亚洲人成网站18禁止中文字幕,国产毛片视频在线看,韩国18禁无码免费网站,国产一级无码视频,偷拍精品视频一区二区三区,国产亚洲成年网址在线观看,国产一区av在线

 

Selling Google, buying Baidu helps fund beat competitors

0 CommentsPrint E-mail China Daily, March 5, 2010
Adjust font size:

'Special' China

The switch to Baidu from Google meant each company accounted for 2.7 percent of Scottish Mortgage's assets as of Jan 31, putting the Internet search companies among the fund's 10 largest holdings.

"We find many, many more individual Chinese companies that are great secular growth companies similar to what you saw in America," Anderson said. "China is a special category beyond all others."

Scottish Mortgage, Baillie Gifford's first client, was founded in 1909 to invest in rubber estates in Malaysia and Sri Lanka to benefit from demand for automobile tires.

Baillie Gifford's main clients are US retirement funds including the California Public Employees' Retirement System, the largest US public pension fund, as well as money managers such as Vanguard Group.

Investments in what Anderson calls "rising powers", along with lessening dependence on the UK and avoidance of most financial stocks, helped boost returns.

Best return

Scottish Mortgage is a general growth fund, which targets stocks and bonds that gain in price more than average. It advanced 90 percent over the year to March 1, compared with an average return of 50 percent for 30 similar funds, according to data from Chicago-based research firm Morningstar Inc.

Anderson has run the fund since 2000. His second-biggest Chinese holding, after Baidu, is in Beijing-based New Oriental Education & Technology Group Inc, the largest private education company in the country.

Other investments include Ctrip.com International Ltd, China's biggest online-ticketing company, Belle International Holdings Ltd, the largest retailer of women's shoes, and Tencent Holdings Ltd, China's biggest Internet company.

Brazil accounts for three of Scottish Mortgage's largest investments, with index-linked government bonds due 2045 and Vale SA, the world's largest iron ore producer, alongside Petrobras. Earnings from Brazil also are the reason behind his stake in Banco Santander SA, Spain's largest bank.

"The Western financial system and the Western housing markets were unsustainable," he said. "We have known that for 15 years. It was implausible that we could have continued. You need to split off casino banking from utility banking." Scottish Mortgage had avoided large holdings in financial stocks "for some time", although it made a mistake in owning shares of UBS AG, the largest Swiss bank by assets, said Anderson. UBS is down 17 percent over the past six months.

This year, Anderson bought or added to stakes including San Jose-based Cisco Systems Inc, the world's largest maker of networking equipment, Intuitive Surgical Inc, maker of robotic surgical systems, Polish copper miner KGHM Polska Miedz SA and Poland's former phone monopoly, Telekomunikacja Polska SA.

 

   Previous   1   2  


Print E-mail Bookmark and Share

Go to Forum >>0 Comments

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
    1. <ul id="556nl"><kbd id="556nl"><form id="556nl"></form></kbd></ul>
      <thead id="556nl"></thead>

      1. <em id="556nl"><tt id="556nl"></tt></em>
        <ul id="556nl"><kbd id="556nl"><form id="556nl"></form></kbd></ul>

        <ul id="556nl"><small id="556nl"></small></ul>
        1. <thead id="556nl"></thead>

          亚洲人成网站18禁止中文字幕,国产毛片视频在线看,韩国18禁无码免费网站,国产一级无码视频,偷拍精品视频一区二区三区,国产亚洲成年网址在线观看,国产一区av在线 人妻无码久久影视 日韩久久久久久久久久久久 精品国产香蕉伊思人在线 无码国产手机在线a√片无灬 91在线视频无码