GLOBAL ALPHA GROWTH FUNDGLOBAL ALPHA GROWTH FUND
The Global Alpha Growth Fund aims 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. 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.
Our Global Alpha investment managers draw on the broad capabilities of our 100 research analysts and insights of the Baillie Gifford investment teams.
Performance & PortfolioPeriodic PerformanceAll figures to 31/03/2021
6 Months 1 Year 3 Years 5 Years Class B-Acc 12.5% 52.7% 18.6% 20.2% Index* 12.6% 39.6% 13.3% 14.7% Target Benchmark** 13.7% 42.4% 15.5% 17.0%Annual Discrete Performance figures to 31 March each yearAnnual percentage return (Updated Quarterly) 31/03/2016
Class B-Acc 35.3% 11.2% 9.1% 0.3% 52.7% Index* 33.0% 2.9% 11.1% -6.2% 39.6% Target Benchmark** 35.6% 5.0% 13.3% -4.3% 42.4% Sector Average*** 28.6% 2.7% 9.0% -6.0% 40.6%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.
*MSCI AC World Index.
**MSCI AC World Index +2%.
***IA Global Sector.Performance - 31/03/2021The 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.
Please bear in mind that past performance is not a guide to future performance.
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Top Ten Holdings - 31/03/2021
Fund % 1 Naspers 3.5% 2 Amazon.com 2.6% 3 Moody's 2.3% 4 Prudential 2.3% 5 Microsoft 2.1% 6 TSMC 2.1% 7 Mastercard 2.1% 8 Ryanair 2.1% 9 SEA Limited 2.1% 10 Alphabet 2.0% Total 23.3% Fund % 1 Naspers 3.5% 2 Amazon.com 2.6% 3 Moody's 2.3% 4 Prudential 2.3% 5 Microsoft 2.1% 6 TSMC 2.1% 7 Mastercard 2.1% 8 Ryanair 2.1% 9 SEA Limited 2.1% 10 Alphabet 2.0% Total 23.3%GEOGRAPHIC ANALYSIS OF TOTAL ASSETS - 31/03/2021As 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.Unfortunately we were unable to load the chart. Please try again later.
InsightsAll InsightsMarch 2021
The Importance Of Looking Forward.
This recording has been prepared for professional investors and is not for further distribution. Baillie Gifford takes no responsibility for the reliance on this recording by any other person who did not receive this recording from Baillie Gifford.2021
Global Alpha Research Agenda.
In this year’s Research Agenda, Global Alpha’s investment managers share their thoughts on how change can help shape the portfolio.2020
Global Alpha Stewardship Report.
Our goal as investors is the identification and nurturing of companies capable of outstanding long-term returns. The excellent studies of Professor Hank Bessembinder and others make clear that long-run wealth creation is dominated by a remarkably small number of extraordinary companies, often powering technological or societal change.Autumn 2020
The Rise of Reliance.
Baillie Gifford’s Charles Plowden, co-manager of Global Alpha, hails a firm whose ambitions match the vastness of the subcontinent of India.November 2020
Global Alpha – Mental Models Highlights.
Client director Jon Henry talks through the highlights of the recent Global Alpha webinar on ‘Mental Models’, a concept introduced earlier this year in the Global Alpha Research Agenda. In this webinar, client director Ben Drury talked to Global Alpha investment managers Helen Xiong and Malcolm MacColl about mental models and how they are incorporated into the team’s investment research process.September 2020
Staying Ahead of Change.
Few things matter more to an investor than understanding and anticipating change. As we celebrate 15 years of Global Alpha, we share some thoughts on how the portfolio, our process and the team have developed over time.August 2020
Global Alpha - 10 minutes with Helen Xiong.
Ben Drury, client director, talks to Helen Xiong, an investor and soon-to-be key decision maker for the Global Alpha strategy. Helen explains what she has learnt from her past experience with Baillie Gifford, what she will bring to the team in her new role, and what she is excited about moving forward.June 2020
Back To The Future.
This webinar has been prepared solely for the use of professional investors outside of the Unites States and is not for further distribution. Baillie Gifford takes no responsibility for the reliance on this webinar by any other person who did not receive this webinar from Baillie Gifford.2019
Global Alpha Stewardship Report - 2019.
Stewardship really matters to us. Since 1908 the ownership and direction of Baillie Gifford has successfully passed from generation to generation of partners, preserving our independence and motivation. We believe that good stewardship marks the beginning of long-term value creation.ARCHIVEDThird Quarter 2018
Thriving in the Face of Adversity.
Chris Davies explains how latent growth stocks can overcome stumbles, like Finnish runner Lasse Viren in the 1972 Olympics, and provide lucrative returns for the patient long-term investor.
Meet the Managers
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.
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.
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.
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Bulletins and Factsheets
Enhanced Disclosure Document
Key Investor Information Documents
Philosophy and Process Documents
In the first instance, clients should contact their normal Client Contact with any concerns. Alternatively, or for those clients who do not have a direct client contact assigned, complaints can be emailed to Baillie Gifford’s Compliance Department at: [email protected]. A summary document which contains details on Baillie Gifford’s complaints management policy is available upon request. All material complaints are recorded in an in-house incident management system and are escalated to, and dealt with by, members of staff of suitable seniority, independent of the area from which the matter arose.