Summary List Placement Western stock markets are trading around record highs, buoyed by news of potential COVID-19 vaccines, but these gains are dwarfed by the triumphs of the Chinese equities market and its sheer range of opportunities for return, according to Roderick Snell, manager of Baillie Gifford's China Fund. Snell's £519.45 million ($690.37 mln) China Fund had a total return of 220.21% over 5 years, compared with total returns of 128.89% from its benchmark MSCI Golden Dragon index in the same time period, according to Bloomberg LP data.