Overview
Baillie Gifford China Growth Trust (formerly Witan Pacific) aims to produce long term capital growth by investing predominantly in shares of, or depositary receipts representing the shares of, Chinese companies.
The portfolio is invested in 40-80 Chinese companies which the managers believe are most likely to deliver outstanding growth over the next five to 10 years. The portfolio is similar to that of Baillie Gifford China Fund. However, the trust will have the added advantage of financial gearing and being able to invest into smaller cap and unlisted companies, the latter of which are becoming an ever more important investment opportunity in China.
You can access the manager’s website here
Fundamentals
Price
Research History
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12 Nov 2020 9 min read
QuotedData’s Investment Companies Roundup – November 2020
Investment Companies Monthly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research Performance data Discounts and premiums Money in and out Major news stories Events Guide Legal New research Here is a list of research we published over October: Herald Investment Trust – Hot chips “Reflecting its focus on technology, […]
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16 Oct 2020 15 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research Guide The legal bit Stubborn resistance The end […]
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09 Oct 2020 10 min read
QuotedData’s Economic Roundup – October 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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12 Nov 2019 1 min read
QuotedData’s economic roundup – November 2019
Economic & Political Roundup
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08 May 2019 6 min read
QuotedData’s economic roundup – May 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
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13 Nov 2018 2 min read
QuotedData’s economic roundup – November 2018
QuotedData’s economic roundup – November 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any […]
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18 Jul 2018 2 min read
Quarterly Investment Companies Roundup – Second Quarter 2018
QUARTERLY INVESTMENT COMPANIES ROUNDUP – SECOND QUARTER 2018 Global equities markets rose in the second quarter of 2018, Markets were volatile, as positive economic data and encouraging company performances played off against geopolitical concerns. Yields from bond markets rose early in the quarter but fell back as investors turned to ‘safer’ investments. The threat of […]
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11 May 2018 2 min read
QuotedData’s Economic round up – May 2018
QuotedData’s economic round up – May 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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1 min read
QuotedData’s investment companies roundup – May 2018
QuotedData investment companies roundup – May 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2018. Kindly sponsored by Baillie Gifford. India Capital Growth has experience a rebound in performance in the past month, as […]
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18 Apr 2018 2 min read
QuotedData’s Economic round up – April 2018
QuotedData’s economic round up – April 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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10 Nov 2017 2 min read
QuotedData’s economic round up – November 2017
QuotedData’s economic round up – November 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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19 Oct 2017 2 min read
Quarterly investment companies roundup – Third quarter 2017
Quarterly investment companies roundup – Third quarter 2017 – Markets moved up a little over the course of the three months ended 30 September 2017. Regionally, emerging markets did well. The pound strengthened a bit relative to the US dollar but was flat against the euro. The oil price rose by more than 20%. In […]
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14 Sep 2017 2 min read
QuotedData investment companies roundup – September 2017
QuotedData investment companies roundup – September 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2017. Kindly sponsored by Baillie Gifford. September Investment Companies Roundup Winners and losers in August Ashmore Global’s […]
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16 May 2017 1 min read
QuotedData’s economic round up – May 2017
QuotedData’s economic round up – May 2017 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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13 Oct 2016 1 min read
QuotedData’s round up of views on the global economy – October 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. october-economic-and-political-roundup
News
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11 Feb 2021 2 min read
QuotedData’s morning briefing 11 February 2021
In QuotedData’s morning briefing 11 February 2021: Schroder European Real Estate says that at its Metromar shopping centre in Seville (which it owns in a 50/50 joint venture) one of the fashion anchor tenants will exercise its lease termination right. This termination accounts for approximately 3,000 sqm (14%) of the total space. The rent due will continue […]
