BAILLIE GIFFORD DEVELOPED EAFE ALL CAP FUNDBAILLIE GIFFORD DEVELOPED EAFE ALL CAP FUND
The Baillie Gifford Developed EAFE All Cap Fund seeks capital appreciation.
The Baillie Gifford Developed EAFE All Cap Fund aims to deliver good long-term performance by investing in a portfolio of 50-90 developed market international growth stocks. The portfolio is built through bottom-up stock selection by the International All Cap Portfolio Construction Group (formerly known as International Focus PCG). As active growth investors we differ from the benchmark, and look for businesses that seek to outperform the market over the long-term. Portfolio guidelines ensure a level of diversification across sectors and regions.
Holdings - 6/30/2020
SEDOL ISIN Company Country Holding Asset Price Currency Asset Type Market Value (USD) Fund % 1 B929F46 NL0010273215 ASML Netherlands 48,012 326.90 EUR Equity 17627977.67 3.30 2 2126249 US5926881054 Mettler-Toledo Switzerland 19,210 805.55 USD Equity 15474615.50 2.90 3 BQV0SV7 DE000ZAL1111 Zalando Germany 218,526 62.78 EUR Equity 15408565.23 2.89 4 6658801 JP3201200007 Olympus Japan 794,800 2075.50 JPY Equity 15290424.06 2.87 5 B4TX8S1 HK0000069689 AIA Hong Kong 1,584,200 72.30 HKD Equity 14778194.81 2.77 6 6763965 JP3162600005 SMC Japan 27,600 55180.00 JPY Equity 14116587.11 2.65 7 BD97BN2 SE0011166610 Atlas Copco Sweden 327,256 394.60 SEK Equity 13860692.16 2.60 8 6804820 JP3358000002 Shimano Japan 71,400 20750.00 JPY Equity 13732678.31 2.57 9 BFZ1K46 LU1778762911 Spotify Sweden 50,791 258.19 USD Equity 13113728.29 2.46 10 B1VZ0M2 GB00B1VZ0M25 Hargreaves Lansdown United Kingdom 604,775 16.29 GBP Equity 12169135.04 2.28 Total 27.28% SEDOL ISIN Company Country Holding Asset Price Currency Asset Type Market Value (USD) Fund % 1 B929F46 NL0010273215 ASML Netherlands 48,012 326.90 EUR Equity 17627977.67 3.30 2 2126249 US5926881054 Mettler-Toledo Switzerland 19,210 805.55 USD Equity 15474615.50 2.90 3 BQV0SV7 DE000ZAL1111 Zalando Germany 218,526 62.78 EUR Equity 15408565.23 2.89 4 6658801 JP3201200007 Olympus Japan 794,800 2075.50 JPY Equity 15290424.06 2.87 5 B4TX8S1 HK0000069689 AIA Hong Kong 1,584,200 72.30 HKD Equity 14778194.81 2.77 6 6763965 JP3162600005 SMC Japan 27,600 55180.00 JPY Equity 14116587.11 2.65 7 BD97BN2 SE0011166610 Atlas Copco Sweden 327,256 394.60 SEK Equity 13860692.16 2.60 8 6804820 JP3358000002 Shimano Japan 71,400 20750.00 JPY Equity 13732678.31 2.57 9 BFZ1K46 LU1778762911 Spotify Sweden 50,791 258.19 USD Equity 13113728.29 2.46 10 B1VZ0M2 GB00B1VZ0M25 Hargreaves Lansdown United Kingdom 604,775 16.29 GBP Equity 12169135.04 2.28 11 Cash and Deposits International 12,156,970 0.00 USD Equity 12156970.35 2.28 12 5932409 DE0005158703 Bechtle Germany 68,449 157.00 EUR Equity 12069923.95 2.26 13 BVYVFW2 GB00BVYVFW23 Auto Trader United Kingdom 1,643,083 5.26 GBP Equity 10686943.17 2.00 14 6211798 AU000000COH5 Cochlear Australia 80,965 188.93 AUD Equity 10531788.70 1.97 15 5843329 DE0007165631 Sartorius Group Germany 31,758 292.60 EUR Equity 10436749.02 1.96 16 B11ZRK9 FR0010307819 Legrand France 136,663 67.62 EUR