Baillie Gifford China Growth Trust plc (BGCG) Ordinary 25p Shares

Baillie Gifford China Growth Trust plc is a United Kingdom-based investment trust. The Company’s investment objective is to produce long term capital growth by investing predominantly in shares of, or depositary receipts representing the shares of, Chinese companies. The Company invests in Chinese companies that are listed, quoted, or traded on any market, or unlisted. Its portfolio comprises between 40 and 80 listed and unlisted securities. The Company invests up to 20% of its assets in companies not listed on the public market. It invests up to 10%, in the aggregate, of gross asset value at the time of acquisition in other listed closed-ended investment funds. It has investments in various sectors, including consumer discretionary, communication services, industrials, information technology, healthcare, consumer staples, financials, materials, utilities, real estate and net liquid assets. Its alternative investment fund manager (AIFM) is Baillie Gifford & Co Limited.

The Trust aims to produce long term capital growth by investing in an actively managed portfolio of Chinese companies. Up to a maximum of 20% of assets may be invested in companies not listed on a public market (measured at time of purchase). We invest on a long-term (5 year) perspective, and have a strong preference for growth. We are looking for significant upside in each stock that we invest in. The process is driven by rigorous, fundamental, bottom-up analysis undertaken by our dedicated emerging markets team, with input from our China office. The fund managers draw on this analysis, as well as insights gleaned from discussion with all of Baillie Gifford’s global investors, to produce a portfolio that typically holds 40–80 stocks.

• Ongoing charge1.12%
• Annual management charge -
• Performance feeNo

The annual management fee of i 0.75 % of NAV on the first GBP 50m plus ii 0.65 % of NAV between GBP50m and GBP250m plus iii 0.55% of NAV in excess of GBP250m. This is calculated and payable on a quarterly basis. The Investment Management Agreement can be terminated on three months notice.