Overview
Fund objective
The Global Alpha Paris-Aligned Fund aims to outperform (after deduction of costs) the MSCI ACWI Index, as stated in sterling, over rolling five-year periods, and aims to have a carbon footprint that is lower than that of the MSCI ACWI EU Paris Aligned Requirements Index.
The manager believes this is an appropriate target given the investment policy of the Fund and the approach taken by the manager when investing. In addition, the manager believes an appropriate performance comparison for this Fund is the Investment Association Global Sector.
There is no guarantee that this objective will be achieved over any time period and actual investment returns may differ from this objective, particularly over shorter time periods.
Investment proposition
Share price and charges
Share class
B, AccPrice
113.90p% change
-0.78%Yield
0.1%Ex-dividend (XD)
NOngoing charges*
0.59%Initial charge
0.0%Minimum investment
£100,000Minimum top up
£1,000Sustainability label
Sustainable investment labels help investors find products that have a specific sustainability goal. This product does not have a UK sustainable investment label. This product promotes environmental and/or social characteristics but does not meet the requirements to adopt a label. More details can be found in the product’s SDR Sustainability-related Disclosure Document found within the documents section of the website.
Fund facts
Fund launch date
15 April 2021
Fund size
£249.92m
The Investment Association sector
Global
Comparative Index
MSCI ACWI Index
Active share
79%**
Annual turnover
32%
Guideline number of holdings
70-120
Current number of holdings
83
Style
Active Growth
XD Date
Last day of July and January each year
Distribution
Last day of September and March each year
Pricing
Valuation point 10am daily, swinging single price
Fund settlement cycle
Trade date plus two business days (T+2)
**Relative to MSCI ACWI Index. Source: Baillie Gifford & Co, MSCI.
Meet the managers
Risk Warnings
Risk Introduction
Investment markets can go down as well as up and market conditions can change rapidly. The value of an investment in the Fund, and any income from it, can fall as well as rise and investors may not get back the amount invested. The specific risks associated with the Fund include:
Custody
Custody of assets, particularly in emerging markets, involves a risk of loss if a custodian becomes insolvent or breaches duties of care.
Emerging Markets
The Fund invests in emerging markets where difficulties in trading could arise, resulting in a negative impact on the value of your investment.
Foreign Currency
The Fund has exposure to foreign currencies and changes in the rates of exchange will cause the value of any investment, and income from it, to fall as well as rise and you may not get back the amount invested.
Volatility
The Fund's share price can be volatile due to movements in the prices of the underlying holdings and the basis on which the Fund is priced.
Environmental, Social and Governance
The Fund employs carbon screens which means it cannot invest in certain companies. The universe of available investments will be more limited than other funds that do not apply such criteria/ exclusions, therefore the Fund may have different returns than a fund which has no such restrictions.
Further Information
Further details of the risks associated with investing in the Fund can be found in the Key Investor Information Document or the Prospectus, copies of which are available at bailliegifford.com.
Index disclaimer
Important information
Your location indicates you are based in Guernsey and you have confirmed that you are an intermediary. The information in the website is not intended for retail investors. Please select “Change” at the top of the page if this is not suitable for you.
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.
Fund performance
Periodic performance
As at: 30 April 2026
1 Month | 3 Months | 6 Months | 1 Year | 3 Years | 5 Years | |
|---|---|---|---|---|---|---|
Class B-Acc | 10.3% | -1.1% | -6.4% | 19.5% | 10.5% | 1.6% |
Index* | 7.0% | 4.7% | 4.4% | 29.3% | 17.2% | 11.6% |
Sector Average** | 6.7% | 2.8% | 2.7% | 23.3% | 12.2% | 7.4% |
Sector Ranking | 64/588 | 503/585 | 532/580 | 363/571 | 314/500 | 401/439 |
Figures for 3 years and Since Inception are shown as the annualised rate of return. This is the average yearly return over the specified period.