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02 Feb 2021 2 min read
QuotedData’s morning briefing 2 February 2021
In QuotedData’s morning briefing 2 February 2021: BlackRock World Mining has revalued its investment in OZ Minerals Brazilian Royalty from $23.6m to $30.1m, adding 2.7p to its NAV. BlackRock Throgmorton Trust has appointed Merryn Somerset Webb as a non-executive director with effect from 24 March 2021. Merryn is the editor-in-chief of MoneyWeek, the UK personal finance magazine […]
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15 Jan 2021 3 min read
QD view – the dangers of political risk
One of the best places to be invested last year was China. JPMorgan China Growth and Income managed to almost double in share price terms over 2020. Fidelity China was up by more than two thirds and Baillie Gifford China was up by more than 50% (though this was mainly related to discount narrowing on […]
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15 Oct 2020 1 min read
QuotedData’s morning briefing 15 October 2020
In QuotedData’s morning briefing 15 October 2020 Polar Capital Global Healthcare has agreed a fee reduction with its manager. The base management fee prior to the revision was 0.85% on the lower of the market capitalisation and adjusted net asset value. The revised fee, which is in place with effect from 1 October 2020, is 0.75% […]
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01 Oct 2020 2 min read
QuotedData’s morning briefing 1 October 2020
In QuotedData’s morning briefing 1 October 2020: Octopus Renewables Infrastructure Trust is buying four solar PV sites in Andalucia, which are expected to be ready to build by January 2023. The assets will have a total installed capacity of 175MWp and are expected to become operational in early 2024. The company is not taking any development risk […]
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24 Aug 2020 7 min read
Witan Pacific releases circular ahead of proposed change of name to Baillie Gifford China Growth Trust
On 22 July 2020, the board of Witan Pacific (WPC) announced it was to appoint Baillie Gifford as the company’s investment manager, subject to shareholder approval. WPC is proposing that subject to shareholder approval, its investment objective is changed to produce long term capital growth by investing predominantly in shares of, or depositary receipts representing the […]
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24 Jul 2020 2 min read
QuotedData’s weekly news show 24 July 2020
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: M&G’s approach to UK Mortgages – which could results in a takeover; Baillie Gifford’s new China trust – rising from the ashes of Witan Pacific; […]
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3 min read
Focus on China
The big news this week has to be the move of Witan Pacific to Baillie Gifford, where it will become a fund focused on China. Anyone who doesn’t want to come along for the ride will have the option of a cash exit at 1% discount to NAV (capped at 40% of the trust). Witan […]
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22 Jul 2020 3 min read
Witan Pacific appoints Baillie Gifford and proposes shift to China focus
Witan Pacific (WPC) has a entered into an investment management agreement to appoint Baillie Gifford as its new manager. New China-focused investment policy proposed WPC is proposing that subject to shareholder approval, its investment objective is changed to produce long term capital growth by investing predominantly in shares of, or depositary receipts representing the shares of, […]
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07 May 2020 4 min read
Is your manager down in the dumps?
Boards faced with underperforming managers have a tricky balancing act to perform. Investors may have bought the trust because they like the manager and the investment style that comes with them. They might be prepared to look past short-term performance problems and might not take kindly to their favoured manager getting fired. Or a board […]
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3 min read
Witan Pacific underperforms again
Witan Pacific underperforms again – Over the year ended 31 January 2020, Witan Pacific returned 5.2% in NAV terms, 3.5% less than the return on its benchmark (the MSCI Asia Pacific Free Index). Fortunately for shareholders, a narrowing of the discount left them with returns of 12.3%. The dividend was increased from 7p to 7.15p. […]
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03 Oct 2019 1 min read
QuotedData’s other news 3 October 2019
In QuotedData’s other news 3 October 2019 3i Infrastructure will issue up to 81m new shares through a placing. The price will be determined through a book build – where investors say what price they are prepared to pay and the deal is done at the highest price that allows the fund to issue all the […]
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26 Apr 2019 3 min read
Witan Pacific announces third consecutive year of underperformance
Witan Pacific announces third consecutive year of underperformance – For the year ended 31 January 2019, Witan Pacific has announced that its net asset value total return was -7.4% and the share price total return was -10.3%. These compare to a benchmark return of -5.4%. The chairman says that three of the company’s four underlying […]
