1. Overview

    The Trust aims to maximise capital growth over the long-term from investment primarily in shares of listed UK equities which have the potential to deliver a total return in excess of the FTSE All-Share Index.

    The portfolio is a high conviction, concentrated selection of our best ideas in the UK with a bias to mid and smaller cap growth companies, where we intuitively believe the growth spot for UK equities to be.

    Performance & Portfolio

    Periodic Performance

    All figures to 31/05/2022

    1 Year

    3 Years

    5 Years

    10 Years

    Share Price -31.7%-8.3%2.1%79.4%
    NAV -17.7%0.4%3.4%90.1%
    Index* 8.3%18.4%22.2%117.0%

    Performance figures appear in GBP. 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 All-Share (GBP) 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

    Annual Performance to 31 March each year

    31/03/2017
    31/03/2018

    31/03/2018
    31/03/2019

    31/03/2019
    31/03/2020

    31/03/2020
    31/03/2021

    31/03/2021
    31/03/2022

    Share Price 1.6%7.7%-13.9%57.4%-18.8%
    NAV -0.2%2.1%-13.8%43.7%-9.5%
    Index* 1.3%6.4%-18.5%26.7%13.0%

    Performance figures appear in GBP. 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 All-Share (GBP) 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 - 31/05/2022

    Performance figures appear in GBP. Baillie Gifford took over the management of the Trust in July 2018.
    The value of your investment may go down as well as up, and you may not get back the amount you invested.
    Benchmark data is limited to a 5 year period from the current date.
    The graph has been rebased to 100.
    Baillie Gifford took over the management of the Trust in July 2018.
    Please bear in mind that past performance is not a guide to future performance.

    31/05/2021

    Relative to FTSE All-Share Index, total return. Source: Baillie Gifford & Co, FTSE.

    Holdings - 31/05/2022

    Fund %
    1 St. James's Place 4.6%
    2 Volution Group 4.3%
    3 Auto Trader 4.2%
    4 Games Workshop 3.6%
    5 RELX 3.6%
    6 Diageo 3.5%
    7 Bunzl 3.3%
    8 Abcam 3.3%
    9 Ashtead 3.3%
    10 Howden Joinery 3.3%
    Total 37.1%

    Meet the Managers

    Iain McCombie

    Iain is the co-lead Manager on our flagship Managed Fund, where he has been involved since 2000. He is the lead Manager of our UK Core Strategy and became a Partner of the firm in 2005. Since joining Baillie Gifford in 1994, Iain has also spent time in the US Equities Team. His knowledge and experience as a stock picker is a valuable input into our Global Stewardship equity Strategy. Iain graduated MA in Accountancy from the University of Aberdeen and subsequently qualified as a Chartered Accountant.

    Milena Mileva

    Milena joined Baillie Gifford in 2009 and is an Investment Manager in the UK Equity Team. She graduated BA in Social & Political Science from the University of Cambridge in 2007 and MPhil in Politics from the University of Oxford in 2009.

    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.

    Investment Intelligence

    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.