Overview
Investment proposition
Share price and charges
Share class
B, Acc, USDNAV per share
39.89% change
-0.91%Ongoing charges*
0.67%Initial charge
0%Fund facts
Current number of holdings
80
Guideline number of holdings
70-120
Benchmark
MSCI ACWI Index
Active share
80%**
Annual turnover
33%
Fund launch date
28 September 2011
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 invests according to sustainable and responsible investment criteria which 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.
Environmental, Social and Governance
The Fund invests according to sustainable and responsible investment criteria which means it cannot invest in certain sectors and companies. Additionally, 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. 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 April 2026
| # | Holding | % of total assets |
|---|---|---|
| 1 | NVIDIA | 5.8% |
| 2 | TSMC | 5.8% |
| 3 | Alphabet | 4.3% |
| 4 | Amazon.com | 3.9% |
| 5 | Microsoft | 3.5% |
| 6 | Meta Platforms | 2.8% |
| 7 | Samsung Electronics | 2.5% |
| 8 | Royalty Pharma | 2.4% |
| 9 | Tencent | 2.3% |
| 10 | CATL | 2.3% |
Sector
As at: 30 April 2026
# | Sector | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | Information Technology | 28.6 | 28.7 | 0.0 |
| 2 | Financials | 15.0 | 16.4 | -1.4 |
| 3 | Consumer Discretionary | 14.8 | 9.3 | 5.5 |
| 4 | Communication Services | 12.1 | 8.8 | 3.3 |
| 5 | Industrials | 10.4 | 11.3 | -0.8 |
| 6 | Health Care | 10.0 | 8.1 | 2.0 |
| 7 | Materials | 4.2 | 3.8 | 0.4 |
| 8 | Consumer Staples | 2.4 | 5.1 | -2.7 |
| 9 | Real Estate | 1.6 | 1.7 | -0.2 |
| 10 | Cash | 0.9 | 0.0 | 0.9 |
Total | 100.0 | 93.1 |
Top 10 geographical locations
As at: 30 April 2026
# | Top 10 locations | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | United States | 58.9 | 63.4 | -4.5 |
| 2 | Taiwan | 6.3 | 2.9 | 3.4 |
| 3 | China | 5.6 | 2.7 | 2.9 |
| 4 | Japan | 5.2 | 5.0 | 0.2 |
| 5 | Brazil | 3.6 | 0.6 | 3.1 |
| 6 | South Korea | 2.5 | 2.2 | 0.3 |
| 7 | Canada | 2.4 | 3.1 | -0.6 |
| 8 | Sweden | 2.1 | 0.8 | 1.3 |
| 9 | Ireland | 2.1 | 0.1 | 2.0 |
| 10 | UK | 1.7 | 3.2 | -1.5 |
Total | 90.4 | 84.0 |
Sector
As at: 30 April 2026
# | Sector | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | Information Technology | 28.6 | 28.7 | 0.0 |
| 2 | Financials | 15.0 | 16.4 | -1.4 |
| 3 | Consumer Discretionary | 14.8 | 9.3 | 5.5 |
| 4 | Communication Services | 12.1 | 8.8 | 3.3 |
| 5 | Industrials | 10.4 | 11.3 | -0.8 |
| 6 | Health Care | 10.0 | 8.1 | 2.0 |
| 7 | Materials | 4.2 | 3.8 | 0.4 |
| 8 | Consumer Staples | 2.4 | 5.1 | -2.7 |
| 9 | Real Estate | 1.6 | 1.7 | -0.2 |
| 10 | Cash | 0.9 | 0.0 | 0.9 |
Total | 100.0 | 93.1 |
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'
- 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
- Samsara
- Samsung Electronics
- Shopify 'A'
Reductions
- Amazon.com
- Elevance Health Inc
- Microsoft
Insights
Key articles, videos and podcasts relating to the fund:
Filters
Insights
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 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 Research Agenda 2025
From AI to emerging consumers, we focus on the growth areas and companies capitalising on opportunities.
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.
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 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 Research Agenda 2025
From AI to emerging consumers, we focus on the growth areas and companies capitalising on opportunities.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.