Equity 10379200.23 1.94 17 6805265 JP3351600006 Shiseido Japan 162,600 6835.00 JPY Equity 10301441.35 1.93 18 BYYT1T6 SE0008321293 NIBE Sweden 455,583 205.90 SEK Equity 10068483.81 1.89 19 B2Q4CS1 JP3890310000 MS&AD Insurance Japan 364,200 2961.00 JPY Equity 9995793.67 1.87 20 4491235 IE0004927939 Kingspan Group Ireland 154,081 57.35 EUR Equity 9924766.19 1.86 21 BP9DL90 ES0148396007 Inditex Spain 373,954 23.57 EUR Equity 9899551.95 1.85 22 BGDT3G2 GB00BGDT3G23 Rightmove United Kingdom 1,462,526 5.46 GBP Equity 9866755.25 1.85 23 B1Y1SQ7 PTJMT0AE0001 Jeronimo Martins Portugal 557,053 15.59 EUR Equity 9750819.07 1.83 24 B09M9D2 FI0009013403 Kone Finland 134,954 61.22 EUR Equity 9279335.14 1.74 25 B1L3CS6 FR0000054470 Ubisoft Entertainment France 112,335 73.40 EUR Equity 9260808.92 1.74 26 6483809 JP3205800000 Kao Japan 116,400 8540.00 JPY Equity 9214033.46 1.73 27 BJXMLF7 SE0012454072 Avanza Bank Sweden 626,528 132.30 SEK Equity 8896937.68 1.67 28 BCRWZ18 CH0210483332 Richemont Switzerland 135,653 60.44 CHF Equity 8652701.51 1.62 29 6916781 SG1M31001969 United Overseas Bank Singapore 578,089 20.23 SGD Equity 8383026.03 1.57 30 B0190C7 HK0669013440 Techtronic Industries Hong Kong 842,500 75.80 HKD Equity 8239715.11 1.54 31 6770620 JP3436100006 SoftBank Japan 155,900 5450.00 JPY Equity 7875561.94 1.48 32 4061412 FR0000121014 LVMH France 17,954 390.50 EUR Equity 7874446.43 1.48 33 6883807 JP3351100007 Sysmex Japan 100,700 8230.00 JPY Equity 7681892.76 1.44 34 5505072 FR0000121485 Kering France 13,964 484.25 EUR Equity 7594815.76 1.42 35 5679591 SE0000107419 Investor Sweden 143,680 491.70 SEK Equity 7582924.76 1.42 36 6689533 JP3206000006 Kakaku.com Japan 299,600 2729.00 JPY Equity 7578517.87 1.42 37 6610403 JP3914400001 Murata Manufacturing Japan 127,100 6316.00 JPY Equity 7440919.50 1.39 38 BYYTFB6 GB00BYYTFB60 HomeServe United Kingdom 445,213 13.05 GBP Equity 7178876.23 1.35 39 6640682 JP3734800000 Nidec Corporation Japan 107,000 7196.00 JPY Equity 7136969.92 1.34 40 6490995 JP3236200006 Keyence Japan 17,000 45030.00 JPY Equity 7095611.07 1.33 41 4031976 DE000A1EWWW0 adidas Germany 25,839 233.60 EUR Equity 6779322.81 1.27 42 B0767Y3 AU000000SEK6 SEEK Australia 438,816 21.89 AUD Equity 6613511.43 1.24 43 B8P4LP4 NZXROE0001S2 Xero New Zealand 105,984 90.11 AUD Equity 6575324.47 1.23 44 BJDS7L3 NL0013654783 Prosus Netherlands 69,454 82.74 EUR Equity 6454320.88 1.21 45 3163836 GB0031638363 Intertek United Kingdom 95,821 54.40 GBP Equity 6440768.89 1.21 46 3092725 GB0030927254 ASOS United Kingdom 150,898 34.23 GBP Equity 6382171.94 1.20 47 BKDTK92 GB00BKDTK925 Trainline United Kingdom 1,148,091 4.34 GBP Equity 6162319.99 1.15 48 6865504 JP3397200001 Suzuki Motor Japan 177,600 3657.00 JPY Equity 6020143.67 1.13 49 BZ4BQC7 GB00BZ4BQC70 Johnson Matthey United Kingdom 223,006 20.98 GBP Equity 5780962.46 1.08 50 6640381 JP3551500006 DENSO Japan 145,200 4205.00 JPY Equity 5659415.12 1.06 51 4741714 FR0000130395 Remy Cointreau France 37,827 121.20 EUR Equity 5149230.02 0.96 52 6161525 NZRYME0001S4 Ryman Healthcare New Zealand 604,653 13.08 NZD Equity 5091329.61 