1. 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.


    Top Ten Holdings - 31/05/2022

    Fund %
    1 AstraZeneca 5.0%
    2 Rio Tinto 4.8%
    3 Diageo 4.7%
    4 Baillie Gifford British Smaller Companies Fund 4.2%
    5 St. James's Place 4.2%
    6 Bunzl 4.0%
    7 Legal & General 3.4%
    8 Unilever 3.4%
    9 Prudential 3.2%
    10 RELX 2.9%
    Total 39.6%

    Meet the Manager

    Iain McCombie

    Iain is the co-lead Manager on our flagship Managed Fund, where he has been involved since 2000. He is the lead Manager of our UK Core Strategy and became a Partner of the firm in 2005. Since joining Baillie Gifford in 1994, Iain has also spent time in the US Equities Team. His knowledge and experience as a stock picker is a valuable input into our Global Stewardship equity Strategy. Iain graduated MA in Accountancy from the University of Aberdeen and subsequently qualified as a Chartered Accountant.


    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.


    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.