1. Overview

    The Long Term Global Growth Investment Fund aims to outperform (after deduction of costs) the FTSE All World Index, as stated in Sterling, by at least 2.5% per annum 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 Sector.

    At Baillie Gifford, we ask ourselves one important question: ‘Where are the most exciting investment opportunities over the long term going to be?

    Performance & Portfolio

    Periodic Performance

    All figures to 31/10/2021

    6 Months

    1 Year

    3 Years

    Since Inception

    Class B-Acc 10.5%24.5%41.3%32.6%
    Index* 8.1%29.9%15.2%11.9%
    Target Benchmark** 9.5%33.2%18.1%14.7%
    Sector Average*** 7.0%28.6%15.3%11.6%

    Annual Discrete Performance to 30 September each year

    Annual percentage return (Updated Quarterly)

    30/09/2016
    30/09/2017

    30/09/2017
    30/09/2018

    30/09/2018
    30/09/2019

    30/09/2019
    30/09/2020

    30/09/2020
    30/09/2021

    Class B-Acc n/a29.8%-1.8%93.9%21.3%
    Index* n/a13.4%7.8%5.7%22.7%
    Target Benchmark** n/a16.2%10.5%8.3%25.7%
    Sector Average*** n/a11.6%6.0%7.2%23.2%

    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 and relevant underlying index provider, single pricing basis, total return.

    Returns reflect the annual charges but exclude any initial charge paid.

    *FTSE All-World Index.

    **FTSE All-World Index +2.5%.

    ***IA Global Sector.

    Performance - 31/10/2021

    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.
    Source: FE and relevant underlying index provider, single pricing basis, total return.
    The graph is rebased to 100.

    Top Ten Holdings - 31/10/2021

    Fund %
    1 Tesla Inc 6.1%
    2 Moderna 5.1%
    3 Amazon.com 4.9%
    4 NVIDIA 4.8%
    5 Meituan 4.2%
    6 ASML 4.1%
    7 Cloudflare 3.8%
    8 Illumina 3.8%
    9 Netflix 3.8%
    10 Dexcom 3.7%
    Total 44.4%
    Geographic Analysis of Total Assets 31/10/2021

    Fund %

    • 1 North America 59.74
    • 2 Emerging Markets 21.63
    • 3 Europe (ex UK) 17.54
    • 4 Cash 1.09
    • Total 100.0

    Total may not sum due to rounding.

    Meet the Managers

    Mark Urquhart

    Mark is a Senior Investment Manager in our Long Term Global Growth Team, a strategy which he co-founded in 2003. Mark joined Baillie Gifford in 1996, initially working as an Investment Analyst and Manager in the US, UK and Japanese Equities Teams. He became a Partner in 2004. Mark graduated BA in Philosophy, Politics and Economics from the University of Oxford in 1992 and spent a year at Harvard as a Kennedy Scholar in 1993 before completing a PhD in Politics at the University of Edinburgh in 1996.

    Tom Slater - Manager

    Tom is Head of the US Equities Team and is a Decision Maker on Long Term Global Growth Portfolios. He joined Baillie Gifford in 2000 and became a Partner of the firm in 2012. After serving as Deputy Manager for five years, Tom was appointed Joint Manager of Scottish Mortgage Investment Trust in 2015. During his time at Baillie Gifford he has also worked in the Developed Asia and UK Equity Teams. Tom’s investment interest is focused on high growth companies both in listed equity markets and as an investor in private companies. He graduated BSc in Computer Science with Mathematics from the University of Edinburgh in 2000.

    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). Please note that, due to current government restrictions, we have a limited number of staff in our office. As a result, if posting instructions to us, there may be a delay in processing these due to these current restrictions.

    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.

    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.

    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.

    Concentration

    The Fund’s concentrated portfolio relative to similar funds may result in large movements in the share price in the short term.

    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.

    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 from Revenue

    Where possible, charges are taken from the Fund's revenue. Where there is insufficient revenue, the remainder will be taken from capital. This will reduce the capital value of your investment.

    Tax Rates

    Tax rates and the tax treatment of OEICs can change at any time.