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Trending ETFs

Name

As of 06/11/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$4.85

$2.05 M

1.52%

$0.07

11.17%

Vitals

YTD Return

2.1%

1 yr return

-8.3%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$2.05 M

Holdings in Top 10

45.0%

52 WEEK LOW AND HIGH

$4.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 11.17%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$10,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/11/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$4.85

$2.05 M

1.52%

$0.07

11.17%

BGCDX - Profile

Distributions

  • YTD Total Return 2.1%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.56%
DIVIDENDS
  • Dividend Yield 1.5%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Baillie Gifford China Equities Fund
  • Fund Family Name
    Baillie Gifford Funds
  • Inception Date
    Jul 07, 2021
  • Shares Outstanding
    105353
  • Share Class
    K
  • Currency
    USD
  • Domiciled Country
    GB
  • Manager
    Roderick Snell

Fund Description

The Fund seeks to meet its objective by investing in a portfolio of common stocks and other equity securities of companies located in the People's Republic of China ("China").

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stocks and other equity securities of companies located in China, regardless of where their securities are principally listed for trading. The Fund invests in equity securities either directly or indirectly, such as through depositary receipts or participatory notes and may invest in preferred stocks, convertible securities and warrants. The Fund may invest in any sector or industry, in issuers of any market capitalization, and may participate in initial public offerings ("IPOs") and in securities offerings that are not registered in the U.S.

The Fund's investments can include securities of companies listed on exchanges located in and outside of China and include China "A" shares ("A Shares" or "China A Shares"), which are common stocks and other equity securities that are listed or traded on a Chinese stock exchange, and which are quoted in renminbi, the official currency of China. The Fund expects to directly access China A Shares through the Shanghai-Hong Kong Stock Connect program and the Shenzhen-Hong Kong Stock Connect program (together the "Stock Connect programs"). The Fund also expects to directly access securities of companies through the qualified foreign investor program ("QFI," formerly the Qualified Foreign Institutional Investor and Renminbi Qualified Foreign Institutional Investor programs) and may, in the future, directly access securities of companies through other means which become available. In addition, the Fund may invest in equity securities indirectly, such as through depositary receipts, participatory notes, or exchange traded funds ("ETFs"), especially during extended closures of the Chinese markets.

The portfolio managers employ a bottom-up approach to stock selection and principally select companies without being constrained by the Fund's benchmark, the MSCI China All Shares Index. The portfolio managers focus on company research and the long-term outlook of companies and industries. Ideas can come from a wide variety of sources, including, but not

limited to, research trips, company meetings, and relationships with industry thought leaders and academic institutions. Stock ideas are normally researched to assess a range of factors, including: long-term growth potential, geographic and industry positioning, competitive advantage, management, financial strength, and valuation. The portfolio managers employ an additional due diligence process for Chinese companies in light of the comparative immaturity of the Chinese capital markets and the status of China as an emerging market economy.

The portfolio managers seek to identify exceptional growth companies in China across a broad range of sectors with the potential to achieve the Fund's investment objective. The intended outcome is a portfolio of between 40 and 80 growth stocks with the potential to outperform the Fund's benchmark over the long term. The Fund intends to operate as a non-diversified fund, which means that it may invest a relatively large percentage of its assets in a small number of issuers, industries, or sectors. The Fund aims to hold securities for long periods (typically at least 5 years), which generally results in relatively low portfolio turnover and is in line with the portfolio managers' long-term investment outlook. Consistent with this investment outlook, the portfolio managers seek to identify companies with the potential to sustain financial growth over the long term. When assessing a company's long-term growth prospects, the portfolio managers seek to identify and to incorporate a range of factors that are material to managing the Fund's investment risks and maximizing capital appreciation. Such factors potentially include the environmental, social, and/or governance characteristics of the company, such as stewardship, sustainable business practices, and/or corporate culture. It is expected that the Fund will hold large positions, over 5%, in a small number of companies consistent with the Fund operating as a non-diversified fund.

The Fund may invest without limitation in securities quoted or denominated in currencies other than the U.S. dollar and may hold such currencies. The Fund does not expect to engage in currency hedging and thus expects to be fully exposed to currency fluctuations relative to the U.S. dollar.

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BGCDX - Performance

Return Ranking - Trailing

Period BGCDX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -18.8% 15.3% 56.12%
1 Yr -8.3% -23.7% 21.5% 45.92%
3 Yr N/A* -28.5% 4.4% N/A
5 Yr N/A* -14.1% 17.1% N/A
10 Yr N/A* -4.9% 9.5% N/A

* Annualized

Return Ranking - Calendar

Period BGCDX Return Category Return Low Category Return High Rank in Category (%)
2023 -19.4% -26.6% 26.3% 65.31%
2022 -28.8% -41.6% -9.4% 59.34%
2021 N/A -52.5% 26.5% N/A
2020 N/A 1.3% 138.5% N/A
2019 N/A -1.9% 42.6% N/A

Total Return Ranking - Trailing

Period BGCDX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -18.8% 15.3% 56.12%
1 Yr -8.3% -23.7% 21.5% 45.92%
3 Yr N/A* -28.5% 4.4% N/A
5 Yr N/A* -14.1% 17.1% N/A
10 Yr N/A* -4.9% 9.5% N/A

