GLOBAL INCOME GROWTH FUNDGLOBAL INCOME GROWTH FUND
The Global Income Growth Fund aims to achieve (after deduction of costs) growth in both income and capital over rolling five-year periods, whilst delivering a yield higher than that of the MSCI ACWI Index. 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 Global Equity Income Sector.
Our Global Income Growth Fund invests in companies which have durable competitive advantages and attractive growth opportunities.
Performance & PortfolioPeriodic PerformanceAll figures to 31/03/2021
6 Months 1 Year 3 Years 5 Years Class B-Inc 7.2% 33.4% 12.8% 13.6% Target Benchmark** 12.6% 39.6% 13.3% 14.7% Sector Average*** 14.1% 32.0% 8.9% 9.8% Sector Ranking 46/54 21/54 7/49 3/40Annual Discrete Performance figures to 31 March each yearAnnual percentage return (Updated Quarterly) 31/03/2016
Class B-Inc 28.5% 2.5% 9.7% -1.8% 33.4% Target Benchmark** 33.0% 2.9% 11.1% -6.2% 39.6% Sector Average*** 25.4% -1.4% 8.5% -9.8% 32.0%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.
**MSCI ACWI Index.
***IA Global Equity Income Sector.Performance - 31/03/2021The value of your investment may go down as well as up, and you may not get back the amount you invested.
*FTSE All World Index (25% FTSE All Share / 75% FTSE All World ex UK prior to 31 May 2012).
Source: FE and relevant underlying index provider(s), single pricing basis, total return.
Please bear in mind that past performance is not a guide to future performance.
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Top Ten Holdings - 31/03/2021
Fund % 1 TSMC 3.8% 2 United Parcel Service 3.5% 3 Fastenal 3.1% 4 Sonic Healthcare 3.0% 5 Procter & Gamble 2.9% 6 Microsoft 2.9% 7 Anta Sports Products 2.9% 8 Admiral Group 2.8% 9 Roche 2.8% 10 Partners 2.7% Total 30.3% Fund % 1 TSMC 3.8% 2 United Parcel Service 3.5% 3 Fastenal 3.1% 4 Sonic Healthcare 3.0% 5 Procter & Gamble 2.9% 6 Microsoft 2.9% 7 Anta Sports Products 2.9% 8 Admiral Group 2.8% 9 Roche 2.8% 10 Partners 2.7% Total 30.3%Sector Analysis of Total Assets - 31/03/2021Cash - this figure excludes revenue cash.
As 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.
InsightsView all Insights.March 2021
Highlights Video: Beyond The Great Dividend Crisis.
In this recording, Investment Specialist Seb Petit highlights the main takeaways from a recent webinar with James Dow and Toby Ross, co-heads of the Global Income Growth Team. Dow and Ross outline how a long-term approach and a growth mindset helped them navigate the great dividend crisis of 2020.March 2021
Featuring the news and views of the teams involved in running our funds.February 2021
Beyond The Great Dividend Crisis.
In this webinar recording, client director Seb Petit talks to James Dow and Toby Ross, co-heads of the Global Income Growth Team. Dow and Ross outline how a long-term approach and a growth mindset helped them navigate the great dividend crisis of 2020.November 2020
Featuring the news and views of the teams involved in running our fundsNovember 2020
Paying Their Dues.
During the global pandemic, it has been reassuring to see many of the management teams we invest alongside prioritising the long-term health of the business over short-term profit margins. Now, as Toby Ross explains, the focus is switching to how those attitudes can help to address other important issues, particularly climate change.July 2020
Searching for Tomorrow’s Income Aristocrats.
Income investing has been shaken by the coronavirus, but how will this affect the dividend payers of the future? Baillie Gifford investment manager James Dow gives us a glimpse of the potential star performers of tomorrow.July 2020
Navigating the Great Dividend Crisis.
Co-head of the Baillie Gifford Equity Income Team James Dow delivers a webinar giving insight into his thoughts on how investors can navigate the current global dividend crisis.June 2020
Featuring the news and views of the teams involved in running our funds.May 2020
Actual Income - The Great Dividend Crisis.
James Dow argues that dividend investors should avoid traditional high-yielding stocks and instead, look ahead to the global, high-growth companies likely to be big providers of the future.April 2020
The Great Dividend Crisis.
James Dow, co-head of Baillie Gifford’s equity income strategies, argues that dividend investors should avoid traditional high-yielding stocks, which are likely to disappoint given probable constraints on their reverting to the pre-crisis mean. The task, he concludes, is to look ahead to the global, high growth companies likely to be big providers of the future.
View all Insights.
Meet the Managers
James was appointed Co-Head of the Global Income Growth Team and Co-Manager of The Scottish American Investment Company PLC (SAINTS) in 2017. He joined Baillie Gifford in 2004 on the Graduate Scheme and became an Investment Manager in our US Equities team. Previously, James spent three years working at The Scotsman newspaper, where he was the Economics Editor. He is a CFA Charterholder, graduated MA (Hons) in Economics-Philosophy from the University of St Andrews in 2000 and MSc in Development Studies from the London School of Economics in 2001.
Toby joined Baillie Gifford in 2006 and is Co-Head of the Global Income Growth Team and Joint Manager of The Scottish American Investment Company PLC (SAINTS). He has also been a member of the International Alpha Portfolio Construction Group since 2018. Since joining Baillie Gifford, Toby has also spent time as an Investment Analyst in the UK Equity Team and as a Global Sector Specialist. He graduated MA in English Literature from the University of Cambridge in 2006 and is a CFA Charterholder.
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.
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.
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.
Enhanced Disclosure Document
Fund Ratings Reports
Key Investor Information Documents
Philosophy and Process Documents
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 of assets involves a risk of loss if a custodian becomes insolvent or breaches duties of care.
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.
The Fund invests in emerging markets where difficulties in dealing, settlement and custody could arise, resulting in a negative impact on the value of your investment.
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.
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 to Capital
For distribution purposes the Authorised Corporate Director (ACD) has the facility to allocate some or all expenses to capital. This will reduce the capital value of the Fund. For the year to 31 January 2020 91% of expenses were allocated to capital. The figure for the current financial period has not yet been determined however this number will vary from year to year.
Tax rates and the tax treatment of OEICs can change at any time.