0.95 53 3174300 GB0031743007 Burberry United Kingdom 254,013 16.00 GBP Equity 5020168.63 0.94 54 6688080 JP3801600002 Pigeon Japan 123,600 4170.00 JPY Equity 4777420.40 0.90 55 5633962 DE0006452907 Nemetschek Germany 67,386 61.20 EUR Equity 4631896.79 0.87 56 B61JC67 AU000000TWE9 Treasury Wine Estates Australia 631,089 10.48 AUD Equity 4553609.51 0.85 57 BDZV127 SE0011166941 Epiroc Sweden 314,555 113.95 SEK Equity 3847256.50 0.72 58 6259011 JP3397060009 Sugi Holdings Japan 55,700 7300.00 JPY Equity 3768920.61 0.71 59 6472960 BMG507641022 Jardine Strategic Singapore 129,500 21.55 USD Equity 2790725.00 0.52 60 6472119 BMG507361001 Jardine Matheson Singapore 66,600 41.74 USD Equity 2779884.00 0.52 61 BDZV116 SE0011166933 Epiroc Sweden 221,518 116.10 SEK Equity 2760460.02 0.52 62 0946580 GB0009465807 Weir United Kingdom 175,280 10.64 GBP Equity 2303286.57 0.43 63 B5N0P84 GB00B5N0P849 Wood Group United Kingdom 791,229 1.94 GBP Equity 1895161.04 0.36 64 B53P200 GB00B53P2009 Jupiter Fund Management United Kingdom 550,898 2.56 GBP Equity 1743927.55 0.33 65 BD97BS7 SE0011166628 Atlas Copco Sweden 26,196 344.60 SEK Equity 968925.70 0.18 66 Cash and Deposits International 72,030 0.00 CHF Equity 76017.02 0.01 67 B28PS95 CH0033361673 u-blox Switzerland 848 64.80 CHF Equity 57992.08 0.01 Total 100.0%
Sector Analysis of Total Assets - 6/30/2020Unfortunately we were unable to load the chart. Please try again later.
Regional Analysis of Total Assets - 6/30/2020Unfortunately we were unable to load the chart. Please try again later.
It should not be assumed that recommendations/transactions made in the future will be profitable or will equal performance of the securities mentioned. The composition of the Fund's holdings is subject to change. Percentages are based on securities at market value. Internal classifications are used for any graphs represented above.
There is no guarantee that the investment objective of the Fund will be achieved. Stocks fluctuate in price and the value of your investment in the Fund may go down. This means that you could lose money on your investment in the Fund or the Fund may not perform as well as other possible investments.
InsightsAll insightsFourth Quarter 2018
Focus magazine presents a collection of articles produced by members of Baillie Gifford’s International Focus Portfolio Construction Group and those who work closely alongside them. In the first edition, we explore the investment backdrop in China from a number of angles, look at the various ways in which semiconductors now have an important place in the investment case for several of our International Focus portfolios’ investments, and throw the spotlight on Spotify, one of the more recent purchases and a reminder that not all great technology opportunities arise in Silicon Valley or Shanghai.Third Quarter 2018
Our lives are increasingly cluttered by information overload. And, as Iain Campbell explains, having too much data can hamper rather than improve the process of investing. The key is to ignore irrelevant noise and focus on the drivers of long-term investment returns.
