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Overview
The Fund aims to outperform (after deduction of costs) the S&P 500 Index, as stated in Sterling, by at least 1.5% 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 North America Sector.
Statement
The American Fund invests on a five to ten year view. The price of the Fund could change materially based on the valuations of a few companies. As such, it may not suit your investment needs.
Prior to considering an investment please take into account your tolerance for volatility in the value of the Fund’s share price and whether your investment time horizon aligns with the Fund’s. Company share prices can rise and fall significantly in the short run. They can be dominated by the sentiment of other investors, and are often swayed by news and events. We will not attempt to predict or control for short-term price changes; looking beyond the immediate environment is an important part of our process.
We manage the Fund this way because it is where we believe we have the greatest investment insight, which in turn gives us the best chance to deliver outstanding investment returns to shareholders over the next five years and beyond. The businesses we invest in are innovative, disruptive and run very differently to the average. Our investment horizon of at least five years, combined with our creative approach to research, helps us to see value where others don’t. But we cannot guarantee that we will be proven right, or that the Fund will achieve the returns we aim for.
If you are interested in finding out more then there is additional information in the Insights and Documents sections of the website.
Performance & Portfolio
Periodic PerformanceAll figures to 31/03/20216 Months 1 Year 3 Years 5 Years Class B-Acc 10.6% 105.1% 42.2% 36.3% Index* 11.6% 40.5% 17.4% 17.2% Target Benchmark** 12.3% 42.2% 18.9% 18.7% Sector Average*** 13.2% 42.4% 16.5% 16.1% Sector Ranking 102/156 1/155 1/143 1/128 Annual Discrete Performance figures to 31 March each yearAnnual percentage return (Updated Quarterly)31/03/2016
31/03/201731/03/2017
31/03/201831/03/2018
31/03/201931/03/2019
31/03/202031/03/2020
31/03/2021Class B-Acc 36.7% 19.7% 26.6% 10.8% 105.1% Index* 34.7% 1.6% 17.9% -2.2% 40.5% Target Benchmark** 36.2% 3.0% 19.6% -1.0% 42.2% Sector Average*** 33.2% -0.0% 15.7% -4.0% 42.4% 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.
Performance source: FE and relevant underlying index provider, single pricing basis, total return.
Returns reflect the annual charges but exclude any initial charge paid.
*S&P 500 Index.
**S&P 500 Index +1.5%.
***IA North America SectorPerformance - 31/03/2021Please 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 and relevant underlying index provider, single pricing basis, total return.
The graph is rebased to 100.Unfortunately we were unable to load the chart. Please try again later.Top Ten Holdings - 31/03/2021
Fund % 1 Shopify 7.4% 2 Wayfair 6.5% 3 Amazon.com 5.8% 4 The Trade Desk 5.0% 5 Tesla Inc 4.7% 6 Roku 4.2% 7 Twilio 4.0% 8 Netflix 3.8% 9 Zoom Video Communications 3.3% 10 Illumina 2.9% Total 47.5% Fund % 1 Shopify 7.4% 2 Wayfair 6.5% 3 Amazon.com 5.8% 4 The Trade Desk 5.0% 5 Tesla Inc 4.7% 6 Roku 4.2% 7 Twilio 4.0% 8 Netflix 3.8% 9 Zoom Video Communications 3.3% 10 Illumina 2.9% Total 47.5% Sector Analysis of Total Assets - 31/03/2021As 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.Unfortunately we were unable to load the chart. Please try again later.Insights
View all Insights.April 2021The Future of Mobility - Part 1.
A wave of revolutionary new technologies is set to transform the way we travel from A to B. In this short series, Thaiha Nguyen, a Baillie Gifford investment manager, takes an in-depth look at the business of personal transport on the brink of change.
Read moreApril 2021The Future of Mobility - Part 2.
A wave of revolutionary new technologies is set to transform the way we travel from A to B. In this short series, Thaiha Nguyen, a Baillie Gifford investment manager, takes an in-depth look at the business of personal transport on the brink of change.
Read moreApril 2021The Future of Mobility - Part 3.
A wave of revolutionary new technologies is set to transform the way we travel from A to B. In this short series, Thaiha Nguyen, a Baillie Gifford investment manager, takes an in-depth look at the business of personal transport on the brink of change.
Read moreApril 2021The Future of Mobility - Part 4.
A wave of revolutionary new technologies is set to transform the way we travel from A to B. In this short series, Thaiha Nguyen, a Baillie Gifford investment manager, takes an in-depth look at the business of personal transport on the brink of change.
Read moreMarch 2021Enlightenment.
Featuring the news and views of the teams involved in running our funds.
Read moreFebruary 2021American Fund Webinar.
In this webinar recording, US Equity strategy specialist Ben James talks to all four key decision makers of the American Fund portfolio, Tom Slater, Kirsty Gibson, Gary Robinson and Dave Bujnowski. The team explore the thought processes that have helped them navigate the challenge of maintaining a 5-10 year investment horizon during what has been a year of rapid change, followed by questions from attendees.
