Capital at risk

Baillie Gifford European Growth Trust

Focusing on Europe, the Company aims to outperform the market through investments in companies that have large, structural growth opportunities. The Company has a high-conviction portfolio of European public and private companies with sustainable competitive advantages and superior earnings growth potential.

Aurora Borealis dancing in vibrant green hues over the city of Tromsø, Troms, northern Norway, with city lights reflecting on water and mountains faintly visible under the night sky.

Stay up to date

Save this fund to your shortlist, or subscribe to email updates so you never miss an insight or report.

Overview

ISIN

GB00BMC7T380

SEDOL

BMC7T38

Investment proposition

Baillie Gifford European Growth Trust aims to achieve capital growth over the long term from a diversified portfolio of European securities.

Share price and charges

Price

106.50p

NAV at fair

114.85p

Premium (+) or discount (-) at fair

-7.3%

Ongoing charges*

0.65%

Fund facts

Active share

85%*

Fund launch date

1972

AIC Investment Sector

Europe ex UK

Benchmark

FTSE Europe ex UK Index

Past performance is not a guide to future returns.

*Relative to FTSE Europe ex UK Index. Source: Baillie Gifford & Co, FTSE.

Meet the managers

Meet the directors

Intermediary client contacts

If you’d like further information, please get in touch with the Intermediary Client Contact for your area.

Ratings

AGM, voting and registrar details

AGM

11am on 5 February 2025 at the offices of Baillie Gifford & Co, Calton Square, 1 Greenside Row, Edinburgh EH1 3AN.

View latest results

Voting

Access information on our Corporate calendar, AGM voting and attendance.

Access information on votes cast by Baillie Gifford during the previous quarter on behalf of the investment trust in the Proxy voting disclosure.

Registrar

Computershare Investor Service PLC,
The Pavilions,
Bridgwater Road,
Bristol,
BS99 6ZZ.

Regulatory news announcements

Regulatory news announcements which are released to the London Stock Exchange can be accessed via their service.

Baillie Gifford European Growth Trust announcements

The Association of Investment Companies

Further information on investment trusts and the investment trust sector can be found on The Association of Investment Companies website.

Visit the website

Risk Warnings

Risk Introduction

The investment trusts managed by Baillie Gifford & Co Limited are listed UK companies. The value of their shares, and any income from them, can fall as well as rise and investors may not get back the amount invested. The specific risks associated with the Trust include:

Currency

The Trust invests in overseas securities. Changes in the rates of exchange may also cause the value of your investment (and any income it may pay) to go down or up.

Private Companies

Unlisted investments such as private companies can increase risk. These assets may be more difficult to sell, so changes in their prices may be greater.

Gearing

The Trust can borrow money to make further investments (sometimes known as "gearing" or "leverage"). The risk is that when this money is repaid by the Trust, the value of the investments may not be enough to cover the borrowing and interest costs, and the Trust will make a loss. If the Trust's investments fall in value, any invested borrowings will increase the amount of this loss.

Liquidity

Market values for securities which have become difficult to trade may not be readily available and there can be no assurance that any value assigned to such securities will accurately reflect the price the Trust might receive upon their sale.

Concentration

The Trust's risk is increased as it holds fewer investments than a typical investment trust and the effect of this, together with its long term approach to investment, could result in large movements in the share price.

Derivatives

The Trust can make use of derivatives which may impact on its performance.

Premium Risk

Share prices may either be below (at a discount) or above (at a premium) the net asset value (NAV). The Company may issue new shares when the price is at a premium which may reduce the share price. Shares bought at a premium may have a greater risk of loss than those bought at a discount.

Buy-backs

The Trust can buy back its own shares. The risks from borrowing, referred to above, are increased when a trust buys back its own shares.

Income Secondary

The aim of the Trust is to achieve capital growth. You should not expect a significant, or steady, annual income from the Trust.

Regulation of Investment Trusts

The Trust is listed on the London Stock Exchange and is not authorised or regulated by the Financial Conduct Authority.

Index disclaimer

Source: London Stock Exchange Group plc and its group undertakings (collectively, the "LSE Group"). © LSE Group 2025. FTSE Russell is a trading name of certain of the LSE Group companies. "FTSE®" "Russell®", is/are a trade mark(s) of the relevant LSE Group companies and is/are used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company's express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

Contact us

Still have a question?  Please get in touch with us.

