1. International Concentrated Growth Fund

    International Concentrated Growth Fund

  2. Overview

    To produce capital growth over the long term by investing primarily in equities outside of the US. Performance will be measured against the MSCI ACWI ex US Index.

    Investment Proposition

    The Fund invests in exceptional growth companies operating in international markets. We invest with a 10-year investment horizon which we believe differentiates us from the market and allows us to benefit from the power of compound returns. We run a concentrated portfolio to avoid diluting the growth stocks in which we have the highest conviction.

    Holdings 10/31/2023

    SEDOL ISIN Company Country Holding Asset Price Currency Asset Type Market Value (CAD) Fund %
    1 B23X1H3 US58733R1023 MercadoLibre Brazil 4,951 1240.74 USD Equity 8527886.15 15.04
    2 B929F46 NL0010273215 ASML Netherlands 7,877 565.30 EUR Equity 6534138.68 11.52
    3 BD6G507 NL0011585146 Ferrari Italy 10,552 285.50 EUR Equity 4420683.39 7.80
    4 BFZ1K46 LU1778762911 Spotify Sweden 13,820 164.76 USD Equity 3161021.94 5.58
    5 2379504 US67066G1040 NVIDIA United States 5,318 407.80 USD Equity 3010670.58 5.31
    6 5505072 FR0000121485 Kering France 5,295 383.20 EUR Equity 2977419.18 5.25
    7 BGJW376 KYG596691041 Meituan China 141,760 110.60 HKD Equity 2781726.12 4.91
    8 5253973 FR0000052292 Hermès International France 918 1759.60 EUR Equity 2370310.01 4.18
    9 BZCNB42 DE000A2E4K43 Delivery Hero Germany 62,633 23.97 EUR Equity 2203026.72 3.89
    10 BMMV2K8 KYG875721634 Tencent China 41,300 289.20 HKD Equity 2119111.84 3.74
    Total 67.21%

    Total may not sum due to rounding

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    Sector Analysis of Total Assets - 9/30/2023

    Fund %

    • 1 Consumer Discretionary 48.20
    • 2 Information Technology 18.53
    • 3 Health Care 10.98
    • 4 Communication Services 8.55
    • 5 Consumer Staples 5.44
    • 6 Financials 4.62
    • 7 Industrials 1.43
    • 8 Materials 0.48
    • 9 Cash 1.77
    • Total 100.00

    Total may not sum due to rounding

    Regional Analysis of Total Assets - 9/30/2023

    Fund %

    • 1 Europe (ex UK) 50.04
    • 2 Emerging Markets 26.45
    • 3 North America 15.93
    • 4 UK 3.60
    • 5 Developed Asia Pacific 2.21
    • 6 Cash 1.77
    • Total 100.00

    Total may not sum due to rounding

    ASSET CLASS ANALYSIS 9/30/2023

    Fund %

    • 1 Listed Equities 84.26
    • 2 Cash and Equivalents 1.77
    • 3 Unclassified 13.97
    • Total 100.00

    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. 

    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
    International Concentrated Growth Fund Series Z 0.04517 0.00000 0.04517 12/30/2022 12/30/2022 Final
    International Concentrated Growth Fund Series F 0.00000 0.00000 0.00000 12/30/2022 12/30/2022 Final

    Source: CIBC Mellon and Baillie Gifford & Co.

    Capital Gains

    Please click here to view estimated capital gain distributions for 2023.

    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.