WatchNovember 2020Enlightenment.
Featuring the news and views of the teams involved in running our funds
Read moreAugust 2020Scale as a Service.
Companies become more efficient as they grow. In the past, that involved big capital outlays and was bad news for challengers. However, as Gary Robinson, manager of the Baillie Gifford American Fund and the Baillie Gifford US Growth Trust explains, entrepreneurs can now rent the essential tools from cloud platforms, enabling them to compete more easily.
Read moreAugust 2020Enlightenment.
Featuring the news and views of the teams involved in running our funds.
Read moreJune 2020Enlightenment.
Featuring the news and views of the teams involved in running our funds.
Read moreView all Insights.
Meet the Managers
Tom Slater - Manager
Tom is Head of the US Equities Team and is a Decision Maker on Long Term Global Growth Portfolios. He joined Baillie Gifford in 2000 and became a Partner of the firm in 2012. After serving as Deputy Manager for five years, Tom was appointed Joint Manager of Scottish Mortgage Investment Trust in 2015. During his time at Baillie Gifford he has also worked in the Developed Asia and UK Equity Teams. Tom’s investment interest is focused on high growth companies both in listed equity markets and as an investor in private companies. He graduated BSc in Computer Science with Mathematics from the University of Edinburgh in 2000.
Gary Robinson
Gary has been a member of the Global Stewardship Portfolio Construction Group since its inception in 2015 and is an Investment Manager in the US Equities Team. He graduated MBiochem in Biochemistry from the University of Oxford in 2003 and joined Baillie Gifford the same year. He spent time working on our Japanese, UK and European Equity Teams before moving to the US Equities Team in 2008. Gary is a generalist investor but retains a special interest in the healthcare sector dating back to his undergraduate degree. Gary became a Partner of the firm in 2019.
Kirsty Gibson
Kirsty joined Baillie Gifford in 2012 and is an Investment Manager in the US Equities Team. She also is a member of the Positive Change Portfolio Construction Group. Kirsty graduated MA (Hons) in Economics in 2011 and MSc in Carbon Management in 2012, both from the University of Edinburgh.
Dave Bujnowski
Dave joined Baillie Gifford in 2018 as a Senior Analyst and is now a portfolio manager in the US Equities team. Prior to joining Baillie Gifford, he cofounded Coburn Ventures in 2005. In his 13 years at Coburn Ventures, was a Partner, primary client facing consultant, research analyst and portfolio manager of a long-short, market neutral hedge fund. He started his career in 1996, joining Warburg Dillon Read’s equity research group as an associate semiconductor analyst before joining UBS’s Global Tech Strategy team. Dave graduated from Boston College in 1993, where he majored in Finance and Philosophy. He has been a member of the team since 2020.
How to Buy
You can invest in a range of our funds via a number of fund platforms and supermarkets, please see the links opposite. Further information on the funds can be found in the relevant Key Investor Information and Prospectus Documents, which are available in English and will be sent to you free of charge on request. Information on the range of funds available through platforms can be found in our Platform Matrix.
Baillie Gifford does not sponsor, maintain or have any control over the content of any other websites. Therefore, we are not responsible for the adequacy or accuracy of any of the information you may view, nor do we undertake to ensure successful transmission to any linked website.
Fund Platforms/Supermarkets
OEIC Terms of Business
To buy and sell our funds, you must complete and return a copy of the document below, if you don't already have an agreement with us. In order for us to accept your business for our range of OEICs, please complete and return the Terms of Business Acceptance Form.
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.
Application Forms
Bulletins and Factsheets
Enhanced Disclosure Document
Fund Ratings Reports
Key Investor Information Documents
Philosophy and Process Documents
Value Assessment
Risks
General Investment Risk
Investment markets can go down as well as up and market conditions can change rapidly. The value of an investment in the Fund, and any income from it, can fall as well as rise and investors may not get back the amount invested.
Custody
Custody of assets involves a risk of loss if a custodian becomes insolvent or breaches duties of care.
Single Country
The Fund’s exposure to a single market and currency may increase share price movements.
Concentration
The Fund’s concentrated portfolio relative to similar funds may result in large movements in the share price in the short term.
Foreign Currency
The Fund has exposure to foreign currencies and changes in the rates of exchange will cause the value of any investment, and income from it, to fall as well as rise and you may not get back the amount invested.
Volatility
The Fund’s share price can be volatile due to movements in the prices of the underlying holdings and the basis on which the Fund is priced.
Dilution
A dilution adjustment may apply when you buy or sell shares in the Fund. This is applied to the share price and may reduce the return on your investment.
Fees From Revenue
Where possible, charges are taken from the Fund's revenue. Where there is insufficient revenue, the remainder will be taken from capital. This will reduce the capital value of your investment.
Tax Rates
Tax rates and the tax treatment of OEICs can change at any time.