Annual discrete performance
As at: 31 March 2026
31/03/2021 – 31/03/2022 | 31/03/2022 – 31/03/2023 | 31/03/2023 – 31/03/2024 | 31/03/2024 – 31/03/2025 | 31/03/2025 – 31/03/2026 | |
|---|---|---|---|---|---|
Class B-Acc | n/a | -8.4% | 17.6% | -1.8% | 5.6% |
Index* | n/a | -0.9% | 21.2% | 5.3% | 18.0% |
Sector Average** | n/a | -2.7% | 16.7% | -0.3% | 13.4% |
Important information
Your location indicates you are based in Guernsey and you have confirmed that you are an intermediary. The information in the website is not intended for retail investors. Please select “Change” at the top of the page if this is not suitable for you.
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.
Fund portfolio holdings
The list of top 10 holdings that this fund invests in.
As at: 30 April 2026
| # | Holding | % of total assets |
|---|---|---|
| 1 | NVIDIA | 5.9% |
| 2 | TSMC | 5.6% |
| 3 | Alphabet | 4.2% |
| 4 | Amazon.com | 3.8% |
| 5 | Microsoft | 3.4% |
| 6 | Meta Platforms | 2.8% |
| 7 | Samsung Electronics | 2.4% |
| 8 | CATL | 2.3% |
| 9 | Tencent | 2.3% |
| 10 | Royalty Pharma | 2.3% |
Sector
As at: 30 April 2026
# | Sector | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | Information Technology | 28.2 | 28.7 | -0.5 |
| 2 | Financials | 14.7 | 16.4 | -1.7 |
| 3 | Consumer Discretionary | 14.5 | 9.3 | 5.2 |
| 4 | Communication Services | 11.8 | 8.8 | 3.0 |
| 5 | Industrials | 11.1 | 11.3 | -0.2 |
| 6 | Health Care | 9.7 | 8.1 | 1.6 |
| 7 | Materials | 4.1 | 3.8 | 0.3 |
| 8 | Consumer Staples | 3.7 | 5.1 | -1.4 |
| 9 | Real Estate | 1.6 | 1.7 | -0.2 |
| 10 | Cash | 0.7 | 0.0 | 0.7 |
Total | 100.0 | 93.1 |
Top 10 geographical locations
As at: 30 April 2026
# | Top 10 locations | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | United States | 59.1 | 63.4 | -4.3 |
| 2 | Taiwan | 6.1 | 2.9 | 3.2 |
| 3 | China | 6.1 | 2.7 | 3.4 |
| 4 | Japan | 5.0 | 5.0 | 0.0 |
| 5 | Brazil | 3.6 | 0.6 | 3.0 |
| 6 | South Korea | 2.4 | 2.2 | 0.2 |
| 7 | Canada | 2.4 | 3.1 | -0.7 |
| 8 | Sweden | 2.1 | 0.8 | 1.3 |
| 9 | Ireland | 2.0 | 0.1 | 1.9 |
| 10 | UK | 1.7 | 3.2 | -1.5 |
Total | 90.7 | 84.0 |
Region
As at: 30 April 2026
# | Region | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | North America | 61.5 | 66.5 | -5.0 |
| 2 | Emerging Markets | 20.8 | 11.8 | 9.1 |
| 3 | Europe (ex UK) | 9.4 | 11.2 | -1.8 |
| 4 | Developed Asia Pacific | 5.8 | 7.3 | -1.5 |
| 5 | UK | 1.7 | 3.2 | -1.5 |
| 6 | Cash | 0.7 | 0.0 | 0.7 |
Total | 100.0 | 100.0 |
Quarterly transactions
Transactions for the three-month period ending 31 March 2026
New purchases
- Chugai Pharmaceutical
- Credicorp
- Dino Polska
- Freeport-Mcmoran Copper
- Midea Group 'A'
- Philip Morris
- Poste Italiane SPA
- SEB Bank
- Tencent
- United Overseas Bank
Complete sales
- AJ Gallagher & Co
- ASM International NV
- Block Inc
- Coupang
- Epam Systems Inc
- Floor & Decor Holdings
- FTAI Aviation
- Li Auto 'H'
- PDD Holdings Inc
- Prosus N.V.
- Rakuten
- S&P Global Inc
- Salesforce.com
- The Trade Desk
- Walt Disney
Additions
- Adyen NV
- B3 S.A.
