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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Baillie Gifford China Growth Trust Plc | BGCG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -1.00 | -0.44% | 225.00 | 16:35:05 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 226.00 | 224.00 | 226.00 | 225.00 | 226.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 17/11/2024 12:59 by ali47fish has anyone seen the tender offer published recently- does anyon know how this works and is it worth to participate?Baillie Gifford China Growth Trust PLC (BGCG) Legal Entity Identifier 213800KOK5G3XYI7ZX18 Conditional Tender Offer of up to 100% Introduced The Board of Baillie Gifford China Growth Trust plc (the "Company" or "BGCG") announces the introduction of a performance related tender offer (the "Conditional Tender Offer") following an internal review and after discussion with the Company's largest shareholders. In the event that the Company's net asset value total return does not exceed the benchmark total return (MSCI China All Shares index in sterling terms) over the period beginning from the NAV announcement in relation to 29 November 2024 to the NAV announcement in relation to 30 November 2028, then the Conditional Tender Offer will be held as soon as practicable thereafter. The Board believes that a Conditional Tender Offer in December 2028 will allow the Company and Baillie Gifford & Co, its Manager, appropriate time to outperform against its benchmark and in the event it does not, to offer shareholders a liquidity event. The Conditional Tender Offer, if implemented, will be for 100% of the issued share capital of the Company. The Conditional Tender Offer will be priced close to the prevailing net asset value at the time of repurchase (adjusted for the costs associated with the tender offer). The Board has an active liquidity management policy, the primary purpose of which is to reduce discount volatility. Buying shares at a discount also results in an enhancement to the NAV per share. The introduction of the Conditional Tender Offer will not change the Board's current approach to discount management. Chair Nick Pink said "The Board believes the introduction of the Conditional Tender Offer is to the benefit of all shareholders. Over 4 years shareholders will receive either outperformance relative to the benchmark or an opportunity to redeem 100% of their holding at close to NAV/share. For investors in China equities, the Board believes the Company offers a differentiated growth strategy. The Board is committed to using all the benefits of the closed end company structure where they enhance shareholder value, measured using the Company's KPIs. The announcement of the Conditional Tender Offer therefore adds to the existing liquidity policy to buy-back shares, the use of prudent gearing, the ability to own private investments and competitive costs, principally via a tiered management fee. Together we believe these features distinguish BGCG from its peers". For further information please contact: William Simmonds, J.P. Morgan Cazenove Tel: 020 3493 8000 Naomi Cherry, Baillie Gifford & Co Tel: 0131 275 2000 |
Posted at 01/5/2024 17:17 by ali47fish and who is the buyer here today- these investors must know something |
Posted at 14/4/2024 12:31 by vacendak I have also watched the video, the one BG sent via email, with Sophie Earnshaw and Linda Lin talking to each other for a quarter of an hour and saying nothing.The Citywire article and its comments summarises the situation pretty well: BG has lost the plot and drinking its own Kool Aid. The "China will be big and open" mantra was all well and good when BGCG was all wild and at 20% premium, but it has been discredited from the moment the ChiCom began turning the screws.The BG problem is that they are doing even worse than their benchmark and their peers. Not that losing "only" 35% (since Witan Pacific became BGCG) as per Fidelity China Special Situation (the less bad of the China only lot) would have done anybody any good. |
Posted at 02/5/2022 17:37 by vacendak Hoping they are right. |
Posted at 18/9/2021 07:50 by jfinvestments I know China applied to the Pacific trade pact in order to boost their economy. Hang seng had a rebound too. However I presume the price was about it hitting a discount to nav and retail investors buying weren't able to buy much lower than 396p (although I only looked once).It is hard to say if this is the low point, I suspect not. Evergrande issues mean banks are tied up and retail investor panic might continue. Have a look at Ping an charts for 6 months, 12 and 5. It's showing an interesting downtrend since Jan. I think BGCG is about 10% invested in financial, but there is talk of this being a possible crash as a result of Evergrande and how CCP deal with it. Talk is of no bail out. All to be seen.Regular smaller investment through periods of downward volatility has proven a successful strategy for me. So I'm going to continue with that plan for this and FCSS. Even though it's hard to watch them drop from ath. |
Posted at 25/6/2021 11:57 by ali47fish back to premium nav and in no time to add- investment trusts are difficult to forecast from a retail investor perspective! frustrating! |
Posted at 19/3/2021 17:14 by vacendak The factsheet for February has been uploaded.This is the placeholder link from the website, so if you wait too long you will get the one for March. :) The BG websites are annoying, they do not have an archive for the factsheets. |
