BAILLIE GIFFORD LONG TERM GLOBAL GROWTH FUNDBAILLIE GIFFORD LONG TERM GLOBAL GROWTH FUND
The Baillie Gifford Long Term Global Growth Fund seeks to provide long-term capital appreciation.
Long Term Global Growth is a purely stock-driven, unconstrained global equity strategy focused on investing in exceptional growth companies. This approach is expressly long term, we believe that investing in companies with the scope to grow to multiples of their current size has the potential to transform the returns for investors over time. The Fund’s share price can be volatile, which we look to embrace as it can provide opportunities to invest in companies with great long term growth prospects at opportune prices.
Holdings - 3/31/2021
SEDOL ISIN Company Country Holding Asset Price Currency Asset Type Market Value (USD) Fund % 1 BMMV2K8 KYG875721634 Tencent China 675,400 610.00 HKD Equity 52993330.72 5.64 2 2000019 US0231351067 Amazon.com United States 16,534 3094.08 USD Equity 51157518.72 5.45 3 BGJW376 KYG596691041 Meituan Dianping China 1,286,400 298.20 HKD Equity 49341687.19 5.25 4 BP41ZD1 US01609W1027 Alibaba China 205,890 226.73 USD Equity 46681439.70 4.97 5 B616C79 US88160R1014 Tesla Inc United States 68,914 667.93 USD Equity 46029728.02 4.90 6 BYVW0F7 US7223041028 Pinduoduo China 318,250 133.88 USD Equity 42607310.00 4.54 7 2613990 US4523271090 Illumina United States 103,268 384.06 USD Equity 39661108.08 4.22 8 B929F46 NL0010273215 ASML Netherlands 57,158 517.00 EUR Equity 34730904.62 3.70 9 5505072 FR0000121485 Kering France 49,176 588.60 EUR Equity 34019034.68 3.62 10 2857817 US64110L1061 Netflix United States 61,518 521.66 USD Equity 32091479.88 3.42 Total 45.72% SEDOL ISIN Company Country Holding Asset Price Currency Asset Type Market Value (USD) Fund % 1 BMMV2K8 KYG875721634 Tencent China 675,400 610.00 HKD Equity 52993330.72 5.64 2 2000019 US0231351067 Amazon.com United States 16,534 3094.08 USD Equity 51157518.72 5.45 3 BGJW376 KYG596691041 Meituan Dianping China 1,286,400 298.20 HKD Equity 49341687.19 5.25 4 BP41ZD1 US01609W1027 Alibaba China 205,890 226.73 USD Equity 46681439.70 4.97 5 B616C79 US88160R1014 Tesla Inc United States 68,914 667.93 USD Equity 46029728.02 4.90 6 BYVW0F7 US7223041028 Pinduoduo China 318,250 133.88 USD Equity 42607310.00 4.54 7 2613990 US4523271090 Illumina United States 103,268 384.06 USD Equity 39661108.08 4.22 8 B929F46 NL0010273215 ASML Netherlands 57,158 517.00 EUR Equity 34730904.62 3.70 9 5505072 FR0000121485 Kering France 49,176 588.60 EUR Equity 34019034.68 3.62 10 2857817 US64110L1061 Netflix United States 61,518 521.66 USD Equity 32091479.88 3.42 11 2379504 US67066G1040 NVIDIA United States 52,276 533.93 USD Equity 27911724.68 2.97 12 BXDZ9Z0 CA82509L1076 Shopify Canada 23,980 1106.50 USD Equity 26533870.00 2.83 13 B8K6ZD1 US98138H1014 Workday United States 99,239 248.43 USD Equity 24653944.77 2.63 14 BJ7WJS2 US70614W1009 Peloton United States 218,798 112.44 USD Equity 24601647.12 2.62 15 B0796X4 US2521311074 Dexcom United States 66,802 359.39 USD Equity 24007970.78 2.56 16 Cash and Deposits International 23,308,608 0.00 USD Equity 23308607.52 2.48 17 BZ1HM42 NL0012969182 Adyen Netherlands 10,174 1903.50 EUR Equity 22761094.53 2.42 18 B7TL820 US30303M1027 United States 77,115 294.53 USD Equity 22712680.95 2.42 19 BGSXTS3 US60770K1079 Moderna United States 163,219 130.95 USD Equity 21373528.05 2.28 20 BFZ1K46 LU1778762911 Spotify Sweden 71,930 267.95 USD Equity 19273643.50 2.05 21 BYY88Y7 US02079K1079 Alphabet United States 9,314 2068.63 USD Equity 19267219.82 2.05 22 BZ09BD1 GB00BZ09BD16 Atlassian United States 90,112 210.76 USD Equity 18992005.12 2.02 23 BYYWPW6 US07725L1026 BeiGene China 54,231 348.08 USD Equity 18876726.48 2.01 24 BZCNB42 DE000A2E4K43 Delivery Hero Germany 141,803 110.50 EUR Equity 18416038.96 1.96 25 BGSP7M9 US98980L1017 Zoom Video Communications United States 56,293 321.29 USD Equity 18086377.97 1.93 26 2871301 US46120E6023 Intuitive Surgical United States 23,054 738.94 USD Equity 17035522.76 1.81 27 2310525 US79466L3024 salesforce.com United States 77,328 211.87 USD Equity 16383483.36 1.74 28 BNYHDF3 US22266T1097 Coupang South Korea 319,395 49.35 USD Equity 15762143.25 1.68 29 BJXC5M2 US18915M1071 Cloudflare United States 220,222 70.26 USD Equity 15472797.72 1.65 30 BFZX9H8 US62914V1061 NIO China 374,952 38.98 USD Equity 14615628.96 1.56 31 5253973 FR0000052292 Hermès International France 11,825 944.00 EUR Equity 13119632.55 1.40 32 2606440 US64110W1027 NetEase China 125,935 103.26 USD Equity 13004048.10 1.38 33 B4MGD82 US8740801043 TAL Education China 235,485 53.85 USD Equity 12680867.25 1.35 34 BYQHPG3 US1468691027 Carvana United States 44,812 262.40 USD Equity 11758668.80 1.25 35 BJ1FDK7 US08862E1091 Beyond Meat United States 84,781 130.12 USD Equity 11031703.72 1.17 36 BK6H543 US09075V1026 BioNTech Germany 95,679 109.19 USD Equity 10447190.01 1.11 37 BMBX7M2 US4824971042 KE Holdings China 168,893 56.98 USD Equity 9623523.14 1.02 38 BFNLRN6 US0900401060 Bilibili China 85,997 107.06 USD Equity 9206838.82 0.98 39 BD8FDD1 US88339J1051 The Trade Desk United States 13,494 651.66 USD Equity 8793500.04 0.94 Total 100.0%
Sector Analysis of Total Assets - 3/31/2021Unfortunately we were unable to load the chart. Please try again later.
