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
Data is not currently available for this share class.Holdings - 30/11/2024
Fund % 1 Tencent 9.7% 2 Meituan 7.6% 3 Alibaba 5.6% 4 Kweichow Moutai 4.6% 5 CATL 4.0% 6 Ping An Insurance 3.8% 7 PDD Holdings 3.5% 8 China Merchants Bank 3.2% 9 Midea 2.7% 10 BYD Company 2.5% Total 47.1% Sector Analysis 30/11/2024Fund %
- 1 Consumer Discretionary 33.35
- 2 Industrials 14.30
- 3 Communication Services 13.78
- 4 Information Technology 10.56
- 5 Consumer Staples 7.65
- 6 Financials 7.05
- 7 Health Care 3.84
- 8 Materials 3.78
- 9 Real Estate 1.45
- 10 Utilities 1.04
- 11 Energy 0.97
- 12 Cash 2.22
- 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.
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.
Application forms
Corporate governance
Factsheets
Investor tax reporting
Key investor information documents (KIIDs)
MIFID II ex-ante disclosures
Philosophy and process documents
Prospectus
Quarterly investor reports
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.
