Scottish Mortgage is co-managed by Baillie Gifford's James Anderson and Tom Slater, with its returns far outpacing the MSCI World Index thanks to successful investment in tech stocks such as Tesla, Amazon, Facebook, Alibaba and Tencent. But its heavy involvement in China became a subject of potential concern earlier this year amid a crackdown by Beijing on tech companies. Alibaba founder Jack Ma disappeared from the public eye for months after falling out with financial regulators, while Tencent and other gaming companies were previously blocked from releasing new titles for nine months. But Anderson – who is due to retire next year – has played down any concerns and warned shareholders it would be 'dangerous' to react quickly to news headlines.