View all Insights.
Gerard joined Baillie Gifford in 1991 and is head of our UK Equity Team and Chairman of the International All Cap Portfolio Construction Group. He became a Partner of the firm in 2000 and Lead Manager of our UK Alpha Strategy in the same year. Gerard has been involved as a Portfolio Manager in our International strategies since 1998, initially in selecting UK stocks. He graduated BA in Politics, Philosophy and Economics from the University of Oxford in 1991.
Joe is a Client Service Director where he is responsible for servicing International All Cap Clients. He has been a member of the International All Cap Portfolio Construction Group since 2007. Joe joined Baillie Gifford’s Graduate Scheme in 2002 and worked in our European, North America, Developed Asian and Emerging Markets Equity Teams before transferring to the Clients Department in 2013. Following an engineering scholarship with the Smallpeice Trust in his gap year, Joe graduated MEng in Chemical Engineering from the University of Cambridge in 2002 and gained an MBA from the University of Edinburgh in 2009. He is also a CFA Charterholder.
Iain joined Baillie Gifford in 2004 and is a member of the Japanese Specialist Team. Most of Iain’s investment career has been focused on Emerging and Developed Asian markets. He has responsibility for managing various specialist Developed Asia, including Japan, portfolios and is also a member of the International All Cap Portfolio Construction Group. Prior to joining Baillie Gifford, Iain worked for Goldman Sachs as an analyst in the Investment Banking division. He graduated BA in Modern History from the University of Oxford in 2000.
Moritz joined Baillie Gifford in September 2010 and is an Investment Manager in the European Equity Team. He graduated BSc in Business Administration from the University of Regensburg, Germany in 2009 where he took part in the Honours Elite Degree Programme. Moritz then went on to complete an MSc in Finance and Investment from the University of Edinburgh in 2010.
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.
Tax & Distributions
The Fund intends to pay dividends to its shareholders at least annually. Distributions will automatically be reinvested in Fund shares unless you submit a request for cash payment with at least ten days prior notice, before the record date for distribution, to the Transfer Agent. The distribution dates will appear on this page alongside the rates once they become available. The dates can be changed by the Officers of the Funds. For more information on Baillie Gifford Funds’ Distributions please see the Statutory Prospectus.
The below table shows the makeup of the most recent distributions paid.
Short-Term Capital Gains *
Qualified Dividend Income **
Foreign Tax Credits
Long-Term Capital Gains
Total Per Share
Baillie Gifford Developed EAFE All Cap Fund Institutional Class BSGPX 0.15561 0.00000 0.15561 0.01972 0.00000 0.15561 12/27/2019 12/27/2019 Final Baillie Gifford Developed EAFE All Cap Fund K Class BGPKX 0.15417 0.00000 0.15417 0.01972 0.00000 0.15417 12/27/2019 12/27/2019 Final
Source: Bank of New York Mellon and Baillie Gifford & Co
*Short-Term Capital Gains are treated as ordinary income for U.S. Federal Income Tax Purposes.
**Qualified Dividend Income is a subset of Income Dividends (rather than an additional category of income).
The table below shows the proposed distribution dates for the current tax year. The dates can be changed by the Officers of the Funds.
2020 12/28/2020 12/29/2020 12/29/2020
Source: Bank of New York Mellon and Baillie Gifford & Co
Estimated capital gains distributions will appear here when they become available.
Other Fund Literature
Quarterly Investor Reports
Semi Annual Reports
Statement of Additional Information (SAI)
Risks & Disclaimers
The most significant risks of an investment in The Baillie Gifford Developed EAFE All Cap Fund are Investment Style Risk, Growth Stock Risk, Long-Term Investment Strategy Risk, Geographic Focus Risk, Asia Risk, Conflicts of Interest Risk, Currency Risk, Equity Securities Risk, Focused Investment Risk, Information Technology Risk, IPO Risk, Japan 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 Risk, Valuation 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.