Overview
The Global Income Growth Fund aims to achieve (after deduction of costs) growth in both income and capital over rolling five-year periods, whilst delivering a yield higher than that of the MSCI ACWI Index over rolling five-year periods. There is no guarantee that this objective will be achieved over any time period and actual investment returns may differ from this objective, particularly over shorter time periods.
The manager believes this is an appropriate benchmark given the investment policy of the Fund and the approach taken by the manager when investing. In addition, the manager believes an appropriate performance comparison for this Fund is the Investment Association Global Equity Income Sector.
Our Global Income Growth Fund invests in companies which have durable competitive advantages and attractive growth opportunities.
Performance & Portfolio
Periodic Performance
All figures to 31/10/2022 6 Months
1 Year
3 Years
5 Years
Class B-Inc -4.1% -2.9% 9.0% 8.7% Index* -1.0% -4.3% 9.5% 8.8% Target Benchmark** -1.0% -4.3% 9.5% 8.8% Sector Average*** -2.7% 0.7% 6.7% 5.9% Sector Ranking 40/55 41/54 9/50 8/45
Annual Discrete Performance to 30 September each year
Annual percentage return (Updated Quarterly) 30/09/2017
30/09/201830/09/2018
30/09/201930/09/2019
30/09/202030/09/2020
30/09/202130/09/2021
30/09/2022Class B-Inc 10.1% 11.5% 9.8% 18.8% -1.4% Index* 13.5% 7.9% 5.8% 22.7% -3.7% Target Benchmark** 13.5% 7.9% 5.7% 22.7% -3.7% Sector Average*** 7.0% 7.0% -3.9% 21.6% -0.6% Please bear in mind that past performance is not a guide to future performance.
The value of your investment may go down as well as up, and you may not get back the amount you invested.
Performance source: FE, StatPro, MSCI, total return in sterling.
*MSCI ACWI Index.
**IA Global Equity Income Sector.Figures for 3 and 5 years show the annual rate of return.
Performance - 31/10/2022The value of your investment may go down as well as up, and you may not get back the amount you invested.
*FTSE All World Index (25% FTSE All Share / 75% FTSE All World ex UK prior to 31 May 2012).
Source: FE and relevant underlying index provider(s), single pricing basis, total return.
Please bear in mind that past performance is not a guide to future performance.
The graph is rebased to 100.Top Ten Holdings - 31/10/2022
Fund % 1 Novo Nordisk 4.2% 2 United Parcel Service 3.5% 3 PepsiCo 3.4% 4 Fastenal 3.3% 5 Procter & Gamble 3.2% 6 Microsoft 3.1% 7 Watsco 3.1% 8 Roche 3.1% 9 Apple 2.7% 10 Sonic Healthcare 2.6% Total 32.3% SECTOR ANALYSIS OF TOTAL ASSETS - 31/10/2022Fund %
- 1 Industrials 21.18
- 2 Information Technology 19.69
- 3 Consumer Staples 16.38
- 4 Financials 15.45
- 5 Health Care 11.70
- 6 Consumer Discretionary 8.02
- 7 Materials 3.49
- 8 Communication Services 3.42
- 9 Utilities 1.21
- 10 Cash -0.52
- Total 100.0
Cash - this figure excludes revenue cash.
As the Fund invests in overseas securities, changes in the rates of exchange may 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.Insights
View all Insights.Meet the Managers
James Dow
James was appointed Co-Head of the Global Income Growth Team and Co-Manager of The Scottish American Investment Company PLC (SAINTS) in 2017. He joined Baillie Gifford in 2004 on the Graduate Scheme and became an Investment Manager in our US Equities team. Previously, James spent three years working at The Scotsman newspaper, where he was the Economics Editor. He is a CFA Charterholder, graduated MA (Hons) in Economics-Philosophy from the University of St Andrews in 2000 and MSc in Development Studies from the London School of Economics in 2001.
Toby Ross
Toby joined Baillie Gifford in 2006 and is Co-Head of the Global Income Growth Team and Joint Manager of The Scottish American Investment Company PLC (SAINTS). He has also been a member of the International Alpha Portfolio Construction Group since 2018. Since joining Baillie Gifford, Toby has also spent time as an Investment Analyst in the UK Equity Team and as a Global Sector Specialist. He graduated MA in English Literature from the University of Cambridge in 2006 and is a CFA Charterholder.
Ross Mathison
Ross joined Baillie Gifford in 2019 as an Investment Manager in the Global Income Growth Team. Previously, he had spent a year at Aviva Investors and prior to that 9 years at Standard Life Investments as an Investment Manager, first in the European Equity team and latterly in the Global Equity team. Ross is a CFA Charterholder and graduated MA (Hons) in Business & Finance from Heriot-Watt University in 2008. Ross also sits on the Board of Directors at Aberlour, a Scottish Children’s charity.
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.
Please note that we do not have the facility for you to invest directly with us in our Investment Trusts and we do not offer ISAs, SIPPS or Share Plans.
Please also note that we do not have an online service for individual investors.
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
Documents
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.
Application Forms
Bulletins and Factsheets
Enhanced Disclosure Document
Fund Ratings Reports
Key Investor Information Documents
Press Releases
Value Assessment
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.
Custody
Custody of assets involves a risk of loss if a custodian becomes insolvent or breaches duties of care.
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.
Emerging Markets
The Fund invests in emerging markets where difficulties in dealing, settlement and custody could arise, resulting in a negative impact on the value of your investment.
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.
Dilution
A dilution adjustment may apply when you buy or sell shares in the Fund. This is applied to the share price and may reduce the return on your investment.
Fees to Capital
For distribution purposes the Authorised Corporate Director (ACD) has the facility to allocate some or all expenses to capital. This will reduce the capital value of the Fund. For the year to 31 January 2020 91% of expenses were allocated to capital. The figure for the current financial period has not yet been determined however this number will vary from year to year.
Tax Rates
Tax rates and the tax treatment of OEICs can change at any time.