Posted at 20/11/2020 18:24 by ali47fish ivenever heard of an investment being shorted- dont knowhattomake of this- why doesnt the board take action to moderate the premium?Trust Watch: ‘Eye-watering& By Gavin Lumsden 20 Nov, 2020 at 17:52 Metage shorts China Growth This week in a break with tradition we start with the expensive table where there are several interesting stories. Baillie Gifford China Growth (BGCG) remains a stock to watch - if not to buy - with its shares reverting to a 34% premium over net asset value, double what it was last week, a level that Peel Hunt analysts called ‘eye-watering& Data from the Financial Conduct Authority shows that Metage Capital, the multi-asset investor that has backed the board of Gabelli Value Plus (GVP) in its attempt to wind up against the opposition of its largest shareholder, has taken a short position in BGCG shares, hoping to profit if the share price bubble bursts. According to the FCA, on 5 November Metage raised its bearish position in the trust from 0.8% to 1.15%. The bet against the share price has had little effect so far with the shares soaring to a 33% premium to NAV on 9 November. As I reported last week, this prompted analysts at JPMorgan Cazenove, the trust’s broker, to cut their recommendation from ‘overweight The spike in the share price comes as Baillie Gifford has promoted the trust’s relaunch to investors, including an online event this month with Citywire. Interestingly, the trust appears to have paused the issuance of new shares which might have fed investor demand and moderated the premium. It last issued shares a week ago despite having over 16m left in treasury to sell if it wished to. By yesterday the red-hot stock had posted a one week gain of 15% (see third side), although they have tumbled 7% today. |
Posted at 11/11/2020 19:48 by ali47fish could this be the causeodf the drop alsofrom guardian 11 nov 20 Shares in China’s technology industry have taken a tumble after Beijing’s market regulator took its first major step towards tackling the monopolistic power of its tech giants. The State Administration for Market Regulation’s new draft rules will, for the first time, define what constitutes anti-competitive behaviour – covering pricing, payment methods and the use of data to target shoppers. These anti-monopoly rules are designed to ensure fair competition in the web space and prevent internet platforms from dominating the market or using methods to block fair competition. The move seems certain to put e-commerce marketplaces and payment services under closer scrutiny … and investors have reacted by ditching tech shares sharply. The e-commerce giant Alibaba’s shares, for example, have slumped by 9% today, while its rival JD.com is down more than 8%. The news came as China’s web giants were gearing up for Singles Day, the annual online sale that is their biggest day of the year. Bloomberg has calculated that more than $200bn has been wiped off China’s tech giants in the last two days. It reports that the antitrust clampdown triggered a wave of selling (only a day after vaccine optimism triggered a rotation out of tech stocks). |
Posted at 22/9/2020 10:46 by u813061 Leading Edinburgh finance house Baillie Gifford has taken over the management of an investment trust which will now be renamed the Baillie Gifford China Growth Trust.The investment management partnership has taken over what was formerly known as The Witan Pacific Investment Trust. The trust's investment objective is to produce long-term capital growth by realigning the portfolio into a ‘best ideas’ strategy consisting of between 40 and 80 listed and unlisted Chinese stocks from across the market capitalisation spectrum. The trust's assets under management currently stand at £236m. It will be managed by Sophie Earnshaw and Roderick Snell, both members of Baillie Gifford’s emerging markets team, who bring significant investment expertise and experience in China. Earnshaw is currently co-manager of Baillie Gifford China Fund alongside Roderick, who also manages the Baillie Gifford Pacific Fund and is deputy on the Pacific Horizon Investment Trust. Baillie Gifford has a long and strong track record of investing in China. At the end of June 2020, the firm had over £44.6bn invested in both Chinese public and private companies through its global and regional funds and trusts, and now has a local presence through a research centre in Shanghai. Baillie Gifford China Fund, the firm’s open-ended Chinese equity strategy, has achieved top quartile performance over one, three, five and ten years. Differing from the open-ended strategy, the Baillie Gifford China Growth Trust plc will have the ability to access exceptional growth opportunities in private companies. RELATED ARTICLES Baillie Gifford to take over Witan Pacific Investment Trust from failing manager Baillie Gifford fund manager donates £2.5 million to help football clubs through Covid Baillie Gifford director of retail marketing James Budden said: “The Baillie Gifford China Growth Trust sits snugly within our retail offering alongside the successful open-ended Baillie Gifford China Fund. “We believe the realignment of the portfolio from Witan Pacific’s Pan Asia mandate to invest in our best Chinese growth ideas together with Baillie Gifford’s access to private companies should enhance the appeal of the trust and attract new investors over time. “As a firm we see China as a compelling opportunity and a region that increasingly cultivates great companies with incredible franchises domestically and internationally. “Our newest trust gives another option to those investors keen to allocate directly to Chinese equities.” |
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