- Brunswick Corp
- Cosmos Pharmaceutical
- Samsara
- Samsung Electronics
- Shopify 'A'
Reductions
- Amazon.com
- Elevance Health Inc
- Microsoft
Important information
Your location indicates you are based in Guernsey and you have confirmed that you are an intermediary. The information in the website is not intended for retail investors. Please select “Change” at the top of the page if this is not suitable for you.
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.
Insights
Key articles, videos and podcasts relating to the fund:
Filters
Insights
The big squeeze: bottlenecks as advantage
When demand outstrips supply, companies that sit astride the pinch point can gain an enduring edge.
AI: valuing scarcity
AI is creating new abundance and shifting bottlenecks. We explore which businesses can win in the long term.
Global Alpha Q1 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha Q1 update
Investment manager Malcolm MacColl reflects on recent performance, portfolio changes and market developments.
Global Alpha insights: agentic commerce
As AI simplifies shopping, where does durable ecommerce advantage remain?
Global Alpha insights: QXO's recipe for steady compounding
An $800bn analogue industry meets operational discipline.
What's your growth flavour?
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Don’t burn your boats: investing in AI
Why we’re ruthlessly selective about AI-related stocks.
Global Alpha Q4 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha Q4 update
Investment specialist Ben Drury reflects on recent performance, portfolio changes and market developments.
What’s your flavour of choice?
Three investment managers debate growth strategies from tech disruption to steady compounders
Global Alpha Research Agenda 2025
From AI to emerging consumers, we focus on the growth areas and companies capitalising on opportunities.
Global Alpha insights: our reliable growth engine
Not flashy, just dependable. Why compounders remain the engine of durable long-term returns.
Amazon: Stock Story
Jon Henry gives three key reasons why tech giant Amazon remains a special investment.
Adyen: Stock Story
Beatrice Faleri explores Adyen, the one-platform engine for unified commerce.
TSMC: Stock Story
Qian Zhang unwraps TSMC, the company powering modern life.
Global Alpha insights: the grid for growth
AI’s massive electricity needs create compelling investment opportunities.
Global Alpha Q3 update
Investment manager Michael Taylor reflects on recent performance, portfolio changes and market developments.
Global Alpha Q3 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha insights: the future of finance
Coinbase is reshaping finance by uniting digital assets, stablecoins and trust.
Global Alpha insights: onsemi
How the chip maker reinvented itself from ugly duckling to industry leader.
Global Alpha Q2 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha Q2 update
Investment manager Helen Xiong reflects on recent performance, portfolio changes and market developments.
Uncommon understanding
Global Alpha’s investment managers reveal how they spot what others don’t see.
Global Alpha: an enduring focus in a changing world
Explore 20 years of Global Alpha in our anthology of articles covering the past, present and future.
Global Alpha insights: infrastructure
Why companies like Martin Marietta are set to benefit from increased spending on infrastructure.
Global Alpha: introducing Michael Taylor
Investment manager Michael Taylor joins Global Alpha as a decision-maker. We explore his background, strengths, and vision for the portfolio’s future opportunities.
Global Alpha insights: turbulent times
How can we participate in long-term progress without it being undone by every policy turn?
Alnylam: Stock Story
Richie Vernon explores the revolutionary drugs transforming patient lives.
Global Alpha Q1 update
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha Q1 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha insights: a time to trade?
Explore how we're evolving the portfolio as the investment environment enters a period of rapid change.
Cloudflare: Stock Story
Ben James highlights how one cybersecurity approach is redefining digital infrastructure.
Nexans: Stock Story
Lucy Haddow examines the sub-sea cable manufacturer crucial for the offshore wind and energy transition.
Atlas Copco: Stock Story
Ben Drury explores how a culture of innovation and decentralisation drives success in industrial technology.
Moutai: Stock Story
Ben Buckler investigates the Chinese brand dominating the global luxury drinks market.
DoorDash: delivering the goods
How DoorDash’s ambitions extend far beyond restaurant deliveries.
Global Alpha Insights: investing in resilience beyond political cycles
Why the Global Alpha Team believes elections don't impact stock market returns.
