Overview
What does sustainable mean to you? Something that lasts a lifetime? We think it’s a resilient income that can keep pace with inflation over time. Sustainable income is a simple, multi-asset fund designed to be a core holding for investors with long-term income needs.
The Sustainable Income Fund aims to produce monthly income, whilst seeking to maintain the value of that income and of capital in line with inflation (UK CPI) over five-year periods. The Fund has no benchmark. The manager believes an appropriate performance comparison for this Fund is the Investment Association Mixed Investment 40-85% Shares Sector.
Sustainable income has two meanings for us. Will the income prove to be sustainable over long periods of time? And is it sustainable from an ESG perspective? We believe the two are inextricably linked.
Performance & Portfolio
Periodic Performance
All figures to 31/03/2024 6 Months
1 Year
3 Years
5 Years
Class B-Inc 8.5% 6.4% 3.2% 5.0% ***IA Mixed Investment 40-85% Shares Sector.
Performance source: FE, total return net of charges, in sterling.
Since inception figures are from 31 August 2018.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 March each year
Annual percentage return (Updated Quarterly) 31/03/2019
31/03/202031/03/2020
31/03/202131/03/2021
31/03/202231/03/2022
31/03/202331/03/2023
31/03/2024Class B-Inc -4.1% 21.2% 7.4% -3.9% 6.4% Sector Average*** -8.0% 26.4% 5.2% -4.5% 10.2% 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.Share class returns calculated using 10am prices, while the Index is calculated close-to-close.
***IA Mixed Investment 40-85% Shares Sector.Top Ten Holdings - 31/03/2024
Fund % 1 Novo Nordisk 1.8% 2 Microsoft 1.8% 3 Fastenal 1.6% 4 Watsco Inc 1.5% 5 TSMC 1.4% 6 Greencoat UK Wind 1.4% 7 WEC Energy Group 1.3% 8 Schneider Electric SE 1.3% 9 Terna 1.3% 10 Exelon Corporation 1.2% Total 14.7% Asset Allocation - 31/03/2024Fund %
- 1 Global Equities 0.00
- 2 Listed Equities 35.40
- 3 Property 8.74
- 4 Infrastructure 19.42
- 5 High Yield Credit 11.58
- 6 Investment Grade Credit 7.01
- 7 Emerging Market Bonds Hard Currency 6.54
- 8 Emerging Market Bonds Local Currency 8.81
- 9 Developed Government Bonds 1.05
- 10 Cash and Equivalents 1.44
- 11 Active Rates and Currency 0.02
- Total 100.00
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.Insights
View all Insights.Meet the Managers
James Dow
James was appointed Co-Head of the Global Income Growth Team and Co-Manager of The Scottish American Investment Company PLC (SAINTS) in 2017. He became Manager of SAINTS when Toby Ross stepped back as Co-Manager in February 2024. He became a Partner in the firm from 1 May 2023. He joined Baillie Gifford in 2004 on the Graduate Scheme and became an Investment Manager in our US Equities Team. Previously, James spent three years working at The Scotsman newspaper, where he was the Economics Editor. He is a CFA Charterholder, graduated MA (Hons) in Economics-Philosophy from the University of St Andrews in 2000 and MSc in Development Studies from the London School of Economics in 2001.
Steven Hay
Steven joined Baillie Gifford in 2004 and is Head of the Income Research Team. Prior to joining Baillie Gifford, Steven was a Fixed Income Investment Manager with Scottish Widows. His experience includes seven years undertaking analysis and research for the Bank of England’s Monetary Policy Committee, and involvement in managing the UK’s foreign exchange reserves. Steven graduated BAcc (Hons) in Economics and Accountancy from the University of Glasgow in 1992 and MSc in Economics from the University of Warwick in 1993.
Nicoleta Dumitru
Nicoleta joined Baillie Gifford in 2013 and is an Investment Manager in the Multi Asset Team. In 2018, she joined the Multi Asset Income Portfolio Construction Group (PCG). Nicoleta graduated BSc (Hons) in Management and Marketing from the University of Manchester in 2013.
Lesley Dunn
Lesley is Head of Credit and co-manager of the Strategic Bond strategy. She is a member of the Multi Asset and Income Leadership Group and the Sustainable Income Portfolio Construction Group. Lesley joined Baillie Gifford in 2016 and became a partner of the firm 2023. Prior to this, she spent 15 years at Scottish Widows Investment Partnership. Lesley graduated BSc (Hons) in Maths, Statistics & Economics from Strathclyde University in 2000 and is a CFA Charterholder.
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.
Bulletins and Factsheets
Enhanced Disclosure Document
Key Investor Information Documents
Other Fund Literature
Philosophy and Process Documents
Quarterly Investor Reports
Value Assessment
Sustainability-related Disclosures
Shareholders Rights Directive
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.
