Baillie Gifford China Gr... Share Discussion Threads

[ali47fish] 06/11/2020 18:58

the managers here are very experienced in the sector and manage a sister oiec fund- it is frustrating for me to have invested at a prtemium and can't add as it goes up-i want to ask if the premium matters if the performance is so stellar? please comment if you have knowledge of this matter!

[uapatel] 05/11/2020 16:01

Noticed you had started a position there.

I did look at it earlier for my ISA, has some good companies in its holdings. (Standout to me was SpaceX for something different), but i already hold Edinburgh Worldwide (ISA) plus Scottish Mortgage (SIPP), so bit over doing that position.

Another up day for BGCG. Truly amazing performance at the moment.

[vacendak] 05/11/2020 15:24

I have now taken a small position in USA another BG trust (BG US Growth).

More or less the same sugar rush behaviour as BGCG at the moment, only mildly tamer, as the trust already has a couple of years of existence.

[vacendak] 04/11/2020 13:08

Oh, yes I forgot that technically the Ant Financial IPO is a bust (temporatily at least) as it has been at the very least delayed. Alibaba dropped in response of course... yet BGCG is safely up as if nothing had happened. The NAV only dropped 2p yesterday according to the latest RNS.

So the interest must lie beyond the Alibaba/Ant story.

[Edit]
And a 14.8% premium for yesterday's close. Totally mad...

[uapatel] 04/11/2020 12:49

Good find that. Thanks

[vacendak] 04/11/2020 12:41

Some more comments on what is in the portfolio.

[uapatel] 04/11/2020 11:51

@vacendak, lol

[uapatel] 04/11/2020 11:29

Trimmed my holding here, because of the large premium and added to my BG Pacific Fund instead.

Clearly buyers are confident of what BG can do in terms of stock selection & performance. Will add back when things settle down a bit. (If, of course that happens, lol)

[nimbo1] 04/11/2020 10:41

who is chasing it up here - its a bubble this trust along with PHI too. Decent performance does not deserve double digit premium to NAV - the only certainty is in the future at some point you'll be able to buy it at or below nav. can only imagine its the wealth managers...

[uapatel] 03/11/2020 13:38

Might be a bit of hiccup with the Ant Financial IPO by Chinese Authorities. Though doesn’t seem to be stalling the Trusts share price at the moment.

[vacendak] 03/11/2020 12:01

+34 or +7.2% at noon.

Either a lot of people know more than we do about what BGCG holds or they are all barmy.

If this were a single share, as in a company after a good quarter, I would understand; but this is an Investment Trust, that holds a lot of companies. Even assuming it held a bit of an early days Amazon or Google, it would still only be a bit.

Oh well, works for me...

Forgot about this:

[uapatel] 02/11/2020 17:51

Hard to fathom what’s driving demand, except people wanting in on China Growth when other markets are to some extent impacted by Covid. But then I’m just guessing.

Happy just holding. Won’t add till the full list of holdings is published, then take a view. Meanwhile just enjoy the ride up. Crazy though it is.

[vacendak] 02/11/2020 17:02

And +4.5% today, this sh*t is Bitcoin in December 2018. :)
Another 200K share drop, which is more or less the daily average nowadays.

[uapatel] 02/11/2020 12:21

According to Bloomberg ANT is trading at 50% premium in the Grey market. Believe that Alibaba own 30% of ANT as well.

[vacendak] 31/10/2020 16:11

The NAV has jumped up by more than 7p on Thursday, another good week.

It is possible that the recently raised cash could have gone towards the Ant Financial IPO; we shall see at the next update. Ant Financial would tick the boxes to be a holding in BGCG.

[uapatel] 30/10/2020 09:18

Ant Financial IPO on Nov 5. The Small investor demand for the shares is off the charts. Understand it’s well over 850 times oversubscribed!!

Going to be interesting fireworks day

[vacendak] 29/10/2020 17:06

Back in form after a few days of taking a breather.
Ending the day at +8 (1.8%) after having been at +11.5 just before close.

Another share dump today. A quick back of the envelope calculation now gives 27.0% of the share total are still in treasury (total = treasury + shares in people's hands).

The first release from treasury was October 9th, back then 33.8% of the shares were held in treasury. These were from the years of buy-backs as WPC and the big chunk from the cash exit at the switch to BG.

So they have managed to offload about 7% of the total amount of shares at a premium in less than a month!
Pretty impressive I would say.

[vacendak] 23/10/2020 16:39

Good Lord in Heaven...BGCG has dropped by 0.2% today!

Sack the managers I say! :)

More seriously the NAV has been stalling this week; the weekly average is just below 421p and it is where the NAV has been hovering around. I guess the daily unloading of treasury shares (another 220K today)finally has had an effect.

It was still at a healthy 5.7% premium yesterday.

[uapatel] 23/10/2020 13:49

Signed up for the China Growth Trust Webinar on Wednesday 28th @ Noon.

[vacendak] 22/10/2020 16:29

Unsurprisingly BGCG is the most expensive as far as Z-scores go... if one gives any hoot about a Z-score of course.

Considering WPC was at a nasty discount for years, this does not mean much as most of the history for the Z-score calculation is WPC and not BGCG.

[vacendak] 22/10/2020 15:43

The URL says it all.

[quepassa] 21/10/2020 08:57

oh no.....

[ali47fish] 20/10/2020 17:06

vacendak-what is your conclusion good or bad~?