BAILLIE GIFFORD UK GROWTH FUNDBAILLIE GIFFORD UK GROWTH FUND
The Trust aims to maximise capital growth over the long-term from investment primarily in shares of listed UK equities which have the potential to deliver a total return in excess of the FTSE All-Share Index.
The portfolio is a high conviction, concentrated selection of our best ideas in the UK with a bias to mid and smaller cap growth companies, where we intuitively believe the growth spot for UK equities to be.
Performance & Portfolio
Annual Performance to 30 June each year
Share Price -5.0% 19.3% 16.5% -0.2% -2.5% NAV -0.2% 15.8% 9.6% -1.4% -3.2% Index* 2.2% 18.1% 9.0% 0.6% -13.0%
All figures to 31/08/2020
Share Price 6.0% 13.8% 32.4% 115.3% NAV 3.7% 6.0% 26.9% 108.0% Index* -12.7% -8.2% 17.3% 77.6%
The value of your investment may go down as well as up, and you may not get back the amount you invested.
NAV is calculated with borrowings deducted at fair value for 1, 3 and 5 years and par value for 10 years.
*FTSE All-Share (GBP) TR.
Performance source: Morningstar and relevant underlying index provider, total return.
Please bear in mind that past performance is not a guide to future performance.Performance - 31/08/2020Baillie Gifford took over the management of the Trust in July 2018.
The value of your investment may go down as well as up, and you may not get back the amount you invested.
Benchmark data is limited to a 5 year period from the current date.
The graph has been rebased to 100.
Baillie Gifford took over the management of the Trust in July 2018.
Please bear in mind that past performance is not a guide to future performance.Unfortunately we were unable to load the chart. Please try again later.Discount/Premium History at Fair - 31/08/2020The value of your investment may go down as well as up, and you may not get back the amount you invested.
If the graph shows negative figures this means that the share price is lower than the NAV at fair – this is known as trading at a Discount.
If the graph shows positive figures this means that the share price is higher than the NAV at fair - this is known as trading at a Premium.
Please bear in mind that past performance is not a guide to future performance.
Holdings - 31/08/2020
Fund % 1 Renishaw 4.3% 2 Auto Trader 4.2% 3 Genus 3.7% 4 Abcam 3.6% 5 St. James's Place 3.6% 6 HomeServe 3.6% 7 Rightmove 3.5% 8 Hargreaves Lansdown 3.4% 9 Games Workshop Group 3.4% 10 Prudential 3.2% Total 36.5%All holdings of 0.7% and above Fund % 1 Renishaw 4.3% 2 Auto Trader 4.2% 3 Genus 3.7% 4 Abcam 3.6% 5 St. James's Place 3.6% 6 HomeServe 3.6% 7 Rightmove 3.5% 8 Hargreaves Lansdown 3.4% 9 Games Workshop Group 3.4% 10 Prudential 3.2% Total 36.5%Unfortunately we were unable to load the chart. Please try again later.Unfortunately we were unable to load the chart. Please try again later.
InsightsAll insightsSeptember 2020
UK Growth Fund Stewardship Report 2020.
Baillie Gifford has been managing the assets of the Baillie Gifford UK Growth Fund plc (BGUK) since the end of June 2018. This report focuses on how Baillie Gifford, on behalf of the investment trust, fulfils its stewardship responsibilities; responsibilities that are engrained in the long-term growth philosophy of the Managers as `actual’ investors.July 2020
UK Growth Fund Manager Update.
Investment manager Iain McCombie gives an update on the positioning and activity of the Baillie Gifford UK Growth Fund portfolio.March 2020
UK Stock Stories - Abcam and Homeserve.
Investment managers Iain McCombie and Milena Mileva give some examples of companies within the UK portfolio that show exciting growth potential.Third Quarter 2019
Baillie Gifford UK Growth Fund plc - Stock Stories.
Investment managers Iain McCombie and Milena Mileva give an update on the Baillie Gifford UK Growth Fund plc and discuss some examples of companies within the portfolio that show exciting growth potential.Second Quarter 2019
Podcast - Fashion Retailers – The Impact of Online Shopping.
In the fourth episode of Short Briefings on Long Term Thinking, Malcolm Borthwick is joined by Milena Mileva to discuss how profound changes in consumer behaviour are changing the retail landscape both online and in bricks-and-mortar stores.ARCHIVEDAutumn 2018
Going for Growth.
Iain McCombie and Milena Mileva, co-managers of the Baillie Gifford UK Growth Fund, talk to Heather Farmbrough about their new portfolio and five of their favourite growth stocks.ARCHIVEDJune 2018
Baillie Gifford UK Growth Fund plc.
Milena Mileva and Iain McCombie, co-managers of the Baillie Gifford UK Growth Fund plc, give an overview of the trust following the board’s decision to move the mandate to Baillie Gifford.
View all Insights.