Fund performance

Periodic Performance

As at: 31 October 2025

1 Year
3 Years
5 Years
10 Years
Share Price
24.0%
38.6%
-6.0%
79.2%
NAV
13.9%
29.8%
0.6%
81.2%
Index*
21.3%
58.4%
83.3%
167.1%

Discrete Performance

As at: 30 September 2025

30/09/2020 –
30/09/2021
30/09/2021 –
30/09/2022
30/09/2022 –
30/09/2023
30/09/2023 –
30/09/2024
30/09/2024 –
30/09/2025
Share Price
25.2%
-47.7%
8.6%
9.3%
14.5%
NAV
23.9%
-40.4%
8.3%
12.1%
5.2%
Index*
23.0%
-15.3%
20.5%
15.3%
15.5%

Performance

As at: 31 October 2025

View by date range:

Source: Morningstar, FTSE.

Performance figures appear in GBP. Please bear in mind that past performance is not a guide to future returns. The value of your investment may go down as well as up, and you may not get back the amount you invested.

Benchmark data is limited to a 5 year period from the current date.

The graph has been rebased to 100.

Discount/premium history at fair

As at: 31 October 2025

View by date range:

Source: Morningstar. Premium/Discount of share price to NAV at fair.

If the graph shows negative figures this means that the share price is lower than the NAV at fair – this is known as trading at a Discount.

If the graph shows positive figures this means that the share price is higher than the NAV at fair - this is known as trading at a Premium.

Active share

As at: 31 October 2025

View by date range:

Relative to FTSE All-Share Index, total return. Source: Baillie Gifford & Co, FTSE.

Contact us

Still have a question?  Please get in touch with us.

Fund portfolio holdings

The list of top 10 holdings that this fund invests in.

As at: 31 October 2025

#Holding% of total assets
1Bending Spoons8.8%
2Prosus5.0%
3ASML4.4%
4Topicus.com4.0%
5Adyen3.5%
6Allegro.eu3.2%
7Roche3.1%
8Reply3.0%
9Vend Marketplaces ASA3.0%
10Sandoz Group AG2.9%

We publish our full portfolio with an intentional delay to protect the company’s intellectual property.

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 sum due to rounding.

Geographic analysis of total assets

All figures up to: 31 October 2025

Total: 100%

Contact us

Still have a question?  Please get in touch with us.

Insights

Key articles, videos and podcasts relating to the fund:

Filters

Insights

Viewing 33 of 33
  1. Pushing rocks uphill: the case for European equities

    Is this the turning point European investors have been waiting for?
    August 2025
    ArticleLong read
  2. Europe’s turning point

    Chris Davies, joint manager of the European Growth Trust, on Europe's economic transformation.
    July 2025
    Video49 minutes
  3. The Next Chapter

    Baillie Gifford trusts showcase private market focus and AI optimism at annual investment conference.
    May 2025
    ArticleLong read
  4. Atlas Copco: Stock Story

    Ben Drury explores how a culture of innovation and decentralisation drives success in industrial technology.
    March 2025
    Video3 minutes
  5. ASML: Stock Story

    Paul Taylor explores the cutting-edge semiconductor technology advancing the digital revolution.
    March 2025
    Video3 minutes
  6. Europe: unique brands, hidden champions

    Why a long-term approach to the continent’s growth stocks is more relevant than ever.
    March 2025
    Podcast38 minutes
  7. How DSV became global freight’s top dog

    Conquering trade logistics one merger at a time.
    March 2025
    Article5 minutes
  8. European Growth Trust: Manager Insights

    An update on performance, portfolio movements and investment outlook.
    January 2025
    Video5 minutes
  9. Investment specialist Thomas Hodges

    Our best ideas in Europe

    Thomas Hodges uses Lonza, Topicus and Soitec to illustrate why Europe is more exciting than headlines suggest.
    September 2024
    Video3 minutes
  10. Europe's growth gems

    Exploring the European Growth Trust’s dynamic companies and what sets them apart.
    September 2024
    Video47 minutes
  11. Moncler: from mountain to street

    How the outerwear pioneer innovated its way into the fashion elite.
    March 2024
    Article4 minutes
  12. European Growth Trust: Manager Insights

    An update on performance, portfolio positioning and why we believe our holdings remain both resilient and opportunistic.
    January 2024
    Video8 minutes
  13. European growth: time to bargain hunt?

    Stephen Paice outlines where the opportunities lie and the trends driving value creation.
    October 2023
    Video47 minutes
  14. European Equities

    Investment manager, Stephen Paice, discusses the Baillie Gifford approach to European Equities.
    September 2023
    Video3 minutes
  15. The history of the European Growth Trust

    How a trust giving investors access to the European market has found grounds for optimism despite volatility.
    May 2023
    Article
  16. Europe’s new growth stars

    Three companies helping turn the continent from an innovation backwater to a hotspot.
    April 2023
    Article
  17. European Growth Trust: manager insights

    Despite a tough economy, we can still find valuable outliers by investing long term
    January 2023
    Video6 minutes
  18. 50 years of European Growth

    The Baillie Gifford-managed Trust tracked half a century of continental turbulence and triumph.
    December 2022
    Article
  19. Atlas Copco: Sweden’s best kept secret

    Stephen Paice speaks to Matt Reustle on the Business Breakdowns podcast.
    August 2022
    External link
  20. A smörgåsbord of innovation.

