Edinburgh Worldwide Investment Trust | Long Term Growth Potential In Immature Entrepreneurial Companies | Baillie Gifford

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EDINBURGH WORLDWIDE INVESTMENT TRUST PLC

Growth companies shaping our tomorrow.

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. The value of investments and any income from them may go down as well as up and you or your client may not get back the amount originally invested.

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Five for one sub-division of ordinary shares

Please note that the number of shares held by each investor has increased five fold and the share price has reduced to one fifth of its prior amount, resulting in no change to the aggregate value of any holding.

Shareholders approved an ordinary resolution at the Annual General Meeting held on 23 January 2019 that each of the ordinary shares of 5p each in the capital of the Company be subdivided into five ordinary shares of 1p each (the ‘New Ordinary Shares’), the New Ordinary Shares having the rights and being subject to the restrictions set out in the Articles of Association of the Company. The New Ordinary Shares were admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s market for listed securities from 8.00am on 28 January 2019. Accordingly the 57,389,739 ordinary shares of 5p in issue as at 23 January 2019 have been sub-divided into 286,948,695 ordinary shares of 1p.

The Company’s new International Securities Identification Number (ISIN) is GB00BHSRZC82.
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Insights

Electric Medicine.

The oncology firm Novocure is extending survival rates by attacking brain cancer with electric fields. Svetlana Viteva, deputy manager of Edinburgh Worldwide Investment Trust, talks to Linda Geddes about the implications.

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Podcast

Episode 6 - Space: The Final Investment Frontier.

Fifty years on from the first moon landing, entrepreneurs on the west coast of America are stepping up spending on space. To discuss how this new space race might impact investment, Malcolm Borthwick is joined by Luke Ward – space enthusiast and deputy manager of Edinburgh Worldwide Investment Trust and the Global Discovery Fund.

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Watch

Insights

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.

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Watch

Insights

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.

Watch

Baillie Gifford – coronavirus update

At Baillie Gifford we are watching unfolding events concerning Coronavirus closely and following the advice of health authorities. Our primary aims are two-fold: firstly, to ensure the health and wellbeing of our staff and others, and secondly to continue to serve our clients well during these unprecedented times. Our thoughts are with everyone who is affected by the spread of the virus, and we know that with schools closing and travel severely restricted many people are juggling home and work responsibilities. Please be reassured that though our working patterns have hugely changed, we are continuing to focus on clients and in all material respects are functioning relatively normally.

The firm has well-tested contingency plans which we have put into action. Given the most up to date UK government advice, virtually all of our staff are now working from home and we have stopped receiving visitors to our Edinburgh office. The firm has technology, systems and policies in place to ensure that we remain fully functional while working in dispersed locations, and should this situation persist for an extended period we are fully capable of continuing business as usual. Clients’ investments are being managed as normal by our investment team and our client service and other staff are available via email and telephone, as well as on networks such as MS Teams and Zoom. We continue to research stocks and have the capability to make transactions to facilitate client cashflows and business-as-usual investment decisions. Business travel has completely stopped for the time being and we are looking to hold external meetings by video and conference call wherever possible.

Most overseas offices in Europe and the Americas have also closed and staff are working from home. On a brighter note, our Shanghai office has re-opened, as Coronavirus spread there has slowed.

It is important during times of extreme market volatility to remember that investing is a long-term activity. History indicates that acting hastily in the midst of a crisis is typically unhelpful, and we would encourage all investors to step back and maintain perspective. When we invest on behalf of clients, it is with a five-year view of the opportunities that a company has to grow. Clearly, many such companies will be impacted in the near term by the abrupt economic slowdown which is unfolding, and stock markets have factored this heavily into prices. However, our view is that such selling has been relatively indiscriminate and driven by fear rather than long-term fundamentals. Companies with growing opportunities, competitive advantages and strong balance sheets are not only well placed to survive short-term pressures, but should resume their positive trends when the current crisis is over. We have therefore made few changes to client portfolios during this period of uncertainty, and are considering opportunities to add to holdings in companies we admire at depressed prices. In recent years there has been a growing focus amongst investors and the public on the benefits of companies acting responsibly towards all stakeholders, including employees and customers as well as shareholders. We will learn much about their commitment to such concepts in coming weeks.

Baillie Gifford itself has no short-term pressures. We have no outside shareholders, and the Partners in the firm are committed to seeing through the current challenges without making any material changes to our own firm. We will continue to put staff and client interests foremost, even as we adapt to our new, temporary, reality. If you have any specific concerns, please get in touch with your usual contacts here at Baillie Gifford or with your financial adviser.

Baillie Gifford & Co
24 March 2020

Growth companies shaping our tomorrow.

Five for one sub-division of ordinary shares