Capital at risk

Baillie Gifford UK Growth Trust

A concentrated, bespoke, high-conviction, actively managed best ideas portfolio of listed and private UK growth businesses. The Company’s patient approach allows investee companies’ strengths and sustainable competitive advantages to drive share prices.

A night time scene of people crossing Millenium Bridge, in front of St Pauls's Cathederal, London.

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Overview

ISIN

GB0007913485

SEDOL

0791348

Investment proposition

The principal investment objective of the Company is to achieve capital growth predominantly from investment in UK equities, with the aim of providing a total return in excess of the FTSE All-Share Index.

Share price and charges

Price

203.00p

NAV at fair

226.24p

Premium (+) or discount (-) at fair

-10.3%

Ongoing charges*

0.71%

Fund facts

Active share

90%*

Fund launch date

1994

AIC Investment Sector

UK All Companies

Benchmark

FTSE All-Share Index

Past performance is not a guide to future returns.

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

The portfolio is a high conviction, concentrated selection of our best ideas in the UK with a bias to mid and smaller cap growth companies, where we intuitively believe the growth spot for UK equities to be.

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.

AGM, voting and registrar details

AGM

Wednesday 3 September 2025 at 12:00 noon at 1 Moorgate Place, City of London, EC2R 6EA.

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.

UK 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:

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.

Single Country

The Trust's exposure to a single market may increase risk.

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
19.7%
49.0%
27.0%
72.3%
NAV
15.2%
42.2%
32.5%
66.3%
Index*
22.5%
50.9%
98.6%
116.3%

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
31.5%
-36.3%
10.3%
19.1%
14.5%
NAV
23.8%
-27.8%
9.4%
18.1%
10.5%
Index*
27.9%
-4.0%
13.8%
13.4%
16.2%

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
1Games Workshop6.7%
2Volution Group6.1%
3Auto Trader5.5%
4AJ Bell4.8%
5St. James's Place4.6%
6Experian4.5%
7Wise4.4%
8Howden Joinery4.2%
94imprint 3.5%
10Kainos3.4%

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

As the Fund 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.

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.

Sector Analysis

All figures up to: 31 October 2025

Total: 99%

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 29 of 29
  1. Our best UK ideas

    Chloe Darling-Stewart on why the UK’s Autotrader, Moonpig and Genus are hidden treasures.
    September 2025
    Video3 minutes
  2. The power of purpose

    Why firms with a passion to improve customers’ lives do better.
    September 2025
    Article5 minutes
  3. UK Growth Trust: Manager Insights

    Iain McCombie on portfolio performance, turnover and investment opportunities.
    September 2025
    Video7 minutes
  4. A compelling opportunity: the UK is on offer

    Iain McCombie shares his views on the UK Growth Trust's performance and the current market conditions.
    June 2025
    Video6 minutes
  5. The Next Chapter

    Baillie Gifford trusts showcase private market focus and AI optimism at annual investment conference.
    May 2025
    ArticleLong read
  6. UK growth: opportunities amid tariff turbulence

    How adaptable firms in growth-driving sectors can prosper over the long term despite trade restrictions.
    April 2025
    Podcast33 minutes
  7. UK Growth Trust: investing in the UK's best growth companies

    The UK Growth Trust's approach to finding innovative companies, managing discounts and capitalising on long-term trends.
    February 2025
    Video45 minutes
  8. Private investor forum: growth on sale

    Why it pays to keep faith in the company fundamentals
    October 2024
    Article6 minutes
  9. Creo Medical: at the spearhead of surgery

    The Welsh company cutting surgery waiting lists – and costs.
    September 2024
    Article7 minutes
  10. UK Growth Trust: a 2024 perspective

    Iain McCombie discusses the UK Growth Trust's strategy and outlook in 2024.
    August 2024
    Video41 minutes
  11. UK Growth Trust: Manager Insights

    An update on portfolio performance, turnover and investment opportunities.
    August 2024
    Video7 minutes
  12. UK Growth Trust: manager update

    Iain McCombie and Milena Mileva on navigating growth investment in volatile markets.
    July 2024
    Video38 minutes
  13. Ashtead: hiding in plain sight

    This little-known equipment rental company is one of the UK’s most exciting growth stories.
    December 2023
    Article5 minutes
  14. Quoted Data research report - Baillie Gifford UK Growth Trust

