EDINBURGH WORLDWIDE INVESTMENT TRUSTEDINBURGH WORLDWIDE INVESTMENT TRUST
Edinburgh Worldwide aims for capital growth from a global portfolio of initially immature entrepreneurial companies, typically with a market capitalisation of less than $5bn at time of initial investment, which are believed to offer long-term growth potential.
While the policy is global investment, the approach adopted is to construct a portfolio through the identification of individual companies which offer long-term growth potential.
Performance & Portfolio
All figures to 31/10/2020
Share Price 63.9% 108.2% 228.2% 438.5% NAV 57.8% 94.7% 202.5% 360.5% Index* 0.4% 7.8% 64.0% 142.2%
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.
*Changed from MSCI AC World to S&P Global Small Cap on 01/02/2014. Data chain-linked from this date to form a single index.
Performance source: Morningstar and relevant underlying index provider(s), total return.
Please bear in mind that past performance is not a guide to future performance.
Annual Performance to 30 September each year
Share Price 14.8% 32.0% 50.6% -6.3% 58.7% NAV 24.8% 24.8% 37.1% -5.7% 58.3% Index* 32.8% 16.0% 11.8% 0.6% -1.4%Performance - 31/10/2020The value of your investment may go down as well as up, and you may not get back the amount you invested.
Comparative Index is limited to a 5 year period from the current date.
Comparative Index changed from MSCI All Countries World Index on 01/02/2014 to S&P Global Small Cap Index. In the above graph the indices have been chain-linked to form a single index.
The graph has been rebased to 100.
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 - 31/10/2020The 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 - 31/10/2020
Fund % 1 Tesla Inc 4.9% 2 Ocado 4.8% 3 MarketAxess 4.5% 4 Zillow 3.8% 5 Chegg 3.2% 6 Alnylam Pharmaceuticals 3.1% 7 Novocure 2.8% 8 Teladoc 2.5% 9 LendingTree 2.4% 10 STAAR Surgical 2.1% Total 34.1%All holdings of 0.7% and above Fund % 1 Tesla Inc 4.9% 2 Ocado 4.8% 3 MarketAxess 4.5% 4 Zillow 3.8% 5 Chegg 3.2% 6 Alnylam Pharmaceuticals 3.1% 7 Novocure 2.8% 8 Teladoc 2.5% 9 LendingTree 2.4% 10 STAAR Surgical 2.1% Total 34.1%Geographical analysis of total assets - 31/10/2020As the Fund invests in overseas securities, changes in the rates of exchange may also cause the value of your investment (and any income it may pay) to go down or up.
The information contained on this page is intended as a guide only and should not be relied upon when making investment decisions. All holdings information is unaudited. Source Baillie Gifford & Co.
Please note that totals may not add due to rounding.Unfortunately we were unable to load the chart. Please try again later.
InsightsView all Insights.ARCHIVEDSecond Quarter 2019
Edinburgh Worldwide Investment Trust - Manager Update - Part 1.
Douglas Brodie, portfolio manager of Edinburgh Worldwide Investment Trust, discusses the philosophy that underpins the strategy and the ways in which the team identifies smaller companies with growth potential.ARCHIVEDSecond Quarter 2019
Edinburgh Worldwide Investment Trust - Manager Update - Part 2.
Douglas Brodie, portfolio manager of Edinburgh Worldwide Investment Trust, discusses the philosophy that underpins the strategy and the ways in which the team identifies smaller companies with growth potential.ARCHIVEDSecond Quarter 2017
The Technological Revolution.
Technological evolution continues to occur at an ever-increasing pace. Douglas Brodie looks at some of the areas likely to see the greatest change in the coming years, and the investment opportunities that will open up as a result.
View all Insights.
Meet the Managers
Douglas Brodie - Manager
Douglas joined Baillie Gifford in 2001 and is Head of the Global Discovery Team. Douglas became a Partner in 2015 and is a CFA Charterholder. He graduated BSc in Molecular Biology & Biochemistry from the University of Durham in 1997 and attained a DPhil in Molecular Immunology from the University of Oxford in 2001.
Svetlana Viteva - Deputy Manager
Svetlana joined Baillie Gifford in 2012 and is an Investment Manager in the Global Discovery Team. She is a CFA Charterholder. Svetlana is also a Deputy Manager of our global small cap investment trust, Edinburgh Worldwide Investment Trust. She graduated BA in Economics and BA in Business Administration from the American University in Bulgaria in 2008, MSc in Investment Analysis in 2009 and PhD in Accounting and Finance in 2012, both from the University of Stirling.
Luke Ward - Deputy Manager
Luke joined Baillie Gifford in 2012 and is an Investment Manager in the Global Discovery Team. He is a Deputy Manager of our Global small cap investment trust, Edinburgh Worldwide Investment Trust. Luke graduated MEng (Hons) in Mechanical Engineering from the University of Edinburgh in 2012.
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.
Fund Ratings Reports
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 invests in overseas securities. Changes in the rates of exchange may also cause the value of your investment (and any income it may pay) to go down or up.
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.
Smaller Immature Companies
Investment in smaller, immature companies is generally considered higher risk as changes in their share prices may be greater and the shares may be harder to sell. Smaller, immature companies may do less well in periods of unfavourable economic conditions.
The Trust's risk could be increased by its investment in private companies. These assets may be more difficult to buy or sell, so changes in their prices may be greater.
Charges to capital
The Trust charges 75% 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.
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: MSCI. The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information 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. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an ‘as is’ basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the ‘MSCI Parties’) expressly disclaims all warranties (including, without limitation, any warranties or originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages (www.msci.com)
S&P DOW JONES DISCLAIMER
The S&P Global Small Cap Index (“Index”) is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates (“SPDJI”). Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC, a division of S&P Global (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.