1. Overview

    The Fund invests in sustainable growth companies. It mitigates Environmental, Social and Governance (ESG) risks by applying 'sin sector' exclusions, and then seeks to identify ESG opportunities by focusing on companies which our research suggests are a net benefit to society, which balance the interests of all stakeholders, and which exhibit a responsible culture. The Portfolio Construction Group (PCG) is made up of experienced investors and ESG specialists, who provide challenge, context and comparison when building a concentrated portfolio of 70-100 stocks.

    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 Sector.

    Our purpose as sustainable growth investors is to integrate ESG and investment with an unashamedly optimistic mindset.

    Portfolio

    Top Ten Holdings - 31/05/2022

    Fund %
    1 Tesla Inc 3.8%
    2 TSMC 3.7%
    3 NVIDIA 3.2%
    4 Pacira BioSciences 2.8%
    5 MarketAxess 2.6%
    6 IMCD 2.5%
    7 FANUC 2.4%
    8 AIA 2.3%
    9 First Republic Bank 2.2%
    10 Shopify 2.0%
    Total 27.6%
    GEOGRAPHIC ANALYSIS OF TOTAL ASSETS - 31/05/2022

    Fund %

    • 1 United States 45.93
    • 2 Japan 13.75
    • 3 China 7.12
    • 4 UK 5.88
    • 5 Sweden 4.58
    • 6 Taiwan 3.71
    • 7 Hong Kong 3.25
    • 8 France 2.63
    • 9 Netherlands 2.51
    • 10 Canada 2.04
    • 11 Others 7.66
    • 12 Cash 0.92
    • Total 100.0

    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.

    Meet the Team

    Toby Ross

    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.

    Matthew Brett

    Matthew is an Investment Manager in the Japanese Equities Team and has been a member of the Global Stewardship Portfolio Construction Group since its inception. He is manager of the Japanese All Cap Strategy and Lead Manager of the Japanese Income Growth Strategy. Matthew joined Baillie Gifford in 2003 and became a Partner in 2018. He is a CFA Charterholder. Matthew graduated BA (Hons) in Natural Sciences (Psychology) from the University of Cambridge in 2000 and holds a PhD in Psychology from the University of Bristol.

    Mike Gush

    Mike has been involved with the Global Stewardship strategy since inception as a member of the Portfolio Construction Group. He is a named manager for Baillie Gifford’s Emerging Markets and China Funds, as well as being responsible for the Emerging Markets Small Cap strategy. Mike first joined Baillie Gifford in 2003 and before moving to the Emerging Markets Equity Team in 2005, Mike worked in the UK and Japanese Equity Teams. Mike became a Partner of the firm in 2020. He is a CFA Charterholder and graduated MEng from the University of Durham in 2003.

    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.

    Zaki Sabir

    Zaki joined Baillie Gifford in 2007 and in 2017 he became a member of the Global Stewardship Portfolio Construction Group. He is a Senior Analyst in the Global Discovery Investment Team. Zaki graduated BA in Business Accounting and Finance from the University of Newcastle in 2006.

    Craig Noble

    Craig is a Senior Analyst in the ESG Team and a recent addition to the Global Stewardship Portfolio Construction Group. He first joined Baillie Gifford in 2015 via the Investment Operations Graduate Scheme where he spent two years rotating through eighteen secondments in different departments across the firm. Craig graduated with a BSc (Hons) in Business and an MSc in Finance, both from Lancaster University Management School. As a dedicated sustainability analyst for the Global Stewardship strategy, Craig has a particular interest in the opportunity side of sustainable investment and maintains a firm belief that ESG is a complex and nuanced area, which fits with his passion for in-depth research.

    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.

    How to Buy

    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).

    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.

    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.

    Emerging Markets

    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.

    Responsible Investment

    The Fund invests according to responsible investment criteria and with reference to the ten principles of the United Nations Global Compact for business. This means the Fund will not invest in certain sectors and companies and, therefore, the universe of available investments will be more limited than other funds that do not apply such criteria/ exclusions. The Fund therefore may have different returns than a fund which has no such restrictions.

    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.

    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.

    Tax Rates

    Tax rates and the tax treatment of OEICs can change at any time.