1. Overview

    The Fund invests in sustainable growth companies. It mitigates Environmental, Social and Governance (ESG) risks by applying 'sin sector' exclusions, and then seeks to identify ESG opportunities by focusing on companies which our research suggests are a net benefit to society, which balance the interests of all stakeholders, and which exhibit a responsible culture. The Portfolio Construction Group (PCG) is made up of experienced investors and ESG specialists, who provide challenge, context and comparison when building a concentrated portfolio of 70-100 stocks.

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

    Portfolio

    Top Ten Holdings - 31/05/2022

    Fund %
    1 Tesla Inc 3.8%
    2 TSMC 3.7%
    3 NVIDIA 3.2%
    4 Pacira BioSciences 2.8%
    5 MarketAxess 2.6%
    6 IMCD 2.5%
    7 FANUC 2.4%
    8 AIA 2.3%
    9 First Republic Bank 2.2%
    10 Shopify 2.0%
    Total 27.6%
    GEOGRAPHIC ANALYSIS OF TOTAL ASSETS - 31/05/2022

    Fund %

    • 1 United States 45.93
    • 2 Japan 13.75
    • 3 China 7.12
    • 4 UK 5.88
    • 5 Sweden 4.58
    • 6 Taiwan 3.71
    • 7 Hong Kong 3.25
    • 8 France 2.63
    • 9 Netherlands 2.51
    • 10 Canada 2.04
    • 11 Others 7.66
    • 12 Cash 0.92
    • Total 100.0

    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

    Iain McCombie

    Iain is a founding member of the Global Stewardship Portfolio Construction Group and is the lead manager of our UK Core strategy. Most recently, Iain served as Chief of Investment Staff from 2013 to 2018 and became a Partner of the firm in 2005. He initially joined Baillie Gifford in 1994 and spent five years training as an Investment Manager in the US Equities Team before joining the UK Equity Team in 1999. Iain graduated MA in Accountancy from the University of Aberdeen and subsequently trained as a Chartered Accountant.

    Gary Robinson

    Gary has been a member of the Global Stewardship Portfolio Construction Group since its inception in 2015 and is an Investment Manager in the US Equities Team. He graduated MBiochem in Biochemistry from the University of Oxford in 2003 and joined Baillie Gifford the same year. He spent time working on our Japanese, UK and European Equity Teams before moving to the US Equities Team in 2008. Gary is a generalist investor but retains a special interest in the healthcare sector dating back to his undergraduate degree. Gary became a Partner of the firm in 2019.

    Mike Gush

    Mike has been involved with the Global Stewardship strategy since inception as a member of the Portfolio Construction Group. He is a named manager for Baillie Gifford’s Emerging Markets and China Funds, as well as being responsible for the Emerging Markets Small Cap strategy. Mike first joined Baillie Gifford in 2003 and before moving to the Emerging Markets Equity Team in 2005, Mike worked in the UK and Japanese Equity Teams. Mike became a Partner of the firm in 2020. He is a CFA Charterholder and graduated MEng from the University of Durham in 2003.

    Matthew Brett

    Matthew is an Investment Manager in the Japanese Equities Team and has been a member of the Global Stewardship Portfolio Construction Group since its inception. He is manager of the Japanese All Cap Strategy and Lead Manager of the Japanese Income Growth Strategy. Matthew joined Baillie Gifford in 2003 and became a Partner in 2018. He is a CFA Charterholder. Matthew graduated BA (Hons) in Natural Sciences (Psychology) from the University of Cambridge in 2000 and holds a PhD in Psychology from the University of Bristol.

    Zaki Sabir

    Zaki joined Baillie Gifford in 2007 and in 2017 he became a member of the Global Stewardship Portfolio Construction Group. He is a Senior Analyst in the Global Discovery Investment Team. Zaki graduated BA in Business Accounting and Finance from the University of Newcastle in 2006.

    Craig Noble

    Craig is a Senior Analyst in the ESG Team and a recent addition to the Global Stewardship Portfolio Construction Group. He first joined Baillie Gifford in 2015 via the Investment Operations Graduate Scheme where he spent two years rotating through eighteen secondments in different departments across the firm. Craig graduated with a BSc (Hons) in Business and an MSc in Finance, both from Lancaster University Management School. As a dedicated sustainability analyst for the Global Stewardship 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.

    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.

    Complaints

    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: InstitutionalComplaints@bailliegifford.com. 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.