Overview
ISIN
GB00BZ3G2258SEDOL
BZ3G225Fund objective
The UK Equity Core Growth Fund aims to outperform (after deduction of costs) the FTSE All-Share Index, over rolling five-year 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 UK All Companies Sector.
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.
Investment proposition
Share price and charges
Share class
B, AccPrice
140.60p% change
-0.92%Yield
2.2%Ex-dividend (XD)
NOngoing charges*
0.44%Initial charge
0%Minimum investment
£100,000Minimum top up
£1,000Sustainability label
Sustainable investment labels help investors find products that have a specific sustainability goal. This product does not have a UK sustainable investment label. This product promotes environmental and/or social characteristics but does not meet the requirements to adopt a label. More details can be found in the product’s SDR Sustainability-related Disclosure Document found within the documents section of the website.
Fund facts
Fund launch date
17 January 2018
Fund size
£206.61m
The Investment Association sector
UK All Companies
Comparative Index
FTSE All-Share Index
Active share
70%**
Annual turnover
15%
Guideline number of holdings
45-65
Current number of holdings
55
Style
Growth
XD Date
Last day of December and June each year
Distribution
Last day of February and August each year
Pricing
Valuation point 10am daily, swinging single price
Fund settlement cycle
Trade date plus three business days (T+3)
**Relative to FTSE All-Share Index. Source: Baillie Gifford & Co, FTSE.
Meet the managers
Risk Warnings
Risk Introduction
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. The specific risks associated with the Fund include:
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 may increase share price movements.
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.
Further Information
Further details of the risks associated with investing in the Fund can be found in the Key Investor Information Document or the Prospectus, copies of which are available at bailliegifford.com.
Index disclaimer
Fund performance
Periodic performance
As at: 30 April 2026
1 Month | 3 Months | 6 Months | 1 Year | 3 Years | 5 Years | |
|---|---|---|---|---|---|---|
Class B-Acc | 4.2% | -4.0% | -3.3% | 11.7% | 7.9% | 3.7% |
Index* | 2.8% | 2.1% | 8.0% | 25.2% | 13.1% | 10.8% |
Sector Average** | 4.1% | -0.5% | 2.8% | 16.5% | 9.0% | 5.7% |
Sector Ranking | 81/204 | 181/205 | 179/205 | 145/205 | 123/196 | 126/189 |
Figures for 3 and 5 years are shown as the annualised rate of return. This is the average yearly return over the specified period.
Annual discrete performance
As at: 31 March 2026
31/03/2021 – 31/03/2022 | 31/03/2022 – 31/03/2023 | 31/03/2023 – 31/03/2024 | 31/03/2024 – 31/03/2025 | 31/03/2025 – 31/03/2026 | |
|---|---|---|---|---|---|
Class B-Acc | -0.1% | -2.0% | 6.4% | 7.0% | 7.1% |
Index* | 13.0% | 2.9% | 8.4% | 10.5% | 21.5% |
Sector Average** | 5.4% | -1.9% | 7.7% | 5.1% | 13.0% |
Fund portfolio holdings
The list of top 10 holdings that this fund invests in.
As at: 30 April 2026
| # | Holding | % of total assets |
|---|---|---|
| 1 | AstraZeneca | 6.5% |
| 2 | Rio Tinto | 5.3% |
| 3 | HSBC | 5.0% |
| 4 | Standard Chartered | 4.9% |
| 5 | Prudential | 4.0% |
| 6 | Marks and Spencer Group | 3.2% |
| 7 | Babcock International Group | 3.1% |
| 8 | Legal & General | 2.9% |
| 9 | Unilever | 2.7% |
| 10 | Bunzl | 2.7% |
Sector
As at: 30 April 2026
# | Sector | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | Financials | 25.6 | 29.0 | -3.4 |
| 2 | Industrials | 23.4 | 11.8 | 11.5 |
| 3 | Consumer Discretionary | 13.3 | 6.1 | 7.2 |
| 4 | Health Care | 9.5 | 12.0 | -2.5 |
| 5 | Consumer Staples | 9.5 | 12.5 | -3.0 |
| 6 | Technology | 7.2 | 2.5 | 4.6 |
| 7 | Basic Materials | 5.3 | 7.8 | -2.5 |
| 8 | Real Estate | 4.2 | 1.9 | 2.3 |
| 9 | Utilities | 1.7 | 4.8 | -3.1 |
| 10 | Cash | 0.3 | 0.0 | 0.3 |
Total | 100.0 | 88.4 |
Quarterly transactions
Transactions for the three-month period ending 31 March 2026
New purchases
- HSBC
- Softcat
Complete sales
- Ashtead
- Just Group
- Ocado
- Trainline Plc
Additions
- AstraZeneca
- Baltic Classifieds Group Plc
Reductions
- Persimmon
- St. James's Place
- Standard Chartered
Insights
Key articles, videos and podcasts relating to the fund:
Filters
Insights
UK Core Q1 update
Investment specialist Kathleen Hunter reflects on recent performance, portfolio changes and market developments.
