The Baillie Gifford Emerging Markets Equities Fund seeks capital appreciation.
We invest with a long-term (3-5 year) perspective, and have a strong preference for growth. We are looking for significant upside in each stock that we invest in. The process is driven by rigorous, fundamental analysis undertaken by our dedicated Emerging Markets team. The Emerging Markets team draws on this analysis, as well as insights gleaned from discussion with all of Baillie Gifford’s global investors, to produce a portfolio that typically holds 60–100 stocks.
Fund FactsAll figures to 12/31/2019
Ticker - Share Class K BGKEX Ticker - Share Class Institutional BGEGX Launch Date April 4, 2003 Size $3,788.7m Benchmark MSCI Emerging Markets Index Current Number of Stocks 68 Active Share 67%* Annual Turnover 15% Style Growth Stocks (guideline range) 60-100
From Edinburgh, our research covers the globe. We set no barriers to the imagination of our investors, encouraging fresh perspectives and the use of diverse sources of information.
Fund MSCI Emerging Markets Index Market Cap (weighted average) $146.27bn $115.30bn Price/Book 2.19 1.70 Price/Earnings (12 months forward) 13.50 12.88 Earnings Growth (5 year historic) 2.19% 3.97% Return on Equity 16.18% 13.16% Beta 1.11 n/a Standard Deviation (trailing 3 years) 16.02% 14.18%
Actual investors imagine 'what if?'
Not 'what is'.
Meet the ManagersRichard Sneller
Richard is Head of our Emerging Markets Equity Team, a member of the Emerging Markets Product Group and a member of the Firm’s Strategic Leadership Group. He has been a Manager of the Emerging Markets All Cap strategy since 1999. Richard joined Baillie Gifford in 1994 and became a Partner in 2004. He has spent almost the entirety of his career at Baillie Gifford researching and investing in Emerging Markets. Richard graduated BSc (Econ) in Statistics from London School of Economics in 1993 and MSc in Investment Analysis from the University of Stirling in 1994.Will Sutcliffe
Will joined Baillie Gifford in 1999 and is an Investment Manager in the Emerging Markets Equity Team. He became a Partner of the firm in 2010. He is a member of the Positive Change Portfolio Construction Group and has also spent time working in the UK and US Equities Teams. In addition to his investment responsibilities, Will oversees Baillie Gifford’s investment graduate recruitment programme, and is a member of the firm’s Diversity and Inclusion Group. Will graduated MA in History from the University of Glasgow in 1996.Andrew Stobart
Andrew Stobart has been an Investment Manager in the Emerging Markets Team since 2007 and sits on the Emerging Markets All Cap Portfolio Construction Group. Andrew has also been a member of the International Alpha Portfolio Construction Group since 2008. Since joining Baillie Gifford as an Investment Analyst in 1991, Andrew has worked in the UK, Japanese and North American Teams. Prior to joining Baillie Gifford, Andrew spent three years working in Investment Banking in London. Andrew graduated MA in Economics from the University of Cambridge in 1987.Mike Gush
Mike 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. He has also been involved with the Global Stewardship Strategy since its inception in 2015. Mike first joined Baillie Gifford in 2003 and worked in the UK and Japanese Equities Teams before moving to the Emerging Markets Equity Team in 2005. He became an Investment Manager in 2006 and has researched all Emerging Markets during his career. Mike also has previous experience managing the Pacific Horizon Investment Trust and the Baillie Gifford Pacific Fund. He is a CFA Charterholder and graduated MEng from the University of Durham in 2003.Ewan Markson-Brown
Ewan is an Investment Manager in the Emerging Markets Equity Team. He has co-managed the Pacific Fund since May 2014 and has managed Pacific Horizon Investment Trust PLC since March 2014. Prior to joining Baillie Gifford in 2013, Ewan was a Senior Vice President in Emerging Markets at PIMCO. He previously worked at Newton for five years, most recently as Lead Portfolio Manager on an Asia Pacific Equity Strategy, as well as segregated Asian income and Japanese Equities Strategies. Ewan also previously worked for Merrill Lynch Investment Managers as a Portfolio Manager in the Asia-Pacific region for six years. He graduated MA in Politics, Philosophy and Economics from the University of Oxford in 2000.Roderick Snell
Roderick joined Baillie Gifford in 2006 and is an Investment Manager in the Emerging Markets Equity Team. He previously worked in the UK and European Equity Teams and has managed the Baillie Gifford Pacific Fund since 2010. Roderick graduated BSc (Hons) in Medical Biology from the University of Edinburgh in 2006.Sophie Earnshaw
Sophie joined Baillie Gifford in 2010 and is an Investment Manager in the Emerging Markets Equity Team and a decision maker on the China A Share Fund. She has also been Co-Manager of the China Fund and a member of the International All Cap Portfolio Construction Group since 2014. Sophie is a CFA Charter holder. She graduated MA in English Literature from the University of Edinburgh in 2008 and MPhil in Eighteenth Century and Romantic Literature from the University of Cambridge in 2009.
K Institutional Management Fee 0.72% 0.72% Other Expenses 0.12% 0.23% Gross Expense Ratio 0.84% 0.95% Net Expense Ratio 0.84% 0.95%
The most significant risks of an investment in The Baillie Gifford Emerging Markets Equities Fund are Investment Style Risk, Growth Stock Risk, Long-Term Investment Strategy Risk, Geographic Focus Risk, Emerging Markets Risk, Asia Risk, Conflicts of Interest Risk, China Risk, Currency and Currency Hedging Risk, Equity Securities Risk, Focused Investment Risk, Frontier Markets Risk, Information Technology Risk, IPO Risk, Large Capitalization Securities Risk, Liquidity Risk, Market Disruption and Geopolitical Risk, Market Risk, Non-U.S. Investment Risk, Service Provider Risk, Settlement Risk, Small-and Medium-Capitalization Securities Risk.
Source: MSCI. The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an ‘as is’ basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the ‘MSCI Parties’) expressly disclaims all warranties (including, without limitation, any warranties or originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages (www.msci.com).
The Baillie Gifford Mutual Funds are distributed by Baillie Gifford Funds Services LLC. Investors should carefully consider the objectives, risks, charges and expenses of the Funds before investing. This information and other information about the Funds can be found in the prospectus and the summary prospectus. For a prospectus and summary prospectus please go here. Please carefully read the Fund’s prospectus and related documents before investing.