* Annualized

Total Return Ranking - Calendar

Period BGCDX Return Category Return Low Category Return High Rank in Category (%)
2023 -18.1% -25.7% 30.1% 61.22%
2022 -28.4% -40.4% -6.8% 64.84%
2021 N/A -48.9% 29.5% N/A
2020 N/A 2.0% 138.5% N/A
2019 N/A 7.8% 44.4% N/A

NAV & Total Return History


BGCDX - Holdings

Concentration Analysis

BGCDX Category Low Category High BGCDX % Rank
Net Assets 2.05 M 928 K 5.43 B 95.92%
Number of Holdings 56 27 1181 56.12%
Net Assets in Top 10 914 K 508 K 3.37 B 95.92%
Weighting of Top 10 44.97% 5.0% 81.8% 54.08%

Top 10 Holdings

  1. Tencent Holdings Ltd 9.97%
  2. Kweichow Moutai Co Ltd 5.80%
  3. Alibaba Group Holding Ltd 5.25%
  4. Meituan 5.04%
  5. PDD Holdings Inc 4.21%
  6. NetEase Inc 3.16%
  7. China Merchants Bank Co Ltd 3.12%
  8. Contemporary Amperex Technology Co Ltd 3.09%
  9. Midea Group Co Ltd 2.73%
  10. Ping An Insurance Group Co of China Ltd 2.61%

Asset Allocation

Weighting Return Low Return High BGCDX % Rank
Stocks
97.26% 51.72% 100.39% 71.43%
Cash
2.74% 0.00% 26.31% 32.65%
Preferred Stocks
0.00% 0.00% 2.81% 90.82%
Other
0.00% -0.02% 47.32% 78.57%
Convertible Bonds
0.00% 0.00% 0.15% 90.43%
Bonds
0.00% 0.00% 0.00% 86.73%

Stock Sector Breakdown

Weighting Return Low Return High BGCDX % Rank
Consumer Cyclical
30.34% 0.00% 95.37% 13.83%
Communication Services
14.84% 0.00% 41.06% 30.85%
Industrials
12.92% 0.00% 36.69% 42.55%
Healthcare
12.36% 0.00% 100.00% 15.96%
Financial Services
11.10% 0.00% 41.62% 69.15%
Technology
8.50% 0.00% 58.02% 60.64%
Consumer Defense
6.19% 0.00% 20.13% 60.64%
Basic Materials
2.11% 0.00% 19.86% 68.09%
Utilities
1.32% 0.00% 11.37% 35.11%
Real Estate
0.31% 0.00% 22.12% 77.66%
Energy
0.00% 0.00% 19.38% 94.68%

Stock Geographic Breakdown

Weighting Return Low Return High BGCDX % Rank
Non US
91.74% 0.00% 100.18% 45.92%
US
5.51% 0.00% 99.99% 50.00%

BGCDX - Expenses

Operational Fees

BGCDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 11.17% 0.09% 14.63% 4.08%
Management Fee 0.72% 0.09% 1.50% 26.53%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.17% 0.06% 0.25% 77.27%

Sales Fees

BGCDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

BGCDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BGCDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 4.00% 241.00% N/A

BGCDX - Distributions

Dividend Yield Analysis

BGCDX Category Low Category High BGCDX % Rank
Dividend Yield 1.52% 0.00% 8.89% 38.78%

Dividend Distribution Analysis

BGCDX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Annual

Net Income Ratio Analysis

BGCDX Category Low Category High BGCDX % Rank
Net Income Ratio -0.56% -1.76% 3.66% 77.66%

Capital Gain Distribution Analysis

BGCDX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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BGCDX - Fund Manager Analysis

Managers

Roderick Snell


Start Date

Tenure

Tenure Rank

Jul 07, 2021

0.9

0.9%

Roddy graduated BSc First Class Honours in Medical Biology from the University of Edinburgh in 2006. He joined Baillie Gifford in the same year and worked in the UK and European Equity Teams before joining the Emerging Markets Equity Team where he is an Investment Manager. Roddy has managed the Baillie Gifford Pacific Fund since 2010.

Mike Gush


Start Date

Tenure

Tenure Rank

Jul 07, 2021

0.9

0.9%

Mike graduated MEng in Mechanical Engineering from Durham University in 2003. He joined Baillie Gifford in the same year and worked in the UK and Japanese Equity Teams before moving to the Emerging Markets Equity Team in 2005, where he is an Investment Manager. Mike is CFA Charter holder.

Sophie Earnshaw


Start Date

Tenure

Tenure Rank

Jul 07, 2021

0.9

0.9%

Sophie Earnshaw, CFA, Portfolio Manager, joined Baillie Gifford Overseas Limited in 2010 and is an Investment Manager in the Emerging Markets Equity Team. Ms. Earnshaw joined the International Focus Portfolio Construction Group in 2014. Sophie graduated MA in English Literature from the University of Edinburgh in 2008 and an MPhil in Eighteenth Century and Romantic Literature from Cambridge University in 2009.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 24.1 3.69 3.22