Regional Analysis of Total Assets - 3/31/2021Unfortunately 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.
InsightsView all Insights.June 2020
A View from the Midst of the Pandemic.
Technological developments over recent decades mean reality has outpaced the science fiction of his youth since Mark Urquhart joined Baillie Gifford almost 25 years ago. Now, scanning the Covid-19 riven global economy, he sets out his enthusiasm and expectations for the next decade and beyond.2019
The Evolution of LTGG over the first 15 years.May 2018
Peter Singlehurst explains why it is becoming increasingly important to invest in exciting companies at an earlier stage and offers an insight into the characteristics he looks for in unlisted businesses.July 2016
Global by John MacDougall.
As our understanding of the concept of global continues to evolve, investment manager John MacDougall suggests that where a company happens to be based will not prevent it from building a high-growth business in the future. As such, we must be prepared to see high-growth companies emerging from new locations across the globe. John explains how the Long Term Global Growth team are adapting their research to accommodate this.
View all Insights.
Mark is a Senior Investment Manager in our Long Term Global Growth Team, a strategy which he co-founded in 2003. Mark joined Baillie Gifford in 1996, initially working as an Investment Analyst and Manager in the US, UK and Japanese Equities Teams. He became a Partner in 2004. Mark graduated BA in Philosophy, Politics and Economics from the University of Oxford in 1992 and spent a year at Harvard as a Kennedy Scholar in 1993 before completing a PhD in Politics at the University of Edinburgh in 1996.
Tom Slater - Manager
Tom is Head of the US Equities Team and is a Decision Maker on Long Term Global Growth Portfolios. He joined Baillie Gifford in 2000 and became a Partner of the firm in 2012. After serving as Deputy Manager for five years, Tom was appointed Joint Manager of Scottish Mortgage Investment Trust in 2015. During his time at Baillie Gifford he has also worked in the Developed Asia and UK Equity Teams. Tom’s investment interest is focused on high growth companies both in listed equity markets and as an investor in private companies. He graduated BSc in Computer Science with Mathematics from the University of Edinburgh in 2000.
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 Long Term Global Growth Fund Institutional Class BSGLX 0.00000 0.00000 0.00000 0.00000 3.22542 3.22542 12/29/2020 12/29/2020 Final Baillie Gifford Long Term Global Growth Fund K Class BGLKX 0.00000 0.00000 0.00000 0.00000 3.22542 3.22542 12/29/2020 12/29/2020 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).
Quarterly Investor Reports
Statement of Additional Information (SAI)
The most significant risks of an investment in the Baillie Gifford Long Term Global Growth Fund are Investment Style Risk, Growth Stock Risk, Long-Term Investment Strategy Risk, Non-Diversification Risk, Non-U.S. Investment Risk and China Risk. The Fund is managed on a bottom up basis and stock selection is likely to be the main driver of investment returns. Returns are unlikely to track the movements of the benchmark. The prices of growth stocks can be based largely on expectations of future earnings and can decline significantly in reaction to negative news. The Fund is managed on a long-term outlook, meaning that the Fund managers look for investments that they think will make returns over a number of years, rather than over shorter time periods. The Fund may have a smaller number of holdings with larger positions in each relative to other mutual funds. Non-U.S. securities are subject to additional risks, including less liquidity, increased volatility, less transparency, withholding or other taxes and increased vulnerability to adverse changes in local and global economic conditions. There can be less regulation and possible fluctuation in value due to adverse political conditions. Investing in securities of Chinese issuers involves certain risks such as limits on use of brokers and foreign ownership. There can be a higher dependence on exports and international trade with the potential for increased trade tariffs, sanctions and embargoes. U.S. sanctions or other investment restrictions could preclude the Fund from investing in certain Chinese issuers or cause the Fund to sell investments at a disadvantageous time. Chinese securities can become illiquid quickly as Chinese issuers have the ability to suspend trading and have done so in response to market volatility. Other Fund risks include: Asia Risk, Conflicts of Interest Risk, Currency Risk, Emerging Markets Risk, Equity Securities Risk, Focused Investment Risk, Government and Regulatory Risk, Information Technology Risk, IPO Risk, Large-Capitalization Risk, Liquidity Risk, Market Disruption and Geopolitical Risk, Market Risk, Service Provider Risk, Settlement Risk, Small-and Medium-Capitalization Securities Risk and 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.