Meet the Managers
Iain is the lead manager of our UK Core strategy. He is also a member of the Global Stewardship Portfolio Construction Group (PCG). Most recently, Iain served as Chief of Investment Staff from 2013 to 2018 and became a Partner of the firm in 2005. He initially joined Baillie Gifford in 1994 and spent five years training as an Investment Manager in the US Equities Team before joining the UK Equity Team in 1999. Iain graduated MA in Accountancy from the University of Aberdeen and subsequently trained as a Chartered Accountant.
Milena joined Baillie Gifford in 2009 and is an Investment Manager in the UK Equity Team. She graduated BA in Social & Political Science from the University of Cambridge in 2007 and MPhil in Politics from the University of Oxford in 2009.
How to Invest
You can invest in our funds via a number of fund platforms and supermarkets, please see the links opposite. Information on the range of funds available through platforms can be found in our Platform Matrix
Further information on our funds can be found in the relevant Key Investor Information and Prospectus Documents, which are available in English and will be sent to you free of charge on request.
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.
How to Invest
Getting Financial Advice
At Baillie Gifford we don’t provide financial advice, but we do try our best to provide you with all the information we think you might need to make investment decisions. Of course, we realise there are occasions when you may want the advice of an expert.
Using professional financial advice
An authorised intermediary can give you advice and help on how best to manage your financial affairs based on your circumstances and investment aspirations. They can also help keep track of all your different investment interests, saving you a lot of time and bookkeeping.
Finding a financial adviser near you
If you want to use an authorised intermediary, MyLocalAdviser is a website that allows you to search for authorised intermediaries in your area. You can visit their site on www.mylocaladviser.co.uk
You can access any literature about the Fund here, either by downloading or requesting a copy by post (where available). 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.
Investor Disclosure Document
Key Information Document
Other Fund Literature
Any investment in an investment trust involves risk. You should be aware of the following risks when considering investing.
Past performance is not a guide to future performance.
The value of your investment
The investment trusts managed by Baillie Gifford & Co Limited are listed UK companies and are not authorised or regulated by the Financial Conduct Authority. The value of their shares, and any income from them, can fall as well as rise and investors may not get back the amount invested.
The Trust can borrow money to make further investments (sometimes known as “gearing” or “leverage”). The risk is that when this money is repaid by the Trust, the value of the investments may not be enough to cover the borrowing and interest costs, and the Trust will make a loss. If the Trust's investments fall in value, any invested borrowings will increase the amount of this loss.
The Trust can buy back its own shares. The risks from borrowing, referred to above, are increased when a trust buys back its own shares.
Market values for securities which have become difficult to trade may not be readily available and there can be no assurance that any value assigned to such securities will accurately reflect the price the Trust might receive upon their sale.
The Trust can make use of derivatives to obtain, increase or reduce exposure to assets and may result in the Trust being leveraged. Derivatives are most often used to compensate for possible unfavourable currency and market movements. This may result in greater movements (down or up) in the net asset value of the Trust. It is not our intention that the use of derivatives will significantly alter the overall risk profile of the Trust. A further risk exists in respect of the counterparty with whom the derivative transaction is made. Due care and diligence is exercised in the selection of counterparties, however, the possibility of the counterparty failing to pay sums due to the Trust still remains.
The Trust’s exposure to a single market may increase risk.
The Trust's risk is increased as it holds fewer investments than a typical investment trust and the effect of this, together with its long-term approach to investment, could result in large movements in the share price.
Charges to capital
The Trust charges 70% of the investment management fee and borrowing costs to capital which reduces the capital value. Also, where income is low, the remaining expenses may be greater than the total income received, meaning the Trust may not pay a dividend and the capital value would be further reduced.
Income is less important
The aim of the Trust is to achieve capital growth. You should not expect a significant, or steady, annual income from the Trust.
Shareholders in the Trust have the right to vote every five years, on whether to continue the Trust or wind it up. If the shareholders decide to wind the Trust up, the assets will be sold and you will receive a cash sum in relation to your shareholding. The next vote will be held at the Annual General Meeting in 2024.
You should note that tax rates and reliefs may change at any time and their value depends on your circumstances.
The Trust is listed on the London Stock Exchange and is not authorised or regulated by the Financial Conduct Authority.
Information subject to change
The information and opinions expressed within this website are subject to change without notice.
Not investment advice
This information has been issued and approved by Baillie Gifford & Co Limited and does not in any way constitute investment advice.
Suitability for retail distribution
Please note that the Company currently conducts its affairs, and intends to continue to conduct its affairs, so that the Company’s ordinary shares can be recommended by Independent Financial Advisers to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream pooled investment products (NMPI). The Company’s ordinary shares are excluded from the FCA’s restrictions which apply to non-mainstream pooled investment products because they are shares in an investment trust.
Source: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2019. FTSE Russell is a trading name of certain of the LSE Group companies. “FTSE®" and “Russell®” are trade marks of the relevant LSE Group companies and are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.