Baillie Gifford makes changes to Asia team

UK asset manager Baillie Gifford is forming a new China team as part of a shake-up of its Asia portfolio. The new 10-strong team will be dedicated to Chinese equities but based in Edinburgh. It will be led by Linda Lin who is returning to Edinburgh after heading up the firm’s Shanghai office. There have also been some changes to the management of the firm’s various Asia funds. Lin and colleague Sophie Earnshaw will co-manage the Baillie Gifford China Growth Trust and the Baillie Gifford China Fund, both previously managed from within the emerging markets team. Meanwhile, Mike Gush and Roddy Snell will relinquish their roles on the China specific funds to focus on Asia Pacific and emerging market strategies. "Having a single dedicated team will help align motivation, incentives and accountability, while strengthening the ties between Shanghai and Edinburgh, to leverage ‘global and local' perspectives," stated Baillie Gifford. The firm remains bullish on Chinese equities despite the sector’s challenges in 2023 and the fact they were the worst performing funds in the UK in that time, according to data from Morningstar Direct. “Purely focussing on China’s risks could find investors missing out on growth opportunities,” said James Budden, director of marketing and distribution at the firm. “The Chinese government is back to supporting private enterprise in a bid to achieve promised prosperity. Despite geopolitical tensions China is the home of world beating growth companies pioneering many disruptive trends of the future.” ©2024 funds global asia

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