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Overview
The Long Term Global Growth Investment Fund aims to outperform (after deduction of costs) the FTSE All World Index, as stated in Sterling, by at least 2.5% 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.
At Baillie Gifford, we ask ourselves one important question: ‘Where are the most exciting investment opportunities over the long term going to be?
Performance & Portfolio
Periodic PerformanceAll figures to 31/03/20216 Months 1 Year 3 Years Since Inception Class B-Acc 7.5% 78.5% 35.4% 32.1% Index* 12.7% 39.6% 13.1% 10.5% Target Benchmark** 14.1% 43.1% 16.0% 13.2% Annual Discrete Performance to 31 March each yearAnnual percentage return (Updated Quarterly)31/03/2016
31/03/201731/03/2017
31/03/201831/03/2018
31/03/201931/03/2019
31/03/202031/03/2020
31/03/2021Class B-Acc n/a n/a 17.4% 18.5% 78.5% Index* n/a n/a 10.7% -6.2% 39.6% Target Benchmark** n/a n/a 13.5% -3.9% 43.1% Sector Average*** n/a n/a 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.
*FTSE All-World Index.
**FTSE All-World Index +2.5%.
***IA Global Sector.Performance - 31/03/2021Please 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 and relevant underlying index provider, single pricing basis, total return.
The graph is rebased to 100.Unfortunately we were unable to load the chart. Please try again later.Top Ten Holdings - 31/03/2021
Fund % 1 Tencent 5.7% 2 Amazon.com 5.5% 3 Meituan Dianping 5.2% 4 Alibaba 5.0% 5 Tesla Inc 4.9% 6 Pinduoduo 4.6% 7 Illumina 4.2% 8 ASML 3.7% 9 Kering 3.6% 10 Netflix 3.4% Total 45.8% Fund % 1 Tencent 5.7% 2 Amazon.com 5.5% 3 Meituan Dianping 5.2% 4 Alibaba 5.0% 5 Tesla Inc 4.9% 6 Pinduoduo 4.6% 7 Illumina 4.2% 8 ASML 3.7% 9 Kering 3.6% 10 Netflix 3.4% Total 45.8% Geographic Analysis of Total Assets 31/03/2021Total may not sum due to rounding.Unfortunately we were unable to load the chart. Please try again later.Insights
All InsightsFebruary 2021Highlights Video: Long Term Global Growth Webinar.
Client Director Tatjana Evans-MacLeod highlights the most notable discussion points from the recent LTGG webinar, in which investment managers Mark Urquhart, Gemma Barkhuizen and Linda Lin discussed turnover, valuation, China, ESG, and capacity.
WatchSeptember 2020A gallery for growth.
Much like an art curator, the role of the investment manager involves carefully selecting investments that will make a mark and grow in value over time.
Read moreSeptember 2020Navigating Noise.
Navigating Noise, a video series brought to you by the Long Term Global Growth team, seeks to gather and share some of the thinking we find so valuable when investing for the long term.
Read moreSeptember 2020Value Judgements.
With valuation formulas found wanting once again, Mark Urquhart writes in praise of uncertainty.
Read moreSeptember 2020Sensible Nonsense.
To stand the best chance of owning the winning companies of the 2030s, we should imagine how bizarre today’s ‘normal’ will seem when the next generation looks back.
Read moreJune 2020A View from the Midst of the Pandemic.
Technological developments over recent decades mean reality has outpaced the science fiction of his youth since Mark Urquhart joined Baillie Gifford almost 25 years ago. Now, scanning the Covid-19 driven global economy, he sets out his enthusiasm and expectations for the next decade and beyond.
Read moreApril 2020Looking Back Going Forward.
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the April 2020 issue.
Read more2019LTGG XV.
The Evolution of LTGG over the first 15 years.
Find out moreSecond Quarter 2017Philosophies – Global.
As our understanding of the concept of global continues to evolve, investment manager John MacDougall suggests that where a company happens to be based will not prevent it from building a high growth business in the future. As such, we must be prepared to see high-growth companies emerging from new locations across the globe. John explains how the Long Term Global Growth team are adapting their research to accommodate this.
WatchSecond Quarter 2017Philosophies - Longevity.
Investment manager Mark Urquhart would love to see companies currently in the portfolio still having their place in it in 2050. For him, it is not enough for businesses to endure, they must adapt and, crucially, be brave enough to disrupt themselves, if they are to manifest growth for many years to come.
WatchMeet the Managers
Mark Urquhart
Mark is a Senior Investment Manager in our Long Term Global Growth Team, a strategy which he co-founded in 2003. Mark joined Baillie Gifford in 1996, initially working as an Investment Analyst and Manager in the US, UK and Japanese Equities Teams. He became a Partner in 2004. Mark graduated BA in Philosophy, Politics and Economics from the University of Oxford in 1992 and spent a year at Harvard as a Kennedy Scholar in 1993 before completing a PhD in Politics at the University of Edinburgh in 1996.
Tom Slater - Manager
Tom is Head of the US Equities Team and is a Decision Maker on Long Term Global Growth Portfolios. He joined Baillie Gifford in 2000 and became a Partner of the firm in 2012. After serving as Deputy Manager for five years, Tom was appointed Joint Manager of Scottish Mortgage Investment Trust in 2015. During his time at Baillie Gifford he has also worked in the Developed Asia and UK Equity Teams. Tom’s investment interest is focused on high growth companies both in listed equity markets and as an investor in private companies. He graduated BSc in Computer Science with Mathematics from the University of Edinburgh in 2000.
Documents
You can access any literature about the Fund here, either by downloading or requesting a copy by post (where available). Please note that, due to current government restrictions, we have a limited number of staff in our office. As a result, if posting instructions to us, there may be a delay in processing these due to these current restrictions.
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.
Bulletins and Factsheets
Enhanced Disclosure Document
Interim Reports
Key Investor Information Documents
Philosophy and Process Documents
Value Assessment
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: [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.