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How to avoid Chinese burn as Beijing cracks down on tech firms
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How to avoid Chinese burn as Beijing cracks down on tech firms
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Baillie Gifford funds swept up in China tech sell-off
Scottish Mortgage, which holds around one fifth in Chinese stocks, fell 4% on Tuesday, while Baillie Gifford China Growth dived 6%
Baillie Gifford’s big bets on China have come back to bite the Edinburgh manager as the government’s latest crackdown on the education sector has prompted investors to flee.
Over the weekend Beijing introduced sweeping rule changes to China’s $100bn private tutoring industry, barring businesses from turning a profit, listing on stock exchanges worldwide and accepting foreign investment.
The announcement wiped billions off the market value of New York-listed Chinese education companies New Oriental Education and TAL Education and stoked fears of further regulatory intervention.
Baillie Gifford China Growth targets ‘exciting’ pipeline of private companies
‘If you’re not looking for growth companies in China, you’re missing the point,’ says Sophie Earnshaw
Baillie Gifford China Growth trust manager Sophie Earnshaw is eyeing an “exciting” pipeline of private companies in China, while also playing up themes like the Gen Z consumer and healthcare innovation.
Since Earnshaw (pictured) and co-manager Roderick Snell took over the trust from Witan last September, it has undergone a radical transformation.
In addition to focusing solely on China as opposed to the broader Asia Pacific region, the trust invests in a slimmer number of 40-80 holdings, representing companies the managers believe will deliver “outstanding growth” in the next five to 10 years.
Investments trusts have been the key to success for those with seven-figure savings pots
10 March 2021 • 5:00am
Trainee pilot Anirban Das started investing at 18 and says he will do what he can to reach £1m
Credit: Andrew Fox
Becoming an Isa millionaire has never been easy. It has been even harder for today’s young generation of investors, who have the odds stacked against them as housing costs rise and wages stagnate, leaving little in reserve for investments.
However, the generation, often derided for overspending on coffee and avocados, is ambitious, disciplined and in it for the long run.
William Brown, 27, from London, has already set aside £110,000 in a stocks and shares Isa and £40,000 in a Lifetime Isa. He is confident he will be able to hit the seven-figure mark unless he uses the savings as a deposit on a house.
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