein will only be distributed to Israeli residents in reliance on an exemption from any advice or marketing restrictions [in a manner that will not constitute “an offer to the public” under sections 15 and 15a of]/[in reliance on an exemption from the prospectus requirements under] the Israel Securities Law, 5728-1968 (the “Securities Law”) or the Joint Investment Trusts Law, and any guidelines, pronouncements or rulings issued from time to time by the ISA as applicable.