    Quoted Data's latest research report. Please note that this is paid for research.
    September 2023
    Document
  15. Joiners’ mate

    Iain McCombie on how Howdens’ kitchens won the building trade’s trust.
    September 2023
    Article
  16. UK Growth Trust: Manager Insights

    An update on portfolio performance, turnover and investment opportunities.
    September 2023
    Video7 minutes
  17. Baillie Gifford UK Growth Trust plc webinar

    UK Equities: A fantastic hunting ground for long-term growth investors.
    July 2023
    Video44 minutes
  18. Long term growth opportunities in the UK: Baillie Gifford UK Growth Trust plc

    Join co-managers Iain McCombie and Milena Mileva as they discuss the key traits of their long-term investing philosophy.
    October 2022
    Video42 minutes
  19. UK Growth Trust: home focus

    Companies solving big problems in healthcare, fintech and AI, are proving the UK is an exciting place to invest.
    September 2022
    Article
  20. UK Growth Trust Manager Insights

    In volatile times, focusing on the fundamental long-term opportunities of our holdings is key.
    September 2022
    Video6 minutes
  21. Baillie Gifford explains its approach to valuing private companies in investment trust portfolios.
    April 2022
    Article
  22. Baillie Gifford UK Growth Trust plc Manager Insights.

    Investment manager Milena Mileva gives an update on the philosophy, positioning and activity of the Baillie Gifford UK Growth Trust portfolio.
    July 2021
    Video8 minutes
  23. Take-off platforms

    Online trading platforms have transformed the way we put our money to work. Iain McCombie, joint manager of the Baillie Gifford UK Growth Fund, tells Faith Glasgow how these companies brought financial power to the people.
    April 2021
    Document
  24. Baillie Gifford UK Growth Fund PLC.

    Client contact Anzelm Cydzik talks to investment managers of the Baillie Gifford UK Growth Fund Milena Mileva and Iain McCombie. They discuss the key traits of their long-term investment philosophy, current portfolio positioning and the importance of resisting temptation to trade too often.
    March 2021
    Video0 minute
  25. Fantasy Figures: Games Workshop

    With hits like Warhammer, this gaming company inspires a sense of community which brings huge growth potential
    Autumn 2020
    Article
  26. UK Growth Fund Manager Update.

    Investment manager Iain McCombie gives an update on the positioning and activity of the Baillie Gifford UK Growth Fund portfolio.
    July 2020
    Video9 minutes
  27. UK Stock Stories - Abcam and Homeserve

    Investment managers Iain McCombie and Milena Mileva give some examples of companies within the UK portfolio that show exciting growth potential.
    March 2020
    Video6 minutes
  28. Baillie Gifford UK Growth Fund plc - Stock Stories.

    Investment managers Iain McCombie and Milena Mileva give an update on the Baillie Gifford UK Growth Fund plc and discuss some examples of companies within the portfolio that show exciting growth potential.
    Third Quarter 2019
    Video0 minute
  29. Fashion retailers: the impact of online shopping

    In the fourth episode of Short Briefings on Long Term Thinking, Malcolm Borthwick is joined by Milena Mileva to discuss how profound changes in consumer behaviour are changing the retail landscape both online and in bricks-and-mortar stores.
    May 2019
    Podcast18 minutes

  1. Our best UK ideas

    Chloe Darling-Stewart on why the UK’s Autotrader, Moonpig and Genus are hidden treasures.
    September 2025
    Video3 minutes
  2. The power of purpose

    Why firms with a passion to improve customers’ lives do better.
    September 2025
    Article5 minutes
  3. UK Growth Trust: Manager Insights

    Iain McCombie on portfolio performance, turnover and investment opportunities.
    September 2025
    Video7 minutes
  4. A compelling opportunity: the UK is on offer

    Iain McCombie shares his views on the UK Growth Trust's performance and the current market conditions.
    June 2025
    Video6 minutes
  5. The Next Chapter

    Baillie Gifford trusts showcase private market focus and AI optimism at annual investment conference.
    May 2025
    ArticleLong read
  6. UK growth: opportunities amid tariff turbulence

    How adaptable firms in growth-driving sectors can prosper over the long term despite trade restrictions.
    April 2025
    Podcast33 minutes
  7. UK Growth Trust: investing in the UK's best growth companies

