1. Sustainable Growth Fund

    Sustainable Growth Fund

  2. Overview

    To outperform (after deduction of costs) the MSCI ACWI Index, as stated in sterling, by at least 2% per annum over rolling five-year periods.

    The manager believes this is an appropriate target 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.

    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.

    Our purpose as sustainable growth investors is to integrate ESG and investment with an unashamedly optimistic mindset.

    Performance & Portfolio

    Performance & Portfolio

    Periodic Performance

    All figures to 31/03/2024

    6 Months

    1 Year

    3 Years

    5 Years

    Class B-Acc 15.4%12.5%-7.0%8.4%
    Index* 16.3%21.2%10.7%12.1%
    Target Benchmark** 17.5%23.6%12.9%14.4%
    Sector Average*** 15.2%16.7%7.2%10.2%
    Sector Ranking 273/555400/546468/474296/395

    Figures for 3 and 5 years are shown as the annualised rate of return. This is the average yearly return over the specified period.


    Annual Discrete Performance to 31 March each year

    Annual percentage return (Updated Quarterly)

    31/03/2019
    31/03/2020

    31/03/2020
    31/03/2021

    31/03/2021
    31/03/2022

    31/03/2022
    31/03/2023

    31/03/2023
    31/03/2024

    Class B-Acc 2.1%82.0%-13.1%-17.6%12.5%
    Index* -6.2%39.6%12.9%-0.9%21.2%
    Target Benchmark** -4.3%42.4%15.2%1.1%23.6%
    Sector Average*** -6.0%40.6%8.4%-2.7%16.7%

    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, Revolution, MSCI. Total return net of charges, in sterling.
    Share class returns calculated using 10am prices, while the Index is calculated close-to-close.
    *MSCI ACWI Index.
    **MSCI ACWI Index (in sterling) plus at least 2% per annum over rolling five-year periods.
    ***IA Global Sector.

    Top Ten Holdings - 31/03/2024

    Fund %
    1 TSMC 3.6%
    2 Illumina 3.6%
    3 MercadoLibre 3.4%
    4 Beijer, G & L AB 3.2%
    5 Atlas Copco 3.2%
    6 Mastercard 2.8%
    7 Alphabet 2.8%
    8 Recruit Holdings 2.8%
    9 Workday 2.7%
    10 UnitedHealth Group 2.6%
    Total 30.5%
    Geographic analysis of total assets - 31/03/2024

    Fund %

    • 1 North America 47.99
    • 2 Europe (ex UK) 23.88
    • 3 Emerging Markets 11.08
    • 4 Developed Asia Pacific 9.27
    • 5 UK 6.87
    • 6 Cash 0.91
    • Total 100.00

    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.

    Meet the Team

    Toby Ross

    Toby is an investment manager on the Sustainable Growth Team. He joined Baillie Gifford in 2006 and became a partner in the firm in 2023. Toby joined as an analyst on the UK equities team and went on to join the Global Income Growth Team as an investment manager in 2013, and in this role, he helped to develop the team’s approach to responsible investment. He became the joint manager of The Scottish American Investment Company PLC (SAINTS) in 2017. In 2022, Toby assumed the leadership of the Sustainable Growth Team. He graduated MA in English Literature from the University of Cambridge in 2006 and is a CFA Charterholder.

    Katherine Davidson

    Katherine is an investment manager on the Sustainable Growth Team. Before joining Baillie Gifford in September 2022, she had spent her investment career on the Global and International Equity Team at Schroders. Katherine joined the Schroders graduate scheme in 2008 and held various sector and fund responsibilities while developing a growing interest and expertise in sustainable investing. Katherine was instrumental in the development and management of Schroders’ Global Sustainable Growth Fund. She graduated with an MA in Philosophy, Politics and Economics from the University of Oxford in 2008 and is a CFA Charterholder.

    Craig Noble

    Craig is a senior sustainability analyst in the Sustainable Growth Team. He first joined Baillie Gifford in 2015 via the investment operations graduate scheme. As a dedicated sustainability analyst for the strategy, Craig has a particular interest in the opportunity side of sustainable investment and maintains a firm belief that ESG is a complex and nuanced area, which fits with his passion for in-depth research. Craig graduated with a BSc (Hons) in Business and an MSc in Finance, both from Lancaster University Management School.

    Laura Gonzalez-Salmeron

    Laura is an investment analyst in the Sustainable Growth Team. She joined Baillie Gifford in 2021, working as an analyst in the US Equities Team. Prior to joining the firm, she worked teaching Spanish Literature at the University of Oxford and Magdalen College School, while doing her doctoral research in Comparative Literature.

    Emily Gerard-Pearse

    Emily is a sustainability analyst in the Sustainable Growth Team. She joined Baillie Gifford in 2022. Prior to this, she worked for the consultancy firm Newton Europe for two and a half years. Emily received a BA in Biological Sciences from Oxford University.

    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.

    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.

    Responsible Investment

    The Fund invests according to responsible investment criteria and with reference to the ten principles of the United Nations Global Compact for business. This means the Fund will not invest in certain sectors and companies and, therefore, the universe of available investments will be more limited than other funds that do not apply such criteria/ exclusions. The Fund therefore may have different returns than a fund which has no such restrictions.

    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.

    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.

    Tax Rates

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