1. Overview

    To produce capital growth over the long term by investing primarily in emerging market equities. Performance will be measured against the MSCI Emerging Markets Index.

    Investment Proposition

    We invest on a long-term (five year) perspective and have a strong preference for growth. We are looking for significant upside in each stock that we invest in. The process is driven by rigorous, fundamental, bottom-up analysis undertaken by our dedicated emerging markets team. The fund manager draws on this analysis, as well as insights gleaned from discussion with all of Baillie Gifford’s global investors, to produce a portfolio that typically holds 60–100 stocks.

    Sector Analysis of Total Assets - 3/31/2024

    Fund %

    • 1 Information Technology 31.81
    • 2 Financials 16.29
    • 3 Consumer Discretionary 14.47
    • 4 Energy 11.35
    • 5 Communication Services 8.26
    • 6 Materials 5.74
    • 7 Consumer Staples 5.22
    • 8 Industrials 2.27
    • 9 Real Estate 0.68
    • 10 Health Care 0.55
    • 11 Cash 3.36
    • Total 100.00

    Total may not sum due to rounding

    Regional Analysis of Total Assets - 3/31/2024

    Fund %

    • 1 Emerging Markets 96.64
    • 2 Cash 3.36
    • Total 100.00

    Total may not sum due to rounding

    It should not be assumed that recommendations/transactions made in the future will be profitable or will equal performance of the securities mentioned. The composition of the Fund's holdings is subject to change. Percentages are based on securities at market value. Internal classifications are used for any graphs represented above.

    There is no guarantee that the investment objective of the Fund will be achieved. Stocks fluctuate in price and the value of your investment in the Fund may go down. This means that you could lose money on your investment in the Fund or the Fund may not perform as well as other possible investments. 

    Holdings 3/31/2024

    SEDOL ISIN Company Country Holding Asset Price Currency Asset Type Market Value (CAD) Fund %
    1 6889106 TW0002330008 TSMC Taiwan 2,451,808 779.00 TWD Equity 80761518.20 11.78
    2 6771720 KR7005930003 Samsung Electronics South Korea 475,657 82400.00 KRW Equity 39397931.75 5.75
    3 BMMV2K8 KYG875721634 Tencent China 606,900 303.80 HKD Equity 31879986.40 4.65
    4 6099626 INE002A01018 Reliance Industries India 613,465 2971.70 INR Equity 29579697.01 4.31
    5 B23X1H3 US58733R1023 MercadoLibre Brazil 12,312 1511.96 USD Equity 25191089.08 3.67
    6 6450267 KR7000660001 SK Hynix South Korea 135,478 183000.00 KRW Equity 24921385.66 3.64
    7 2616580 US71654V4086 Petrobras Brazil 1,182,097 15.21 USD Equity 24331022.72 3.55
    8 BK6YZP5 KYG017191142 Alibaba China 1,406,944 70.25 HKD Equity 17089775.62 2.49
    9 Cash and Deposits International 14,840,556 0.00 CAD Equity 14840555.70 2.16
    10 6709099 ID1000118201 Bank Rakyat Indonesia Indonesia 27,014,744 6050.00 IDR Equity 13949801.26 2.03
    Total 44.04%

    TAX & DISTRIBUTIONS

    The Fund intends to pay dividends to its unitholders at least annually. Distributions will be automatically reinvested in additional units of the Fund or, if a unitholder requests, paid directly to unitholder.

    The distribution date for the Fund shall be the last Valuation Date in each taxation year or such other frequency as may be determined by the Manager. The distribution dates will appear on this page alongside the rates once they become available. For more information on the Funds distributions please see the Offering Memorandum.

    The below table shows the makeup of the most recent distributions paid.

    Fund Name

    Income Dividends

    Capital Gain

    Total Per Share

    Ex. Date

    Pay Date

    Status

    Emerging Markets Fund Series F 0.13631 0.00000 0.13631 12/29/2023 12/29/2023 Final
    Emerging Markets Fund Series Z 0.14034 0.00000 0.14034 12/29/2023 12/29/2023 Final

    Source: CIBC Mellon and Baillie Gifford & Co.

    Index Disclaimer

    Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

    Important Information

    The information provided does not constitute an offer of or solicitation for purchase or sale of securities or provision of any investment services. Baillie Gifford does not currently have any funds that offer securities under a simplified prospectus for general offer or sale within Canada. No securities regulatory authority in Canada has reviewed or in any way passed upon this website or the merits of any investment available, and any representation to the contrary is an offence.

    Persons resident or domiciled in Canada should consult with their professional advisers as to whether they require any governmental or other consents in order to enable them to trade.

    You can read details of our Legal and Important Information here.

    Trade Matching Statement
    This Trade-Matching Statement is being provided in accordance with National Instrument 24-101 -"Institutional Trade Matching and Settlement" and Companion Policy 24-101 CP (the "National
    Instrument"). It applies to all trades that are subject to the National Instrument. View the whole statement.