Overview
Investment proposition
Share price and charges
Share class
B, Acc, USDNAV per share
34.48% change
0.07%Ongoing charges*
0.65%Initial charge
0%Fund facts
Current number of holdings
89
Guideline number of holdings
70-120
Benchmark
MSCI ACWI Index
Active share
79%**
Annual turnover
37%
Fund launch date
9 July 2012
Style
Long-term, bottom up growth
Fund Settlement Cycle
Trade date plus two business days (T+2)
Fund size calculated using base currency in Euro and converted into listed currencies. **Relative to MSCI ACWI Index. Source: Baillie Gifford & Co, MSCI.
Meet the managers
Risks
General Investment Risk
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.
Environmental, Social and Governance
The Fund's approach to Environmental, Social and Governance (ESG) means it cannot invest in certain sectors and 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. Data used to apply the criteria may be provided by third party sources and is based on backward-looking analysis and the subjective nature of non-financial criteria means a wide variety of outcomes are possible. There is a risk that data provided may not adequately address the underlying detail around material non-financial considerations. Please consider all of the characteristics and objectives of the fund as described in the Key Information Document (KID) and prospectus before making a decision to invest in the Fund. For more information on how sustainability issues, such as climate change are considered, see bailliegifford.com.
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.
Further Details
Further details of the risks associated with investing in the Fund can be found in the Key Information Document (KID), or the Prospectus. Copies of both the KID and Prospectus are available at bailliegifford.com.
Definitions
Active Share - A measure of the Fund's overlap with the benchmark. An active share of 100 indicates no overlap with the benchmark and an active share of zero indicates a portfolio that tracks the benchmark.
Index disclaimer
Complaints
In the first instance, clients should contact their normal Client Contact with any concerns. Alternatively, or for those clients who do not have a direct client contact assigned, complaints can be emailed to Baillie Gifford’s Compliance Department at: InstitutionalComplaints@bailliegifford.com.
A summary document which contains details on Baillie Gifford’s complaints management policy is available upon request. All material complaints are recorded in an in-house incident management system and are escalated to, and dealt with by, members of staff of suitable seniority, independent of the area from which the matter arose.
Fund performance
Fund portfolio holdings
The list of top 10 holdings that this fund invests in.
As at: 30 June 2026
| # | Holding | % of total assets |
|---|---|---|
| 1 | TSMC | 5.7% |
| 2 | NVIDIA | 5.2% |
| 3 | Alphabet | 3.8% |
| 4 | Amazon.com | 3.3% |
| 5 | Samsung Electronics | 2.3% |
| 6 | Tencent | 2.0% |
| 7 | Martin Marietta Materials | 1.9% |
| 8 | Mastercard | 1.9% |
| 9 | Microsoft | 1.9% |
| 10 | Royalty Pharma | 1.8% |
Sector
As at: 30 June 2026
# | Sector | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | Information Technology | 29.5 | 32.1 | -2.6 |
| 2 | Financials | 13.7 | 16.2 | -2.5 |
| 3 | Consumer Discretionary | 13.2 | 8.7 | 4.5 |
| 4 | Industrials | 11.4 | 11.0 | 0.4 |
| 5 | Communication Services | 9.5 | 7.8 | 1.7 |
| 6 | Health Care | 9.1 | 8.3 | 0.8 |
| 7 | Materials | 5.3 | 3.6 | 1.7 |
| 8 | Energy | 3.5 | 3.5 | 0.0 |
| 9 | Consumer Staples | 2.2 | 4.7 | -2.5 |
| 10 | Real Estate | 1.4 | 1.6 | -0.2 |
| 11 | Cash | 1.3 | 0.0 | 1.3 |
Total | 100.0 | 97.5 |
Top 10 geographical locations
As at: 30 June 2026
# | Top 10 locations | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | United States | 56.9 | 63.6 | -6.7 |
| 2 | Taiwan | 6.6 | 3.3 | 3.2 |
| 3 | Japan | 5.5 | 5.0 | 0.5 |
| 4 | China | 4.4 | 2.3 | 2.0 |
| 5 | Brazil | 3.7 | 0.5 | 3.2 |
| 6 | Ireland | 3.3 | 0.1 | 3.2 |
| 7 | South Korea | 3.1 | 2.9 | 0.2 |
| 8 | Canada | 2.3 | 2.9 | -0.6 |
| 9 | Sweden | 2.0 | 0.7 | 1.3 |
| 10 | UK | 1.7 | 3.0 | -1.3 |
Total | 89.5 | 84.4 |
Region
As at: 30 June 2026
# | Region | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | North America | 59.2 | 66.6 | -7.3 |
| 2 | Emerging Markets | 19.9 | 12.1 | 7.8 |
| 3 | Europe (ex UK) | 11.6 | 11.1 | 0.4 |
| 4 | Developed Asia Pacific | 6.3 | 7.1 | -0.8 |
| 5 | UK | 1.7 | 3.0 | -1.3 |
| 6 | Cash | 1.3 | 0.0 | 1.3 |
Total | 100.0 | 100.0 |
Quarterly transactions
Transactions for the three-month period ending 30 June 2026
New purchases
- Apple
- Axon Enterprise Inc
- BESI
- Cullen/Frost Bankers
- Lasertec Corp.
- LINDE PLC
- Mediatek
- RBC Bearings Inc
- SK Hynix Inc
- TIDEWATER INC NEW
- WARTSILA
Complete sales
- Edenred
- Enphase Energy Inc
- Kweichow Moutai 'A'
- Nippon Paint
Additions
- Amazon.com
- AutoZone
Reductions
- Disco
- Meta Platforms Inc
- Microsoft
- On Semiconductor Corp
- Royalty Pharma
- Ryanair ADR
- Samsung Electronics
- Service Corp.Intl.
- Texas Instruments
Insights
Key articles, videos and podcasts relating to the fund:
Filters
Insights
Medpace: easing the bottleneck in drug development
Why Global Alpha sees Medpace as part of drug development’s essential infrastructure.
Global Alpha Q2 update
Investment specialist Ben Drury reflects on recent performance, portfolio changes and market developments.
Global Alpha Forum: the changing growth opportunity set
How Global Alpha is seeking growth across companies, regions and real-world constraints.
Stock story: Sea Limited
Amy Leishman examines Sea’s role in Southeast Asia’s changing digital economy.
Stock markets: ecology and evolution
Why capital flows and market narratives are changing how global markets behave.
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.
AI is coming for your mind
AI is reshaping human cognition. What does that mean for workers, companies and society?
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?
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.
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 Q1 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Medpace: easing the bottleneck in drug development
Why Global Alpha sees Medpace as part of drug development’s essential infrastructure.Global Alpha Q2 update
Investment specialist Ben Drury reflects on recent performance, portfolio changes and market developments.Global Alpha Forum: the changing growth opportunity set
How Global Alpha is seeking growth across companies, regions and real-world constraints.Stock story: Sea Limited
Amy Leishman examines Sea’s role in Southeast Asia’s changing digital economy.Stock markets: ecology and evolution
Why capital flows and market narratives are changing how global markets behave.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.AI is coming for your mind
AI is reshaping human cognition. What does that mean for workers, companies and society?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?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.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 Q1 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
How to invest
You can invest in our funds through a wide range of investment platforms. If your preferred platform does not currently offer our funds, they may be made available upon request by contacting the platform directly.
Baillie Gifford does not sponsor, maintain, or have any control over the content of any other websites. Therefore, we are not responsible for the adequacy or accuracy of any of the information you may view, nor do we undertake to ensure successful transmission to any linked website.
Documents
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.