Baillie Gifford China Growth Trust (BGCG)

This investment trust aims to generate returns by investing in shares in Chinese companies.

This fund has changed its name - can you please update

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I changed the title…

Doesn’t seem to have affected the in app link (discourse remembers them) but @sampoullain the stock still needs updating

Is there a way in app we could flag bad stock information?

Baillie Gifford China Growth Trust aims to produce long term capital growth by investing predominantly in shares of, or depositary receipts representing the shares of, Chinese companies.

Sector: Country Specialist Asia Pacific - Ex. Japan

Top 10
1 Alibaba 13.1%
2 Tencent 10.4%
3 Meituan Dianping 4.3%
4 Ping An Insurance 4.3%
5 Kweichow Moutai 3.0%
6 JD.com 2.3%
7 China Merchants Bank 2.1%
8 Li Ning 1.8%
9 Ping An Bank 1.8%
10 CATL 1.8%

There seems to be a lot of thought that China will do really well. Large economy, seemingly largly unaffected by COVID, and not laden in as much debt as the west from the pandemic response.

Very high premium on this trust at the moment though

They are meeting today to approve the issue of new shares

Fixing it now, thanks.

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I joined a webinar hosted by the manager of this trust recently - very interesting. I like the fact that they can invest circa 10% in unlisted companies.

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Yeah the ability to invest into some unlisted companies makes it interesting.

Fyi they now have their full portfolio listing (wasn’t available when I’d previously looked)

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Thanks for this - Interesting that they’ve got 31.4% liquid assets, so a lot of firepower for the year ahead! And nice to see the spread companies, with only Alibaba over 5% and Tencent. CATL is one company they spoke a lot about on the call.

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What were there views on it out of curiosity?

Pretty positive overall - they are supplying battery components to Tesla as well as well as other electric car companies, and as we know globally the electric car industry is only going to grow as gov and private investment will ramp up across the board to meet EV targets. So the suppliers like this should be well positioned in the years ahead.

They’ve just announced a new plant in Indonesia https://jakartaglobe.id/news/ev-battery-giant-catl-to-invest-51b-for-a-factory-in-indonesia - which makes sense given a lot of the raw materials come from there.

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Ah that’s interesting. I was considering this one once the agree (or not) to issue new shares. I don’t hold any of it at the moment.

It looks like they voted to approve both resolutions to allot more shares and to (if I read it right) allot future shares without a vote until the next agm

Baillie Gifford China Growth Trust plc (the “Company”) is pleased to announce that at a general meeting of the Company held earlier today the resolutions to allot ordinary shares in the capital of the Company and to disapply the statutory pre-emption rights on the allotment or sale of treasury shares, as set out in the Circular dated 9 November 2020, were duly approved by shareholders.

Details of the proxy votes lodged before the general meeting, which should be read alongside the notice contained in the Circular will be available shortly at www.bailliegiffordchinagrowthtrust.com.

The Board notes the significant vote against Resolution 2. As explained fully in the Circular, Resolution 2 sought approval to renew the Company’s shareholder authority to issue further Ordinary Shares on a non pre-emptive basis prior to the Company’s next annual general meeting. The Directors will only use the authority to disapply pre-emption rights and issue Ordinary Shares at a premium to NAV. The Company will be contacting relevant shareholders to re-iterate the context in which the Resolution was proposed.

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So when do we think they will issue new shares? Anyone know how quick these things happen?

I’m not sure. Theres no specific date, and im not sure how long that kind of thing normally takes. I imagine well see an announcement of it before they issue them perhaps.

They did release 380k shares from their treasury today, but that’s not the same thing https://www.londonstockexchange.com/news-article/BGCG/issue-of-equity/14772729

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