Baillie Gifford China Growth Trust (BGCG) has announced the introduction of a performance related tender offer following an internal review. In the event that the company’s net asset value total return does not exceed the benchmark total return (MSCI China All Shares index in sterling terms) over the period beginning from the NAV announcement in relation to 29 November 2024 to the NAV announcement in relation to 30 November 2028, then the conditional tender offer will be held as soon as practicable thereafter.

The board believes that a tender offer in December 2028 will allow the company and Baillie Gifford & Co, its manager, appropriate time to outperform against its benchmark and in the event it does not, to offer shareholders a liquidity event. The tender offer, if implemented, will be for 100% of the issued share capital of the company.

BGCG : Baillie Gifford China introduces performance-triggered tender