    The UK Growth Trust's approach to finding innovative companies, managing discounts and capitalising on long-term trends.
    February 2025
    Video45 minutes
  8. Private investor forum: growth on sale

    Why it pays to keep faith in the company fundamentals
    October 2024
    Article6 minutes
  9. Creo Medical: at the spearhead of surgery

    The Welsh company cutting surgery waiting lists – and costs.
    September 2024
    Article7 minutes
  10. UK Growth Trust: a 2024 perspective

    Iain McCombie discusses the UK Growth Trust's strategy and outlook in 2024.
    August 2024
    Video41 minutes
  11. UK Growth Trust: Manager Insights

    An update on portfolio performance, turnover and investment opportunities.
    August 2024
    Video7 minutes
  12. UK Growth Trust: manager update

    Iain McCombie and Milena Mileva on navigating growth investment in volatile markets.
    July 2024
    Video38 minutes
  13. Ashtead: hiding in plain sight

    This little-known equipment rental company is one of the UK’s most exciting growth stories.
    December 2023
    Article5 minutes
  14. Quoted Data research report - Baillie Gifford UK Growth Trust

    Quoted Data's latest research report. Please note that this is paid for research.
    September 2023
    Document
  15. Joiners’ mate

    Iain McCombie on how Howdens’ kitchens won the building trade’s trust.
    September 2023
    Article
  16. UK Growth Trust: Manager Insights

    An update on portfolio performance, turnover and investment opportunities.
    September 2023
    Video7 minutes
  17. Baillie Gifford UK Growth Trust plc webinar

    UK Equities: A fantastic hunting ground for long-term growth investors.
    July 2023
    Video44 minutes
  18. Long term growth opportunities in the UK: Baillie Gifford UK Growth Trust plc

    Join co-managers Iain McCombie and Milena Mileva as they discuss the key traits of their long-term investing philosophy.
    October 2022
    Video42 minutes
  19. UK Growth Trust: home focus

    Companies solving big problems in healthcare, fintech and AI, are proving the UK is an exciting place to invest.
    September 2022
    Article
  20. UK Growth Trust Manager Insights

    In volatile times, focusing on the fundamental long-term opportunities of our holdings is key.
    September 2022
    Video6 minutes
  21. Valuing private companies.

    Baillie Gifford explains its approach to valuing private companies in investment trust portfolios.
    April 2022
    Article
  22. Baillie Gifford UK Growth Trust plc Manager Insights.

    Investment manager Milena Mileva gives an update on the philosophy, positioning and activity of the Baillie Gifford UK Growth Trust portfolio.
    July 2021
    Video8 minutes
  23. Take-off platforms

    Online trading platforms have transformed the way we put our money to work. Iain McCombie, joint manager of the Baillie Gifford UK Growth Fund, tells Faith Glasgow how these companies brought financial power to the people.
    April 2021
    Document
  24. Baillie Gifford UK Growth Fund PLC.

    Client contact Anzelm Cydzik talks to investment managers of the Baillie Gifford UK Growth Fund Milena Mileva and Iain McCombie. They discuss the key traits of their long-term investment philosophy, current portfolio positioning and the importance of resisting temptation to trade too often.
    March 2021
    Video0 minute
  25. Fantasy Figures: Games Workshop

    With hits like Warhammer, this gaming company inspires a sense of community which brings huge growth potential
    Autumn 2020
    Article
  26. UK Growth Fund Manager Update.

    Investment manager Iain McCombie gives an update on the positioning and activity of the Baillie Gifford UK Growth Fund portfolio.
    July 2020
    Video9 minutes
  27. UK Stock Stories - Abcam and Homeserve

    Investment managers Iain McCombie and Milena Mileva give some examples of companies within the UK portfolio that show exciting growth potential.
    March 2020
    Video6 minutes
  28. Baillie Gifford UK Growth Fund plc - Stock Stories.

    Investment managers Iain McCombie and Milena Mileva give an update on the Baillie Gifford UK Growth Fund plc and discuss some examples of companies within the portfolio that show exciting growth potential.
    Third Quarter 2019
    Video0 minute
  29. Fashion retailers: the impact of online shopping

    In the fourth episode of Short Briefings on Long Term Thinking, Malcolm Borthwick is joined by Milena Mileva to discuss how profound changes in consumer behaviour are changing the retail landscape both online and in bricks-and-mortar stores.
    May 2019
    Podcast18 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.