The Emerging Markets 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 09/30/2018
Ticker - Share Class K BGKEX Ticker - Share Class Institutional BGEGX Launch Date April 04, 2003 Size $1,922.9m Benchmark MSCI Emerging Markets Index Current Number of Stocks 67 Active Share 69%* Annual Turnover 23% 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) $110.83bn $89.68bn Price/Book 2.04 1.53 Price/Earnings (12 months forward) 11.91 11.01 Earnings Growth (5 year historic) 3.15% 4.32% Return on Equity 17.09% 13.91% Beta 1.07 n/a Standard Deviation (trailing 3 years) 15.87% 14.10%
Meet the ManagersRichard Sneller
Richard graduated BSc (Econ) in Statistics from The London School of Economics in 1993 and MSc in Investment Analysis in 1994 from Stirling University. He joined Baillie Gifford in 1994 and became a Partner in 2004. With the exception of a year researching UK Smaller Companies, Richard has spent his career at Baillie Gifford covering the emerging markets and is Head of our Emerging Markets Equity Team. Richard is a member of the Emerging Markets Product Group.Will Sutcliffe
Will graduated MA in History from the University of Glasgow in 1996. He joined Baillie Gifford in 1999 and worked as an Investment Analyst in the UK and US Equity Teams before joining the Emerging Markets Equity Team in 2001, where he is an Investment Manager. Will became a Partner in 2010. He is a member of the Emerging Markets Product Group.Andrew Stobart
Andrew graduated MA in Economics from the University of Cambridge in 1987. After three years working in investment banking in London, he joined Baillie Gifford as an Investment Analyst in 1991. Andrew has been a member of the ACWI ex US Alpha Portfolio Construction Group since 2008.Mike Gush
Mike graduated MEng in Mechanical Engineering from Durham University in 2003. He joined Baillie Gifford in the same year and worked in the UK and Japanese equity teams before moving to the Emerging Markets Equity Team in 2005, where he is an Investment Manager. Mike is one of the six portfolio managers of our Global Select strategy, and is a CFA Charterholder.Ewan Markson-Brown
Ewan graduated MA in Politics, Philosophy and Economics from Oxford University in 2000. He previously worked at Merrill Lynch and Newton as an Asia Pacific portfolio manager. Prior to joining Baillie Gifford in 2013, he was a Senior Vice President in Emerging Markets at PIMCO. Ewan is an Investment Manager in the Emerging Markets Equity Team.Roderick Snell
Roderick graduated BSc (Hons) in Biological Sciences in Medical Biology from the University of Edinburgh in 2006. He joined Baillie Gifford in the same year and worked in the UK and European Equity Teams before joining the Emerging Markets Equity Team where he is an Investment Manager.Sophie Earnshaw
Sophie 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. She joined Baillie Gifford in 2010 and is an Investment Manager in the Emerging Markets Equity Team. Sophie has been a CFA Charterholder since 2014.
K Institutional Management Fee 0.72% 0.72% Other Expenses 0.13% 0.13% Gross Expense Ratio 0.85% 0.85% Net Expense Ratio 0.85% 0.85%
The most significant risks of an investment in The Emerging Markets Fund are Asia Risk, China Risk, Currency and Currency Hedging Risk, Emerging Markets Risk, Equity Securities Risk, Focused Investment Risk, Frontier Markets Risk, Growth Stock Risk, Information Technology Risk, IPO Risk, Large-Capitalization Securities Risk, Liquidity Risk, Long-Term Investment Strategy Risk, Market Disruption and Geopolitical Risk, Market Risk, Non-U.S. Investment Risk, Service Provider Risk, Settlement Risk and Small- and Medium-Capitalization Securities Risk. For more information about these and other risks of an investment in the Fund, see “Principal Investment Risks” and “Additional Investment Strategies” in the prospectus.
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.