UK Core Q4 update
Investment manager James Smith reflects on recent performance, portfolio changes and market developments.
UK Core Q3 update
Investment manager James Smith reflects on recent performance, portfolio changes and market developments.
Our best UK ideas
Chloe Darling-Stewart on why the UK’s Autotrader, Moonpig and Genus are hidden treasures.
The power of purpose
Why firms with a passion to improve customers’ lives do better.
UK Core Q2 update
Investment manager Iain McCombie reflects on recent performance, portfolio changes and market developments.
UK growth: opportunities amid tariff turbulence
How adaptable firms in growth-driving sectors can prosper over the long term despite trade restrictions.
UK Core Q1 update
The UK Core Team reflects on recent performance, portfolio changes and market developments.
Stock story: Diploma
Iain McCombie explores Diploma's journey to distribution excellence
Ashtead: hiding in plain sight
This little-known equipment rental company is one of the UK’s most exciting growth stories.
UK equities: growth on our doorstep
Our specialist approach is well-placed to take advantage of early-stage British businesses.
The case for UK equities
Baillie Gifford’s Iain McCombie discusses UK equities on Hymans Robertson’s investment podcast.
Joiners’ mate
Iain McCombie on how Howdens’ kitchens won the building trade’s trust.
Ocado’s robot revolution
The UK firm partnering with leading grocers to deploy its automated warehouses worldwide.
UK Equities – Time for a closer look
Our economy may have taken a battering, but Kathleen MacMillan, UK equity investment specialist, finds plenty of compelling reasons to invest in British businesses.
UK Stock Stories – Fantasy Figures
Milena Mileva, manager of the Baillie Gifford UK Equity Focus Fund talks about Games Workshop – a firm with a fanatical following.
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.
UK Core Q1 update
Investment specialist Kathleen Hunter reflects on recent performance, portfolio changes and market developments.UK Core Q4 update
Investment manager James Smith reflects on recent performance, portfolio changes and market developments.UK Core Q3 update
Investment manager James Smith reflects on recent performance, portfolio changes and market developments.Our best UK ideas
Chloe Darling-Stewart on why the UK’s Autotrader, Moonpig and Genus are hidden treasures.The power of purpose
Why firms with a passion to improve customers’ lives do better.UK Core Q2 update
Investment manager Iain McCombie reflects on recent performance, portfolio changes and market developments.UK growth: opportunities amid tariff turbulence
How adaptable firms in growth-driving sectors can prosper over the long term despite trade restrictions.UK Core Q1 update
The UK Core Team reflects on recent performance, portfolio changes and market developments.Stock story: Diploma
Iain McCombie explores Diploma's journey to distribution excellenceAshtead: hiding in plain sight
This little-known equipment rental company is one of the UK’s most exciting growth stories.UK equities: growth on our doorstep
Our specialist approach is well-placed to take advantage of early-stage British businesses.The case for UK equities
Baillie Gifford’s Iain McCombie discusses UK equities on Hymans Robertson’s investment podcast.Joiners’ mate
Iain McCombie on how Howdens’ kitchens won the building trade’s trust.Ocado’s robot revolution
The UK firm partnering with leading grocers to deploy its automated warehouses worldwide.UK Equities – Time for a closer look
Our economy may have taken a battering, but Kathleen MacMillan, UK equity investment specialist, finds plenty of compelling reasons to invest in British businesses.UK Stock Stories – Fantasy Figures
Milena Mileva, manager of the Baillie Gifford UK Equity Focus Fund talks about Games Workshop – a firm with a fanatical following.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.
How to buy
You can invest in our funds through a wide range of investment platforms. If your preferred platform does not currently offer our funds, they may be made available upon request by contacting the platform directly.
Further information on our funds can be found in the relevant Key Information and Prospectus Documents, which are available in English and will be sent to you free of charge on request or can be downloaded from the literature section of our website.
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.
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.