Global Alpha Q4 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha insights: Rakuten and the 'Dog Shogun'
Richie Vernon, investment specialist, explains why the Global Alpha Team has a different perspective on Rakuten's future market growth.
Why growth investors can’t ignore China
China’s electric car, battery and other advanced manufacturers are on the rise.
Global Alpha insights: unlocking the magic of Disney
Why the Global Alpha Team believes there is a magical journey ahead for Disney.
Our best ideas in the US
Ben James explains why DoorDash, The Trade Desk and CoStar stand out as growth stocks in the US.
Eric Beinhocker: evolutionary economist
How successful companies harness the power of adaptation.
Kweichow Moutai: spirit of China
The fiery spirit that’s a profitable symbol of Chinese culture and luxury.
Beyond NVIDIA: investing in semiconductors
Why some of the leading computer chip makers and companies enabling them have room to grow.
China: the new shoots of growth
Why advanced manufacturing and social context are key to investing in tomorrow’s Chinese giants.Global Alpha Research Agenda
From AI to infrastructure – Global Alpha homes in on the growth areas and companies best placed to exploit opportunities.
Global Alpha: back to growth
The managers tell a London Investment Forum about new sources of opportunity and optimism.
Global Alpha: manager update
The managers discuss the market environment, portfolio positioning and current opportunities.
Global Alpha
Investment manager, Helen Xiong, discusses Global Alpha.
How Microsoft got its mojo back
By shifting the focus from Windows and embracing AI, the firm has revitalised its fortunes.
Global Alpha Research Agenda 2023
How can we invest in quality companies with the potential to generate sustainable returns in a changing market?
Digital Disruption and the future
Online infrastructures and digital developments in the education, energy, and transport sectors make for an exciting future.
Global Alpha 2022 Research Agenda
In their Research Agenda for 2022, the investment managers consider the benefits of deep work in helping them find growth opportunities.
Harnessing growth for the next decade
Investment manager Malcolm MacColl and Senior Governance and Sustainability Analyst Kieran Murray outline believed growth drivers and the development of Global Alpha’s ESG process.
Highlights Video: Harnessing growth for the next decade
Watch the highlights from the recent Global Alpha webinar: Harnessing growth for the next decade.
The big squeeze: bottlenecks as advantage
When demand outstrips supply, companies that sit astride the pinch point can gain an enduring edge.AI: valuing scarcity
AI is creating new abundance and shifting bottlenecks. We explore which businesses can win in the long term.Global Alpha Q1 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha Q1 update
Investment manager Malcolm MacColl reflects on recent performance, portfolio changes and market developments.Global Alpha insights: agentic commerce
As AI simplifies shopping, where does durable ecommerce advantage remain?Global Alpha insights: QXO's recipe for steady compounding
An $800bn analogue industry meets operational discipline.What's your growth flavour?
Three investment managers. Three different approaches to growth investing. But can all of them be right?Don’t burn your boats: investing in AI
Why we’re ruthlessly selective about AI-related stocks.Global Alpha Q4 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha Q4 update
Investment specialist Ben Drury reflects on recent performance, portfolio changes and market developments.What’s your flavour of choice?
Three investment managers debate growth strategies from tech disruption to steady compoundersGlobal Alpha Research Agenda 2025
From AI to emerging consumers, we focus on the growth areas and companies capitalising on opportunities.Global Alpha insights: our reliable growth engine
Not flashy, just dependable. Why compounders remain the engine of durable long-term returns.Amazon: Stock Story
Jon Henry gives three key reasons why tech giant Amazon remains a special investment.Adyen: Stock Story
Beatrice Faleri explores Adyen, the one-platform engine for unified commerce.TSMC: Stock Story
Qian Zhang unwraps TSMC, the company powering modern life.Global Alpha insights: the grid for growth
AI’s massive electricity needs create compelling investment opportunities.Global Alpha Q3 update
Investment manager Michael Taylor reflects on recent performance, portfolio changes and market developments.Global Alpha Q3 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha insights: the future of finance
Coinbase is reshaping finance by uniting digital assets, stablecoins and trust.Global Alpha insights: onsemi
How the chip maker reinvented itself from ugly duckling to industry leader.Global Alpha Q2 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha Q2 update
Investment manager Helen Xiong reflects on recent performance, portfolio changes and market developments.Uncommon understanding
Global Alpha’s investment managers reveal how they spot what others don’t see.Global Alpha: an enduring focus in a changing world
Explore 20 years of Global Alpha in our anthology of articles covering the past, present and future.Global Alpha insights: infrastructure
Why companies like Martin Marietta are set to benefit from increased spending on infrastructure.Global Alpha: introducing Michael Taylor
Investment manager Michael Taylor joins Global Alpha as a decision-maker. We explore his background, strengths, and vision for the portfolio’s future opportunities.Global Alpha insights: turbulent times
How can we participate in long-term progress without it being undone by every policy turn?Alnylam: Stock Story
Richie Vernon explores the revolutionary drugs transforming patient lives.Global Alpha Q1 update
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha Q1 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha insights: a time to trade?
