Capital at risk
Asia ex Japan
Around half of the world's population resides in Asia. Asian companies often have substantial addressable opportunities and decades of growth ahead of them.
We’ve been managing Asia ex Japan portfolios for over three decades and are grateful to be entrusted by a range of clients across the world.
A patient approach to investing
A patient approach in the least patient markets, helping clients benefit from powerful growth tailwinds in Asia. Investors should be open-minded about where growth can come from and know the market inefficiencies they are trying to exploit.
Asia ex Japan: our philosophy
Investment manager Roderick Snell introduces Asia ex Japan, reflecting on the exciting opportunities ahead.
Turning time to your advantage
Our key goal is to build strong relationships with like-minded clients. We know we can only do this if we deliver strong investment performance, net of costs, over the long term.
The number of genuinely world-class companies in Asian countries is growing, and we feel very fortunate to be tasked with seeking these out. We must invest with patience and give good decisions time to prove themselves.
We believe that being selective is imperative to those seeking the best results.
Appreciating the under-appreciated
We believe there are three persistent inefficiencies that we are well-placed to exploit for our clients:
- Growth duration: many companies grow for much longer than expected
- Growth pace: many companies grow much faster than expected
- Growth surprise: many companies grow when it’s least expected
Much of our process relies on the interplay of data, experience, educated creativity and probability. This does not necessarily lend itself to a matrix or flowchart.
Our portfolio consists of businesses that are leaders in what they do. We take confidence in the fact that these companies can invest capital productively and profitably.
Meet the managers
Documents
Quarterly update
Get the latest investment commentary, portfolio overview, transactions and performance information alongside governance engagement and voting.
Philosophy and process
Explore our investment philosophy and the processes around how the Asia Ex-Japan team construct the portfolio.
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You can invest in this strategy through the following fund(s).
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Curious to learn more about our products and what we can offer you? Please get in touch.
Strategy portfolio holdings
A list of the top 10 holdings that the representative portfolio invests in.
All figures up to: 28 February 2025
| # | Holding | % of portfolio |
|---|---|---|
| 1 | TSMC | 9.6% |
| 2 | Tencent | 8.2% |
| 3 | Samsung Electronics | 5.2% |
| 4 | Sea Limited | 3.6% |
| 5 | Meituan | 3.4% |
| 6 | CNOOC | 3.3% |
| 7 | MediaTek | 2.5% |
| 8 | SK Hynix | 2.5% |
| 9 | Accton Technology | 2.4% |
| 10 | Zijin Mining | 2.2% |
Please note
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.
Invest in this strategy
You can invest in this strategy through the following fund(s).
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Curious to learn more about our products and what we can offer you? Please get in touch.
Insights
Key articles, videos and podcasts relating to the strategy:
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Insights
Future Stocks: Our best ideas in Asia
Qian Zhang highlights three Asian companies at the forefront of global structural trends.
Asia ex Japan: portfolio manager update
Asia ex Japan Strategy’s performance, portfolio positioning and the region’s attractions for growth investors.
Vietnam: Asia’s rising star
Visiting Saigon, Roderick Snell explores what went right for the pro-business communist country.
Upfront: Asia’s emerging markets
Roderick Snell on investing in Asia – from a strengthening dollar to the semiconductor value chain.
Stock story: Pinduoduo
The innovative ecommerce company poised to take advantage of China’s large consumer base.
A long view of the east
With 35 years of investing behind us, we look to the future with our Asia-ex-Japan Strategy.
Asia ex Japan: portfolio manager update
The strategy’s performance, portfolio positioning and the region’s attractions for growth investors.
China: fear or FOMO?
Ben Buckler on how investors should steer between the twin poles of risk in China.
Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.
South-east Asia’s new export stars
Unearthing growth companies in Vietnam, Indonesia and Thailand.
Emerging markets – why bother?
Emerging markets have underperformed developed ones recently. So, why should we invest in them?
Finding China’s A-share jewels
The country’s domestic markets are rich in companies with the know-how to become global leaders.
Asia ex Japan Strategy
Investment manager, Roderick Snell, discusses the Baillie Gifford Asia ex Japan Strategy.
Asia ex Japan manager update
Roderick Snell and Qian Zhang discuss current views and portfolio positioning for the Asia ex Japan Strategy.
Asia ex Japan: our philosophy
Investment manager Roderick Snell introduces Asia ex Japan, reflecting on the exciting opportunities ahead.
Future Stocks: Our best ideas in Asia
Qian Zhang highlights three Asian companies at the forefront of global structural trends.Asia ex Japan: portfolio manager update
Asia ex Japan Strategy’s performance, portfolio positioning and the region’s attractions for growth investors.Vietnam: Asia’s rising star
Visiting Saigon, Roderick Snell explores what went right for the pro-business communist country.Upfront: Asia’s emerging markets
Roderick Snell on investing in Asia – from a strengthening dollar to the semiconductor value chain.Stock story: Pinduoduo
The innovative ecommerce company poised to take advantage of China’s large consumer base.A long view of the east
With 35 years of investing behind us, we look to the future with our Asia-ex-Japan Strategy.Asia ex Japan: portfolio manager update
The strategy’s performance, portfolio positioning and the region’s attractions for growth investors.China: fear or FOMO?
Ben Buckler on how investors should steer between the twin poles of risk in China.Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.South-east Asia’s new export stars
Unearthing growth companies in Vietnam, Indonesia and Thailand.Emerging markets – why bother?
Emerging markets have underperformed developed ones recently. So, why should we invest in them?Finding China’s A-share jewels
The country’s domestic markets are rich in companies with the know-how to become global leaders.Asia ex Japan Strategy
Investment manager, Roderick Snell, discusses the Baillie Gifford Asia ex Japan Strategy.Asia ex Japan manager update
Roderick Snell and Qian Zhang discuss current views and portfolio positioning for the Asia ex Japan Strategy.
Invest in this strategy
You can invest in this strategy through the following fund(s).
Explore further
Curious to learn more about our products and what we can offer you? Please get in touch.
How to invest in this strategy
You can invest in this strategy through the following fund(s).
Explore further
Curious to learn more about our products and what we can offer you? Please get in touch.
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”) and in the First Addendum to the Israel Securities Law, 5728-1968 (the “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.