    Sweden tops the charts for original thinking, from family businesses to founder-run companies.
    July 2022
    Article
  21. Trip Notes: Helsinki.

    European Growth Trust manager Stephen Paice dips a digital toe into Slush’ event for hot start-ups.
    June 2022
    Article
  22. Growth Investing in Europe.

    In this webinar, Steven Paice discusses why the case for owning growing, innovative companies in Europe is only getting stronger.
    April 2022
    Video44 minutes
  23. Baillie Gifford explains its approach to valuing private companies in investment trust portfolios.
    April 2022
    Article
  24. European Equities Manager Update.

    When the going gets tough, exceptional companies keep going. Stephen Paice on Europe’s best.
    Video9 minutes
  25. Kepler Research Report - Baillie Gifford European Growth Trust

    Kepler’s latest research report. Please note that this is paid for research.
    January 2022
    Document
  26. Baillie Gifford European Growth Trust AGM.

    Moritz Sitte, co-manager of the Baillie Gifford European Growth Trust, gives an update on investment philosophy, portfolio activity and positioning, and outlook.
    January 2022
    Video7 minutes
  27. sennder’s co-founder explains how its software platform helps truckers carry fuller loads.
    August 2021
    Article
  28. Baillie Gifford European Growth Trust Webinar.

    Richard Lander of Citywire hosts a webinar on the European Growth Trust and is joined by Stephen Paice, co-manager of the trust, who aims to answer the question: Are you investing in the right Europe?
    April 2021
    Video51 minutes
  29. Europe's digital ambitions

    European companies have quietly built up some of the world’s largest digital platforms for commerce. The next stage will be anything but quiet, Stephen Paice and Moritz Sitte, joint managers of Baillie Gifford European Growth Trust, tell Heather Farmbrough.
    April 2024
    Document
  30. Are You Investing In The Right Europe?

    Client Director Stuart Dunbar is joined by Stephen Paice, Head of the European Equity Team and Moritz Sitte, portfolio manager of our European funds, to discuss the question ‘Are you investing in the right Europe?’.
    March 2021
    Video59 minutes
  31. Baillie Gifford European Growth Trust AGM.

    Stephen Paice, investment manager of the Baillie Gifford European Growth Trust plc, gives an update on investment philosophy, performance, portfolio positioning and outlook.
    January 2021
    Video10 minutes
  32. How COVID is changing the way we shop

    The digital disruption of the high street accelerated during the pandemic. Baillie Gifford’s Moritz Sitte explores the innovative ways in which European retailers are reshaping the future of shopping.
    December 2020
    Document
  33. European stock stories

    Investment managers Stephen Paice and Moritz Sitte give some examples of European companies that tick all the boxes and show exciting growth potential.
    March 2020
    Video5 minutes

  1. Pushing rocks uphill: the case for European equities

    Is this the turning point European investors have been waiting for?
    August 2025
    ArticleLong read
  2. Europe’s turning point

    Chris Davies, joint manager of the European Growth Trust, on Europe's economic transformation.
    July 2025
    Video49 minutes
  3. The Next Chapter

    Baillie Gifford trusts showcase private market focus and AI optimism at annual investment conference.
    May 2025
    ArticleLong read
  4. Atlas Copco: Stock Story

    Ben Drury explores how a culture of innovation and decentralisation drives success in industrial technology.
    March 2025
    Video3 minutes
  5. ASML: Stock Story

    Paul Taylor explores the cutting-edge semiconductor technology advancing the digital revolution.
    March 2025
    Video3 minutes
  6. Europe: unique brands, hidden champions

    Why a long-term approach to the continent’s growth stocks is more relevant than ever.
    March 2025
    Podcast38 minutes
  7. How DSV became global freight’s top dog

    Conquering trade logistics one merger at a time.
    March 2025
    Article5 minutes
  8. European Growth Trust: Manager Insights

    An update on performance, portfolio movements and investment outlook.
    January 2025
    Video5 minutes
  9. Investment specialist Thomas Hodges

    Our best ideas in Europe

    Thomas Hodges uses Lonza, Topicus and Soitec to illustrate why Europe is more exciting than headlines suggest.
    September 2024
    Video3 minutes
  10. Europe's growth gems

    Exploring the European Growth Trust’s dynamic companies and what sets them apart.
    September 2024
    Video47 minutes
  11. Moncler: from mountain to street

    How the outerwear pioneer innovated its way into the fashion elite.
    March 2024
    Article4 minutes
  12. European Growth Trust: Manager Insights

    An update on performance, portfolio positioning and why we believe our holdings remain both resilient and opportunistic.
    January 2024
    Video8 minutes
  13. European growth: time to bargain hunt?

