1. Overview

    Monks Investment Trust aims for long-term capital growth which takes priority over income. This is pursued through applying a patient approach to investment, principally from a differentiated, actively managed global equity portfolio containing a diversified range of growth stocks.

    We are drawn to businesses addressing a particular ‘crisis’ in a novel manner which can help to reduce costs and/or produce a radically improved quality of service.

    Malcolm MacColl

    Performance & Portfolio

    Periodic Performance

    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 World 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.


    Discrete Performance

    Performance - 30/09/2020
    The value of your investment may go down as well as up, and you may not get back the amount you invested.
    Comparative index data is limited to a 5 year period from the current date.
    The graph is 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 - 30/09/2020
    The 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 - 30/09/2020

    Fund %
    1 Amazon.com 2.7%
    2 Naspers 2.7%
    3 Alibaba 2.5%
    4 Alphabet 2.3%
    5 Moody's 2.1%
    6 Microsoft 1.9%
    7 Mastercard 1.9%
    8 Shopify 1.8%
    9 SoftBank 1.8%
    10 The Schiehallion Fund Limited 1.8%
    Total 21.6%
    All holdings of 0.7% and above
    Fund %
    1 Amazon.com 2.7%
    2 Naspers 2.7%
    3 Alibaba 2.5%
    4 Alphabet 2.3%
    5 Moody's 2.1%
    6 Microsoft 1.9%
    7 Mastercard 1.9%
    8 Shopify 1.8%
    9 SoftBank 1.8%
    10 The Schiehallion Fund Limited 1.8%
    11 AIA 1.6%
    12 Ryanair 1.6%
    13 Meituan Dianping 1.6%
    14 Olympus 1.6%
    15 Anthem 1.6%
    16 Prudential 1.6%
    17 Thermo Fisher Scientific 1.5%
    18 SAP 1.4%
    19 SEA Limited 1.4%
    20 Tesla Inc 1.4%
    21 Zillow 1.4%
    22 Facebook 1.3%
    23 Pernod Ricard 1.3%
    24 Trupanion 1.2%
    25 AJ Gallagher 1.2%
    26 Ping An Insurance 1.2%
    27 TSMC 1.2%
    28 Martin Marietta Materials 1.1%
    29 Reliance Industries 1.1%
    30 CRH 1.1%
    31 Teladoc 1.1%
    32 adidas 1.0%
    33 Estee Lauder 1.0%
    34 Prosus 1.0%
    35 Sysmex 1.0%
    36 Alnylam Pharmaceuticals 1.0%
    37 Rio Tinto 0.9%
    38 ResMed 0.9%
    39 Seattle Genetics 0.9%
    40 BHP Group 0.9%
    41 Farfetch 0.9%
    42 Booking Holdings 0.9%
    43 The Trade Desk 0.8%
    44 Broadridge Financial Solutions 0.8%
    45 HDFC 0.8%
    46 M3 0.8%
    47 MS&AD Insurance 0.8%
    48 SMC 0.8%
    49 MercadoLibre 0.7%
    50 Teradyne 0.7%
    51 Atlas Copco 0.7%
    Total 67.4%
    Geographical analysis of total assets - 30/09/2020
    As 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.
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    Active Share - 30/09/2020
    Relative to FTSE World Index. Source: Baillie Gifford & Co, FTSE.
    Unfortunately we were unable to load the chart. Please try again later.

    Meet the Managers

    Charles Plowden - Manager

    Since the inception of Global Alpha in 2005, Mr. Plowden has been one of the three portfolio managers for the strategy. After becoming a Partner in 1988, he became Joint Senior Partner with overall responsibility for the investment departments in 2006. Mr. Plowden is also Chair of the Strategic Leadership Group. He joined Baillie Gifford in 1983 and was a portfolio manager in the UK Equity Team for over 20 years notably developing Baillie Gifford’s specialist UK capabilities, and was latterly head of the team. Charles graduated BA in Modern History from the University of Oxford in 1983.

    Mr. Plowden is expected to retire from the Manager and cease to serve as Portfolio Manager for the Fund effective on or about April 30, 2021.

    Spencer Adair - Deputy Manager

    Spencer joined Baillie Gifford in 2000 and is an Investment Manager in the Global Alpha Team. He became a Partner in 2013 and has also spent time working in the Fixed Income, Japanese, European and UK Equity Teams. Spencer graduated BSc in Medicine from the University of St Andrews in 1997, followed by two years of clinical training in Edinburgh.

    Malcolm MacColl - Deputy Manager

    Malcolm is an Investment Manager in the Global Alpha Team, having been involved with Global Alpha since the product’s inception in 2005. He became a Partner of the firm in 2011. Malcolm joined Baillie Gifford in 1999 and has spent time working in the UK Small Cap and North American Teams. He is a member of the UK Society of Investment Professionals. Malcolm graduated MA in Economics and History in 1998 and MLitt in Economics, Politics and Management in 1999, both from the University of St Andrews.

    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

    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.

    Fund Ratings Reports

    Investment Intelligence

    Investor Disclosure Document

    Key Information Document

    Risks

    Any investment in an investment trust involves risk. You should be aware of the following risks when considering investing.


    Past performance

    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.

    Overseas investment

    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.

    Emerging Markets

    The Trust invests in emerging markets where difficulties in dealing, settlement and custody could arise, resulting in a negative impact on the value of your investment.

    Gearing

    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.

    Share buy-backs

    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.

    Liquidity

    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.

    Derivatives

    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.

    Charges to income

    Charges are deducted from income. Where income is low, the expenses may be greater than the total income received, meaning the Trust may not pay a dividend and the capital value would be 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.

    Tax Rates

    You should note that tax rates and reliefs may change at any time and their value depends on your circumstances.

    Regulation

    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.

    Disclaimers

    FTSE Disclaimer

    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.