Baillie Gifford's James Anderson, co-manager of the £3.2bn Scottish Mortgage trust with Tom Slater, said investors continue to worry about China's slowing growth figures, while he is focused instead on prospects for the country's 'big three' players.
Speaking at a forum in London, Anderson said the consensus view is to avoid China, following last year's Black Monday sell-off and subsequent volatility for the country's stockmarkets. However, the trust is backing a trio of Chinese tech giants which he believes are driving change in the country. Baidu, Tencent and Alibaba, which he calls "the big three", make up 6.2%, 4.4% and 4.1% of his portfolio respectively. He said: "I cannot predict how bad Chinese GDP will be, nor could I tell you what the exchange rate will be, but we absolutely believe in the power of these companies. ...
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