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Baillie Gifford China Growth Trust Letters & Research Archive

6 pieces · 2025–2026 · updated every Monday

2026

09-08Baillie Gifford China Growth Investment Trust FactsheetThis factsheet covers Baillie Gifford's China Growth fund. Over the past year, the fund returned 7.5%, beating its benchmark (MSCI China All Shares Index, a broad measure of Chinese stocks). The report doesn't give a direct market view, but the fund uses only 4% gearing (borrowed money) and has a 23% turnover rate (meaning it doesn't trade often), suggesting a long-term approach. Top holdings include ByteDance (14.2%, the largest position), Tence…→08-12Baillie Gifford China Growth Investment Trust FactsheetThis China growth fund gained 16% in net asset value over the past year (16.2% in share price), beating its benchmark's 4.6%, but it is still down over five years. Managers give no market view, only saying they pick stocks with big long-term upside over five-year horizons. Top holdings: ByteDance (14.1% of assets, the largest position), Tencent (9.8%), and Alibaba (5.6%). The fund holds 60 stocks, with the top ten roughly half the portfolio.→07-09Baillie Gifford China Growth Investment Trust FactsheetThis summary covers a monthly update for the Baillie Gifford China Growth fund. The fund rose 22% in the past year, beating the market average, but over five years it lost 27%—worse than its benchmark. The reason is that it concentrates money in a few high-growth firms, like ByteDance at around 14% of assets. That makes returns swing sharply. For ordinary investors, this means the fund is risky: a good recent year doesn't guarantee long-term resu…→07-01China Growth Trust Valuation - 30 April 2026This document is a fund's holdings list as of April 2026. It shows which Chinese companies the fund has invested in and how much. The fund is almost fully invested—99.9% in stocks—with its biggest positions being ByteDance (TikTok's parent), Tencent, and Alibaba. It also holds stakes in private companies like RedNote and AI firm Minimax, which are harder to value and riskier. One healthcare stock is marked at zero, meaning it's a total loss. For…→04-09Baillie Gifford China Growth Trust Annual Report - January 2026This report is the annual update for a fund that invests in Chinese growth companies, including private ones like ByteDance. Last year it did well, beating its benchmark by a wide margin. For ordinary investors, the key takeaway is that Chinese growth stocks can pay off, but there are risks: the economy is growing slowly in nominal terms with falling prices, and over 10% of the fund sits in one unlisted company, whose value depends on buyback pri…→

2025

10-07Baillie Gifford China Growth Trust Interim Financial Report - July 2025This report is a half-year update for a UK investment fund focused on Chinese growth stocks. The fund returned 14.6% over six months, beating its benchmark by 4.3 percentage points. The manager argues that Chinese private companies in electric vehicles, e-commerce, and AI are globally competitive, with faster profit growth than their valuation suggests. For everyday investors, it shows how professional money thinks about China beyond the headline…→