Overview
ISIN
GB00BMC7T380SEDOL
BMC7T38Investment proposition
Baillie Gifford European Growth Trust aims to achieve capital growth over the long term from a diversified portfolio of European securities.
Share price and charges
Price
106.50pNAV at fair
114.85pPremium (+) or discount (-) at fair
-7.3%Ongoing charges*
0.65%Fund facts
Active share
85%*
Fund launch date
1972
AIC Investment Sector
Europe ex UK
Benchmark
FTSE Europe ex UK Index
Past performance is not a guide to future returns.
*Relative to FTSE Europe ex UK Index. Source: Baillie Gifford & Co, FTSE.
Meet the managers
Meet the directors
Ratings
AGM, voting and registrar details
AGM
11am on 5 February 2025 at the offices of Baillie Gifford & Co, Calton Square, 1 Greenside Row, Edinburgh EH1 3AN.
Voting
Access information on our Corporate calendar, AGM voting and attendance.
Access information on votes cast by Baillie Gifford during the previous quarter on behalf of the investment trust in the Proxy voting disclosure.
Registrar
Computershare Investor Service PLC,
The Pavilions,
Bridgwater Road,
Bristol,
BS99 6ZZ.
Regulatory news announcements
Regulatory news announcements which are released to the London Stock Exchange can be accessed via their service.
The Association of Investment Companies
Further information on investment trusts and the investment trust sector can be found on The Association of Investment Companies website.
Risk Warnings
Risk Introduction
The investment trusts managed by Baillie Gifford & Co Limited are listed UK companies. The value of their shares, and any income from them, can fall as well as rise and investors may not get back the amount invested. The specific risks associated with the Trust include:
Currency
The Trust invests in overseas securities. Changes in the rates of exchange may also cause the value of your investment (and any income it may pay) to go down or up.
Private Companies
Unlisted investments such as private companies can increase risk. These assets may be more difficult to sell, so changes in their prices may be greater.
Gearing
The Trust can borrow money to make further investments (sometimes known as "gearing" or "leverage"). The risk is that when this money is repaid by the Trust, the value of the investments may not be enough to cover the borrowing and interest costs, and the Trust will make a loss. If the Trust's investments fall in value, any invested borrowings will increase the amount of this loss.
Liquidity
Market values for securities which have become difficult to trade may not be readily available and there can be no assurance that any value assigned to such securities will accurately reflect the price the Trust might receive upon their sale.
Concentration
The Trust's risk is increased as it holds fewer investments than a typical investment trust and the effect of this, together with its long term approach to investment, could result in large movements in the share price.
Derivatives
The Trust can make use of derivatives which may impact on its performance.
Premium Risk
Share prices may either be below (at a discount) or above (at a premium) the net asset value (NAV). The Company may issue new shares when the price is at a premium which may reduce the share price. Shares bought at a premium may have a greater risk of loss than those bought at a discount.
Buy-backs
The Trust can buy back its own shares. The risks from borrowing, referred to above, are increased when a trust buys back its own shares.
Income Secondary
The aim of the Trust is to achieve capital growth. You should not expect a significant, or steady, annual income from the Trust.
Regulation of Investment Trusts
The Trust is listed on the London Stock Exchange and is not authorised or regulated by the Financial Conduct Authority.
Index disclaimer
Important information
Baillie Gifford Overseas Limited (ARBN 118 567 178) is registered as a foreign company under the Corporations Act 2001 (Cth) and holds Foreign Australian Financial Services Licence No 528911. The information in this area is provided to you on the basis that you are a “wholesale client” within the meaning of section 761G of the Corporations Act 2001 (Cth) (“Corporations Act”). Please advise Baillie Gifford Overseas Limited immediately if you are not a wholesale client. In no circumstances should the information in this area be made available to “retail clients” as defined by the Corporations Act.
The information in this area contains general information only. It does not take into account any person’s objectives, financial situation or needs.
Fund performance
Periodic Performance
As at: 31 October 2025
1 Year | 3 Years | 5 Years | 10 Years | |
|---|---|---|---|---|
Share Price | 24.0% | 38.6% | -6.0% | 79.2% |
NAV | 13.9% | 29.8% | 0.6% | 81.2% |
Index* | 21.3% | 58.4% | 83.3% | 167.1% |
Discrete Performance
As at: 30 September 2025
30/09/2020 – 30/09/2021 | 30/09/2021 – 30/09/2022 | 30/09/2022 – 30/09/2023 | 30/09/2023 – 30/09/2024 | 30/09/2024 – 30/09/2025 | |
|---|---|---|---|---|---|
Share Price | 25.2% | -47.7% | 8.6% | 9.3% | 14.5% |
NAV | 23.9% | -40.4% | 8.3% | 12.1% | 5.2% |
Index* | 23.0% | -15.3% | 20.5% | 15.3% | 15.5% |
Performance
As at: 31 October 2025
Source: Morningstar, FTSE.