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11 Feb 2019 2 min read
Witan Pacific goes all or bust
Witan Pacific (WPC) has provided a corporate update in which it says that its board is concerned that WPC has experienced some underperformance relative to its benchmark in recent years. The Board says that it believes that the Company must justify its actively managed investment approach. Therefore, it has resolved that, if the Company does […]
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29 Aug 2017 3 min read
Witan Pacific diversifies manager line up
Witan Pacific diversifies manager line up – The Board of Witan Pacific Investment Trust has announced changes it intends to make to the line-up of external delegated investment managers within its multi-manager structure. The initial structure will be approximately: Aberdeen Standard Investments 25% (previously 42%) Dalton Investments LLP 10% (new) Matthews International Capital Mgt. 40% (previously […]
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27 Apr 2017 1 min read
Witan Pacific held back by Matthews and Gavekal portfolios
Over the year to the end of January 2017, Witan Pacific reports that its NAV total return was approximately 30.7%, and its share price total return was 26.1% – these compare to a 35.3% return for the MSCI AC Asia Pacific Index. A significant part of that return was determined by the weakness of sterling. The Japanese […]
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29 Sep 2016 4 min read
Witan Pacific benefits from sterling weakness and Asian market performance
Witan Pacific has announced its interim results for the six months ended 31 July 2016. During the period, the trust provided an NAV total return of 22.8% and a share price total return of 19.5% (the discount widened from 10.9% to 13.4% during the period although the trust’s chairman, Sarah Bates, says that there was […]
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25 Apr 2016 2 min read
Witan Pacific beats benchmark despite significant underperformance in Aberdeen portfolio
Witan Pacific’s results for the year ended 31 January 2016 show it managing to outperform its benchmark, the MSCI All Country Asia Pacific Index, by a little – the NAV return for the fund was -5.6% against -5.9% for the index. Shareholders did better than this though with a return of -3.5% as the discount narrowed […]
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23 Apr 2015 2 min read
Witan Pacific beats benchmark as two in three managers perform well
Witan Pacific’s net asset value total return was 17.6% over the year to the end of January 2015, just ahead of the 17.1% return on the benchmark (MSCI All Country Asia Pacific Free Index). The share price return was 16.6% as the discount widened from 11.7% to 12.7%. The dividend was increased from 4.45p to […]
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30 Apr 2014 1 min read
Witan Pacific : WPC – final results
Witan Pacific has published its results for the year ended 31 January 2014. The net asset value total return for the year was a fall of 6.5% – this compares to a positive 0.2% return from the company’s benchmark. The discount narrowed a little and so the return to shareholders was -5.2%. Gillian Nott, the […]
Upcoming Events
In The Press
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18 Jan 2021 2 min read
Big investment trust themes to watch in 2021
Big investment trust themes to watch in 2021 by Faith Glasgow from interactive investor | 11th January 2021 12:22 We highlight the trends and themes for investment trust fans to keep an eye on over the next year… Board activity One of the most significant themes of 2020 has been the run of manager changes, closures and consolidations in the […]
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27 Nov 2020 2 min read
AIC consults on creating China and India sectors
AIC consults on creating China and India sectors Countries under-represented in investment company universe David Brenchley, Investment Week, 27 November 2020 The trade body said it was currently consulting with the relevant members and their managers on whether China and India-focused investment trusts should leave the Country Specialist: Asia Pacific ex Japan sector to form […]
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03 Nov 2020 2 min read
Investment trust insider on Baillie Gifford China Growth
Investment trust insider on Baillie Gifford China Growth – James Carthew: Underweight China? Here’s a close look at Baillie Gifford’s new trust Baillie Gifford is in the driving seat at what was Witan Pacific and is now Baillie Gifford China Growth Trust (BGCG). Regular readers will be aware that I think China is going to form […]
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23 Jul 2020 2 min read
Analysts back move to China mandate
Industry reaction: Baillie Gifford move could give Witan Pacific a ‘new lease of life’ Analysts back move to China mandate David Brenchley Investment Week 23 July 2020 Investment company analysts have backed plans for Baillie Gifford to transition Witan Pacific from a region generalist to a China specific vehicle. Witan Pacific’s board told investors on […]
