1. Overview

    The UK Equity Alpha Fund aims to outperform (after deduction of costs) the FTSE All-Share Index 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 UK All Companies Sector.

    The important point for long-term equity investment is that you can get the broad direction of travel right.

    Gerard Callahan

    Portfolio

    Top Ten Holdings - 31/03/2021

    Fund %
    1 Rightmove 7.1%
    2 Ocado 6.2%
    3 Renishaw 5.8%
    4 Aveva 5.4%
    5 Auto Trader 5.4%
    6 Trainline 5.1%
    7 HomeServe 4.5%
    8 ASOS 4.1%
    9 Abcam 4.0%
    10 Hargreaves Lansdown 3.7%
    Total 51.2%
    SECTOR ANALYSIS OF TOTAL ASSETS - 31/03/2021

    Fund %

    • 1 Consumer Discretionary 19.80
    • 2 Industrials 18.49
    • 3 Financials 13.90
    • 4 Health Care 10.97
    • 5 Technology 10.78
    • 6 Consumer Staples 8.80
    • 7 Real Estate 7.14
    • 8 Basic Materials 7.02
    • 9 Energy 0.65
    • 10 Cash 2.45
    • Total 100.0

    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 Manager

    Gerard Callahan

    Gerard joined Baillie Gifford in 1991 and is head of our UK Equity Team and Chairman of the International All Cap Portfolio Construction Group. He became a Partner of the firm in 2000 and Lead Manager of our UK Alpha Strategy in the same year. Gerard has been involved as a Portfolio Manager in our International strategies since 1998, initially in selecting UK stocks. He graduated BA in Politics, Philosophy and Economics from the University of Oxford in 1991.

    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.

    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.