Pacific prospects looking up

The prospects for China and Hong Kong are looking up, according to Gerald Smith, head of Asia-Pacific equities at Baillie Gifford and manager of the £125m Pacific unit trust and the £41m Pacific Horizon investment trust. That is just as well, considering some three-fifths of the latter's portfolio is invested in the region. He said: "We deliberately try to keep a mainstream, core-markets approach within the fund which means we've tended to have a lot of money in Hong Kong. "Now we are finding it more difficult to distinguish between Hong Kong and China but that area tends to be where you ...