独家专访！全球超长线成长股捕手Baillie Gifford，最新发声

Core Viewpoint - Baillie Gifford is committed to long-term investment in China, focusing on discovering high-quality growth companies and enhancing collaboration with diverse clients [1][8][9] Group 1: Investment Strategy and Market Insights - The firm has been investing in China since 1999, utilizing a dual research mechanism between its Shanghai and Edinburgh offices to maintain a global perspective while being locally informed [1][10] - Lorna Kennedy emphasizes that 2023 is the busiest year post-pandemic, with over 10 investment professionals visiting China, indicating a strong commitment to understanding local market dynamics [1][10] - The firm aims to expand its business scale and client diversity while continuously identifying quality growth companies in China [8][9] Group 2: Understanding Chinese Investors - Chinese investors exhibit different risk preferences when selecting overseas investment managers, often starting with fixed-income products before gradually moving to multi-asset allocations [6][7] - There is a need to educate local investors about the growth potential of global equities, as many are initially hesitant due to unfamiliarity with foreign companies [6][7] Group 3: Innovation and Competitive Edge - Baillie Gifford maintains an open mindset towards innovation, recognizing that China is achieving significant advancements in various fields, often at lower costs compared to Western counterparts [10][12] - The firm has a dedicated team in Shanghai that identifies emerging investment opportunities, such as Horizon Robotics, which may be overlooked by other global managers [10][12] Group 4: Long-term Investment Philosophy - The company focuses on understanding the business logic of companies rather than becoming domain experts in specific fields, allowing for a broader investment approach [12][13] - Baillie Gifford prioritizes long-term growth engines, including internet platforms, power batteries, AI chips, and autonomous driving, highlighting the global competitiveness of Chinese companies [13][19] Group 5: Role of AI in Investment - While AI can enhance research efficiency, it cannot replace human optimism and imagination regarding future growth potential [2][19] - The firm believes that long-term investment decisions should be based on fundamental analysis and industry trends, which AI cannot fully quantify [19][20]