1. Long Term Global Growth Investment Fund

    Long Term Global Growth Investment Fund

  2. Overview

    The Long Term Global Growth Investment Fund aims to outperform (after deduction of costs) the MSCI ACWI, 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 Performance

    All figures to 29/02/2024

    6 Months

    1 Year

    3 Years

    5 Years

    Class B-Acc 15.1%27.3%-5.0%14.7%
    Index* 12.1%18.3%10.9%12.1%
    Target Benchmark** 13.5%21.3%13.7%15.0%

    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 December each year

    Annual percentage return (Updated Quarterly)

    31/12/2018
    31/12/2019

    31/12/2019
    31/12/2020

    31/12/2020
    31/12/2021

    31/12/2021
    31/12/2022

    31/12/2022
    31/12/2023

    Class B-Acc 29.9%95.6%3.9%-40.1%30.7%
    Index* 22.3%13.0%20.0%-7.3%15.6%
    Target Benchmark** 25.4%15.8%23.0%-5.0%18.5%
    Sector Average*** 21.9%15.3%17.7%-11.1%12.7%

    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.
    **FTSE All World Index + 2.5% (in Sterling) over rolling five-year periods up to 29/06/2023; from 30/06/2023 MSCI ACWI + 2.5% (in Sterling).
    These have been chain-linked for performance figures above.
    ***IA Global Sector.

    Top Ten Holdings - 29/02/2024

    Fund %
    1 NVIDIA 8.2%
    2 Amazon.com 6.8%
    3 ASML 5.2%
    4 PDD Holdings 4.6%
    5 Adyen 3.8%
    6 Cloudflare 3.6%
    7 Advanced Micro Devices 3.6%
    8 Spotify 3.5%
    9 Intuitive Surgical 3.4%
    10 The Trade Desk 3.4%
    Total 46.2%
    Geographic Analysis of Total Assets - 29/02/2024

    Fund %

    • 1 North America 58.30
    • 2 Europe (ex UK) 20.46
    • 3 Emerging Markets 20.00
    • 4 Cash 1.25
    • Total 100.00

    Total may not sum due to rounding.

    Meet the Managers

    Gemma Barkhuizen

    Gemma is an investment manager in the Long Term Global Growth Team and a manager of the Global Outliers Strategy. She joined Baillie Gifford in 2017. Gemma graduated MA in Modern History from the University of Durham in 2017. Prior to this, she graduated BA (Hons) in History and BA double major in History and Philosophy from Rhodes University in South Africa. 

    John MacDougall

    John is an investment manager and decision maker in the Long Term Global Growth (LTGG) Team. He is also a member of the China A share portfolio construction group. John has been a partner in the firm since 2016. He joined Baillie Gifford in 2000 as an investment graduate. Prior to his current roles, he worked in the North American, Japan and Global Discovery teams. John graduated MA in Ancient & Modern History from the University of Oxford in 2000.

    Michael Pye

    Michael is an investment manager in the Long Term Global Growth Team. He joined Baillie Gifford in 2013. He is also a CFA Charterholder. Michael graduated MA in Classics from the University of Cambridge in 2007 and gained a PhD in International Relations from the University of St Andrews in 2013. 

    Mark Urquhart

    Mark is an investment manager who joined Baillie Gifford in 1996. He is head of the Long Term Global Growth Team, which he co-founded in 2003. He has previously worked in the US, UK and Japanese Equity 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. 

    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.