Explore how we're evolving the portfolio as the investment environment enters a period of rapid change.Cloudflare: Stock Story
Ben James highlights how one cybersecurity approach is redefining digital infrastructure.Nexans: Stock Story
Lucy Haddow examines the sub-sea cable manufacturer crucial for the offshore wind and energy transition.Atlas Copco: Stock Story
Ben Drury explores how a culture of innovation and decentralisation drives success in industrial technology.Moutai: Stock Story
Ben Buckler investigates the Chinese brand dominating the global luxury drinks market.DoorDash: delivering the goods
How DoorDash’s ambitions extend far beyond restaurant deliveries.Global Alpha Insights: investing in resilience beyond political cycles
Why the Global Alpha Team believes elections don't impact stock market returns.Global Alpha Q4 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha insights: Rakuten and the 'Dog Shogun'
Richie Vernon, investment specialist, explains why the Global Alpha Team has a different perspective on Rakuten's future market growth.Why growth investors can’t ignore China
China’s electric car, battery and other advanced manufacturers are on the rise.Global Alpha insights: unlocking the magic of Disney
Why the Global Alpha Team believes there is a magical journey ahead for Disney.Our best ideas in the US
Ben James explains why DoorDash, The Trade Desk and CoStar stand out as growth stocks in the US.Eric Beinhocker: evolutionary economist
How successful companies harness the power of adaptation.Kweichow Moutai: spirit of China
The fiery spirit that’s a profitable symbol of Chinese culture and luxury.Beyond NVIDIA: investing in semiconductors
Why some of the leading computer chip makers and companies enabling them have room to grow.China: the new shoots of growth
Why advanced manufacturing and social context are key to investing in tomorrow’s Chinese giants.Global Alpha Research Agenda
From AI to infrastructure – Global Alpha homes in on the growth areas and companies best placed to exploit opportunities.Global Alpha: back to growth
The managers tell a London Investment Forum about new sources of opportunity and optimism.Global Alpha: manager update
The managers discuss the market environment, portfolio positioning and current opportunities.Global Alpha
Investment manager, Helen Xiong, discusses Global Alpha.How Microsoft got its mojo back
By shifting the focus from Windows and embracing AI, the firm has revitalised its fortunes.Global Alpha Research Agenda 2023
How can we invest in quality companies with the potential to generate sustainable returns in a changing market?Digital Disruption and the future
Online infrastructures and digital developments in the education, energy, and transport sectors make for an exciting future.Global Alpha 2022 Research Agenda
In their Research Agenda for 2022, the investment managers consider the benefits of deep work in helping them find growth opportunities.Harnessing growth for the next decade
Investment manager Malcolm MacColl and Senior Governance and Sustainability Analyst Kieran Murray outline believed growth drivers and the development of Global Alpha’s ESG process.Highlights Video: Harnessing growth for the next decade
Watch the highlights from the recent Global Alpha webinar: Harnessing growth for the next decade.
Important information
Your location indicates you are based in Guernsey and you have confirmed that you are an intermediary. The information in the website is not intended for retail investors. Please select “Change” at the top of the page if this is not suitable for you.
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.
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.
Important information
Your location indicates you are based in Guernsey and you have confirmed that you are an intermediary. The information in the website is not intended for retail investors. Please select “Change” at the top of the page if this is not suitable for you.
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.