TRUSTWATCH Witan Pacific is shifting its focus to China and wants to appoint Baillie as sole manager
Trust aims to provide investors with long-term growth and an income
What is is?
Witan Pacific is the only UK investment trust with a focus across the entire Asia Pacific region, including Japan, China, Australia and India.
Founded in 1907, it aims to provide investors with long-term growth and an income.
Since 2005, the trust has picked several managers from different firms to invest its money.
But this is about to change, and it hopes to appoint Baillie Gifford as the sole manager in September.
Its focus would shift to China, and its name would change to the Baillie Gifford China Growth Trust.
What does it invest in?
The largest holdings include Samsung, Taiwan Semiconductor, internet giant Tencent and China International Travel Service.
What do the experts like?
John Moore, senior investment manager at Brewin Dolphin, says: ‘The board has been conscious about performance and set itself a bold target of outperformance or money back.’ He adds that Baillie Gifford has a strong record in China and has been at pains to highlight the opportunities there.
Any downsides?
Moore notes that the trust is relatively small. This could make it a riskier pick.