Performance figures appear in GBP. Please bear in mind that past performance is not a guide to future returns. The value of your investment may go down as well as up, and you may not get back the amount you invested.
Benchmark data is limited to a 5 year period from the current date.
The graph has been rebased to 100.
Discount/premium history at fair
As at: 31 October 2025
Source: Morningstar. Premium/Discount of share price to NAV at fair.
If the graph shows negative figures this means that the share price is lower than the NAV at fair – this is known as trading at a Discount.
If the graph shows positive figures this means that the share price is higher than the NAV at fair - this is known as trading at a Premium.
Active share
As at: 31 October 2025
Relative to FTSE All-Share Index, total return. Source: Baillie Gifford & Co, FTSE.
Fund portfolio holdings
The list of top 10 holdings that this fund invests in.
As at: 31 October 2025
| # | Holding | % of total assets |
|---|---|---|
| 1 | Bending Spoons | 8.8% |
| 2 | Prosus | 5.0% |
| 3 | ASML | 4.4% |
| 4 | Topicus.com | 4.0% |
| 5 | Adyen | 3.5% |
| 6 | Allegro.eu | 3.2% |
| 7 | Roche | 3.1% |
| 8 | Reply | 3.0% |
| 9 | Vend Marketplaces ASA | 3.0% |
| 10 | Sandoz Group AG | 2.9% |
Insights
Key articles, videos and podcasts relating to the fund:
Filters
Insights
Pushing rocks uphill: the case for European equities
Is this the turning point European investors have been waiting for?
Atlas Copco: Stock Story
Ben Drury explores how a culture of innovation and decentralisation drives success in industrial technology.
ASML: Stock Story
Paul Taylor explores the cutting-edge semiconductor technology advancing the digital revolution.
Europe: unique brands, hidden champions
Why a long-term approach to the continent’s growth stocks is more relevant than ever.
How DSV became global freight’s top dog
Conquering trade logistics one merger at a time.
Our best ideas in Europe
Thomas Hodges uses Lonza, Topicus and Soitec to illustrate why Europe is more exciting than headlines suggest.
European Equities
Investment manager, Stephen Paice, discusses the Baillie Gifford approach to European Equities.
Atlas Copco: Sweden’s best kept secret
Stephen Paice speaks to Matt Reustle on the Business Breakdowns podcast.
European Equities Manager Update.
When the going gets tough, exceptional companies keep going. Stephen Paice on Europe’s best.
Are You Investing In The Right Europe?
Client Director Stuart Dunbar is joined by Stephen Paice, Head of the European Equity Team and Moritz Sitte, portfolio manager of our European funds, to discuss the question ‘Are you investing in the right Europe?’.
Pushing rocks uphill: the case for European equities
Is this the turning point European investors have been waiting for?Atlas Copco: Stock Story
Ben Drury explores how a culture of innovation and decentralisation drives success in industrial technology.ASML: Stock Story
Paul Taylor explores the cutting-edge semiconductor technology advancing the digital revolution.Europe: unique brands, hidden champions
Why a long-term approach to the continent’s growth stocks is more relevant than ever.How DSV became global freight’s top dog
Conquering trade logistics one merger at a time.Our best ideas in Europe
Thomas Hodges uses Lonza, Topicus and Soitec to illustrate why Europe is more exciting than headlines suggest.European Equities
Investment manager, Stephen Paice, discusses the Baillie Gifford approach to European Equities.Atlas Copco: Sweden’s best kept secret
Stephen Paice speaks to Matt Reustle on the Business Breakdowns podcast.European Equities Manager Update.
When the going gets tough, exceptional companies keep going. Stephen Paice on Europe’s best.Are You Investing In The Right Europe?
Client Director Stuart Dunbar is joined by Stephen Paice, Head of the European Equity Team and Moritz Sitte, portfolio manager of our European funds, to discuss the question ‘Are you investing in the right Europe?’.
Documents
You can access any literature about the Fund here.
To download any document you will need Adobe Reader. Please note that we can now provide you with Braille and audio transcriptions of our literature on request. It may take up to 10 days for the transcription to be completed dependent on the size of the document.