Overview
The UK Equity Core Fund aims to outperform (after deduction of costs) the FTSE All-Share Index by at least 1% 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.
Performance & Portfolio
Periodic Performance
All figures to 31/03/2024 6 Months
1 Year
3 Years
5 Years
Class B-Acc 7.1% 6.4% 1.4% 3.3% Index* 6.9% 8.4% 8.1% 5.4% Target Benchmark** 7.5% 9.5% 9.2% 6.5% 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-Acc -19.3% 39.7% -0.1% -2.0% 6.4% Index* -18.5% 26.7% 13.0% 2.9% 8.4% Target Benchmark** -17.6% 28.0% 14.2% 4.0% 9.5% Sector Average*** -19.2% 38.0% 5.4% -1.9% 7.7% 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, FTSE. Total return net of charges, in sterling.
Share class returns calculated using 10am prices, while the Index is calculated close-to-close.
†17 January 2018.
*FTSE All-Share Index +1.0%
****FTSE All-Share Index plus at least 1% per annum over rolling five-year periods.
***IA UK All Companies Sector.Top Ten Holdings - 31/03/2024
Fund % 1 AstraZeneca 4.5% 2 Bunzl 4.1% 3 RELX 4.0% 4 Rio Tinto 3.9% 5 Legal & General 3.8% 6 Diageo 3.5% 7 Unilever 3.4% 8 Marks and Spencer Group 3.3% 9 Howden Joinery 3.2% 10 Babcock International Group 3.1% Total 36.9% Insights
View all Insights.Meet the Manager
Iain McCombie
Iain is the head of our UK Equity Team and lead manager of the UK Core Strategy. He is also the joint manager on our flagship Managed Strategy, which he has been involved in since 2000, and became a partner of the firm in 2005. Since joining Baillie Gifford in 1994, Iain has spent time on the US Equities Team. Iain graduated with a MA in Accountancy from the University of Aberdeen and subsequently qualified as a Chartered Accountant.
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
Quarterly Investor Updates
Value Assessment
Sustainability-related Disclosures
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.
