MONKS INVESTMENT TRUSTMONKS INVESTMENT TRUST
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.
Performance & Portfolio
Annual Performance to 30 June each year
Share Price 3.2% 59.9% 22.1% 9.5% 15.3% NAV 9.9% 35.6% 17.7% 9.7% 17.0% Index* 14.6% 22.9% 9.4% 10.4% 5.8%
All figures to 31/08/2020
Share Price 24.9% 61.4% 196.8% 312.4% NAV 24.5% 52.5% 152.3% 238.7% Index* 6.2% 26.9% 91.7% 218.1%
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.Performance - 31/08/2020The 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 - 31/08/2020The 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 - 31/08/2020
Fund % 1 Amazon.com 4.3% 2 Tesla Inc 2.9% 3 Naspers 2.7% 4 Alphabet 2.5% 5 Alibaba 2.4% 6 Moody's 2.1% 7 Microsoft 2.0% 8 Mastercard 2.0% 9 Shopify 1.8% 10 SoftBank 1.8% 11 The Schiehallion Fund Limited 1.7% 12 Prudential 1.7% 13 AIA 1.7% 14 Meituan Dianping 1.6% 15 Anthem 1.6% 16 Olympus 1.5% 17 SAP 1.5% 18 Thermo Fisher Scientific 1.5% 19 1.4% 20 SEA Limited 1.4% 21 Pernod Ricard 1.4% 22 Ping An Insurance 1.2% 23 AJ Gallagher 1.2% 24 CRH 1.1% 25 Zillow 1.1% 26 TSMC 1.1% 27 Reliance Industries 1.0% 28 Teladoc 1.0% 29 Prosus 1.0% 30 Trupanion 1.0% 31 Martin Marietta Materials 1.0% 32 ResMed 1.0% 33 Farfetch 0.9% 34 BHP Group 0.9% 35 Visa 0.9% 36 Booking Holdings 0.9% 37 Estee Lauder 0.9% 38 adidas 0.9% 39 Sysmex 0.9% 40 Alnylam Pharmaceuticals 0.8% 41 Ryanair 0.8% 42 Broadridge Financial Solutions 0.8% 43 HDFC 0.8% 44 MercadoLibre 0.8% 45 MS&AD Insurance 0.8% 46 Teradyne 0.8% 47 The Trade Desk 0.8% 48 Lemonade 0.8% 49 Spotify 0.7% 50 SMC 0.7% 51 Illumina 0.7% 52 Service Corporation International 0.7% 53 M3 0.7% 54 Seattle Genetics 0.7% 55 Markel 0.7% Total 24.6%All holdings of 0.7% and above Fund % 1 Amazon.com 4.3% 2 Tesla Inc 2.9% 3 Naspers 2.7% 4 Alphabet 2.5% 5 Alibaba 2.4% 6 Moody's 2.1% 7 Microsoft 2.0% 8 Mastercard 2.0% 9 Shopify 1.8% 10 SoftBank 1.8% 11 The Schiehallion Fund Limited 1.7% 12 Prudential 1.7% 13 AIA 1.7% 14 Meituan Dianping 1.6% 15 Anthem 1.6% 16 Olympus 1.5% 17 SAP 1.5% 18 Thermo Fisher Scientific 1.5% 19 1.4% 20 SEA Limited 1.4% 21 Pernod Ricard 1.4% 22 Ping An Insurance 1.2% 23 AJ Gallagher 1.2% 24 CRH 1.1% 25 Zillow 1.1% 26 TSMC 1.1% 27 Reliance Industries 1.0% 28 Teladoc 1.0% 29 Prosus 1.0% 30 Trupanion 1.0% 31 Martin Marietta Materials 1.0% 32 ResMed 1.0% 33 Farfetch 0.9% 34 BHP Group 0.9% 35 Visa 0.9% 36 Booking Holdings 0.9% 37 Estee Lauder 0.9% 38 adidas 0.9% 39 Sysmex 0.9% 40 Alnylam Pharmaceuticals 0.8% 41 Ryanair 0.8% 42 Broadridge Financial Solutions 0.8% 43 HDFC 0.8% 44 MercadoLibre 0.8% 45 MS&AD Insurance 0.8% 46 Teradyne 0.8% 47 The Trade Desk 0.8% 48 Lemonade 0.8% 49 Spotify 0.7% 50 SMC 0.7% 51 Illumina 0.7% 52 Service Corporation International 0.7% 53 M3 0.7% 54 Seattle Genetics 0.7% 55 Markel 0.7% Total 72.0%Geographical analysis of total assets - 31/08/2020Unfortunately we were unable to load the chart. Please try again later.Active Share - 31/08/2020Relative to FTSE World Index. Source: Baillie Gifford & Co, FTSE.Unfortunately we were unable to load the chart. Please try again later.
InsightsAll insightsSeptember 2020
The Monks Investment Trust PLC – Manager Update.
Jon Henry, client director, talks to Charles Plowden and Spencer Adair, investment managers on the Global Alpha Team, about their investment approach, the performance of Monks, how the Trust is positioned and what we are excited about moving forward.June 2020
Monks – Long-Term Stewards.
Charles Plowden explains how long-term stewardship is one of the four golden threads that weaves together to form the Monks investment strategy.April 2020
A Capital Idea for Growth.
Monks is firmly convinced that the only way to deliver superior investment returns for shareholders is to ignore the short-term whims of the market and focus instead on committing capital for long periods of time.April 2020
The Monks Investment Trust PLC – Manager Insights.
Jon Henry, product specialist, gives an update on The Monks Investment Trust PLC and how the portfolio is positioned in the current climate.February 2020
Reasons to be optimistic about emerging markets
Investing in emerging markets is like Marmite. It divides opinion. Charles Plowden explains why he’s a fan in Baillie Gifford’s podcast Short Briefings on Long Term Thinking.February 2020
Monks Research Agenda.
With their curiosity for learning undiminished, Monks’ investment managers share where they think their quest for learning will take them in the year ahead.Fourth Quarter 2019
Monks - Embracing the Asymmetry of Returns.
Embracing asymmetry is one of the four golden threads that weaves together to form the Global Alpha strategy.Third Quarter 2019
The extraordinary expansion of Asia’s middle class is turbocharging demand for products that provide a sense of security. Charles Plowden, manager of Monks Investment Trust tells Colin Donald why the region’s life insurance giants are well placed to reap the rewards.Third Quarter 2019
The Virtual Tutor.
From textbook rental to digital teaching, Chegg is disrupting higher education, as Malcolm MacColl joint deputy manager of Monks Investment Trust reports.2019
Monks Stewardship Report 2019.
Monks’ investment process focuses on the long-term ownership of growing businesses. We encourage these companies to invest in growth opportunities and ignore the short-term pressures of the market. In the following report, we set out our approach to stewardship and explain how it fits with our investment style.
View all Insights.
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
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 invests in emerging markets where difficulties in dealing, settlement and custody could arise, resulting in a negative impact on the value of your investment.
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.
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.
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: 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.