    Stephen Paice outlines where the opportunities lie and the trends driving value creation.
    October 2023
    Video47 minutes
  14. European Equities

    Investment manager, Stephen Paice, discusses the Baillie Gifford approach to European Equities.
    September 2023
    Video3 minutes
  15. The history of the European Growth Trust

    How a trust giving investors access to the European market has found grounds for optimism despite volatility.
    May 2023
    Article
  16. Europe’s new growth stars

    Three companies helping turn the continent from an innovation backwater to a hotspot.
    April 2023
    Article
  17. European Growth Trust: manager insights

    Despite a tough economy, we can still find valuable outliers by investing long term
    January 2023
    Video6 minutes
  18. 50 years of European Growth

    The Baillie Gifford-managed Trust tracked half a century of continental turbulence and triumph.
    December 2022
    Article
  19. Atlas Copco: Sweden’s best kept secret

    Stephen Paice speaks to Matt Reustle on the Business Breakdowns podcast.
    August 2022
    External link
  20. A smörgåsbord of innovation.

    Sweden tops the charts for original thinking, from family businesses to founder-run companies.
    July 2022
    Article
  21. Trip Notes: Helsinki.

    European Growth Trust manager Stephen Paice dips a digital toe into Slush’ event for hot start-ups.
    June 2022
    Article
  22. Growth Investing in Europe.

    In this webinar, Steven Paice discusses why the case for owning growing, innovative companies in Europe is only getting stronger.
    April 2022
    Video44 minutes
  23. Valuing private companies.

    Baillie Gifford explains its approach to valuing private companies in investment trust portfolios.
    April 2022
    Article
  24. European Equities Manager Update.

    When the going gets tough, exceptional companies keep going. Stephen Paice on Europe’s best.
    Video9 minutes
  25. Kepler Research Report - Baillie Gifford European Growth Trust

    Kepler’s latest research report. Please note that this is paid for research.
    January 2022
    Document
  26. Baillie Gifford European Growth Trust AGM.

    Moritz Sitte, co-manager of the Baillie Gifford European Growth Trust, gives an update on investment philosophy, portfolio activity and positioning, and outlook.
    January 2022
    Video7 minutes
  27. sennder: Helping Truckers Cut Costs and Carbon.

    sennder’s co-founder explains how its software platform helps truckers carry fuller loads.
    August 2021
    Article
  28. Baillie Gifford European Growth Trust Webinar.

    Richard Lander of Citywire hosts a webinar on the European Growth Trust and is joined by Stephen Paice, co-manager of the trust, who aims to answer the question: Are you investing in the right Europe?
    April 2021
    Video51 minutes
  29. Europe's digital ambitions

    European companies have quietly built up some of the world’s largest digital platforms for commerce. The next stage will be anything but quiet, Stephen Paice and Moritz Sitte, joint managers of Baillie Gifford European Growth Trust, tell Heather Farmbrough.
    April 2024
    Document
  30. Are You Investing In The Right Europe?

    Client Director Stuart Dunbar is joined by Stephen Paice, Head of the European Equity Team and Moritz Sitte, portfolio manager of our European funds, to discuss the question ‘Are you investing in the right Europe?’.
    March 2021
    Video59 minutes
  31. Baillie Gifford European Growth Trust AGM.

    Stephen Paice, investment manager of the Baillie Gifford European Growth Trust plc, gives an update on investment philosophy, performance, portfolio positioning and outlook.
    January 2021
    Video10 minutes
  32. How COVID is changing the way we shop

    The digital disruption of the high street accelerated during the pandemic. Baillie Gifford’s Moritz Sitte explores the innovative ways in which European retailers are reshaping the future of shopping.
    December 2020
    Document
  33. European stock stories

    Investment managers Stephen Paice and Moritz Sitte give some examples of European companies that tick all the boxes and show exciting growth potential.
    March 2020
    Video5 minutes

Contact us

Still have a question?  Please get in touch with us.

How to buy

You can invest in our funds via a number of fund platforms. Information on the range of funds available through platforms can be obtained from platforms@bailliegifford.com

Further information on the funds can be found in the relevant Key Information Documents, which are available in English and will be sent to you free of charge on request.

Contact us

Still have a question?  Please get in touch with us.

Documents

You can access any literature about the Fund here.

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.

Contact us

Still have a question?  Please get in touch with us.