Baillie Gifford International Class B Acc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 30/04/19 to 30/04/20 |
30/04/20 to 30/04/21 |
30/04/21 to 30/04/22 |
30/04/22 to 30/04/23 |
30/04/23 to 30/04/24 |
|
|---|---|---|---|---|---|
| Fund | 7.7% | 43.8% | -14.9% | -2.3% | 17.2% |
| Sector | -0.7% | 31.5% | 0.1% | 0.0% | 14.6% |
| Rank | 33/246 | 26/266 | 287/303 | 254/336 | 127/349 |
| Quartile | 1 | 1 | 4 | 4 | 2 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/04/24 |
5 Years to 30/04/24 |
10 Years to 30/04/24 |
||
| Fund | -0.9% | 8.6% | 12.4% | |
| Sector | 4.7% | 8.4% | 9.3% | |
| Rank | 270/299 | 117/243 | 24/181 | |
| Quartile | 4 | 2 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| META PLATFORMS | 4.07 |
| MICROSOFT CORPORATION | 3.89 |
| AMAZON.COM | 3.80 |
| MARTIN MARIETTA MATERIALS INC | 3.80 |
| ELEVANCE HEALTH | 3.43 |
| CRH | 2.94 |
| MOODY'S CORPORATION | 2.94 |
| RELIANCE INDUSTRIES LIMITED | 2.53 |
| TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 2.33 |
| MASTERCARD INCORPORATED | 2.18 |
| Total | 31.93 |
Fund Aims
Investment Objective The Sub-fund aims to outperform (after deduction of costs) the MSCI ACWI ex-UK Index, as stated in Sterling, by at least 2% per annum over rolling five-year periods. Investment Policy The Sub-fund will invest at least 90% in shares of companies anywhere in the world (excluding the UK). The Sub-fund will be actively managed and will invest in companies of any sector. To the extent that the Sub-fund is not fully invested in such shares, the Sub-fund may also invest in other transferable securities of companies anywhere in the world (excluding the UK), money market instruments, deposits and cash. The Sub-fund may not invest in or otherwise use derivatives.
Fund Manager
Helen joined Baillie Gifford in 2008 and is a partner and investment manager on the Global Alpha Team. In addition to Global Alpha, Helen has spent time working on our Developed Asia, UK, North America, Emerging Markets and Global Equity Teams. Before coming to live and work in the UK, Helen lived in China, South Africa and Norway. She graduated BSc (Hons) in Economics from the University of Warwick in 2007 and MPhil in Economics from the University of Cambridge the following year.
Malcolm is an Investment Manager in the Global Alpha Team. He has been involved in Global Alpha since the product’s inception in 2005 and this is his sole portfolio responsibility. He joined Baillie Gifford in 1999 and spent his graduate rotation in the UK Small Cap Team before joining the North American Team. Malcolm managed the North American portion of wider Global portfolios whilst in the North American Team. He is a member of the CFA Society of the UK. He became a Partner of the firm in 2011 and, in 2021, he became Joint Senior Partner with overall oversight for the investment departments. Malcolm graduated MA in Economics and History in 1998 and MLitt in Economics, Politics and Management in 1999 both from the
University of St Andrews.
Spencer joined Baillie Gifford in 2000 and is an Investment Manager in the Global Alpha Team. He became a Partner in 2013 and has also spent time working in the Fixed Income, Japanese, European and UK Equity Teams. Spencer managed the Investment Grade Long Bond Fund whilst being a Fixed Income Investment Manager and the European portion of wider Global portfolios whilst in the European Team. He has also spent time with our Emerging Markets Team. Spencer has been involved in the Global Alpha portfolio since inception in 2005 and has focused exclusively on this portfolio management responsibility since early 2007. He graduated BSc in Medicine from the University of St Andrews in 1997, followed by two years of clinical training in Edinburgh.
Fund Overview
| Mid (02/05/2024) | 10230.00p |
| Historic yield | 0.41% |
| Fund size (31/03/2024) | £1336.85m |
| Number of holdings | 92 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.59% |
| Launch date | 01/07/1980 |
Asset Allocation
| International Equities | 98.00% | |
| UK Equities | 1.12% | |
| Cash and Equivalents | 0.88% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 98.00% | |
| UK Equities | 1.12% | |
| Cash and Equivalents | 0.88% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Technology | 29.89% | - | - | - | |
| Technology | - | 29.89% | - | - | |
| Software & Computer Services | - | - | 20.18% | - | |
| Consumer Digital Services | - | - | - | 13.47% | |
| Software | - | - | - | 5.52% | |
| Computer Services | - | - | - | 1.18% | |
| Technology Hardware & Equipment | - | - | 9.72% | - | |
| Semiconductors | - | - | - | 7.07% | |
| Production Technology Equipment | - | - | - | 2.65% | |
| Consumer Discretionary | 22.02% | - | - | - | |
| Consumer Products & Services | - | 6.95% | - | - | |
| Consumer Services | - | - | 3.73% | - | |
| Funeral Parlors & Cemetery | - | - | - | 2.17% | |
| Consumer Services: Misc. | - | - | - | 1.56% | |
| Personal Goods | - | - | 2.21% | - | |
| Luxury Items | - | - | - | 1.17% | |
| Cosmetics | - | - | - | 0.53% | |
| Clothing & Accessories | - | - | - | 0.51% | |
| Leisure Goods | - | - | 1.01% | - | |
| Recreational Products | - | - | - | 1.01% | |
| Retail | - | 6.87% | - | - | |
| Retailers | - | - | 6.87% | - | |
| Diversified Retailers | - | - | - | 4.99% | |
| Home Improvement Retailers | - | - | - | 1.43% | |
| Specialty Retailers | - | - | - | 0.45% | |
| Media | - | 3.61% | - | - | |
| Media | - | - | 3.61% | - | |
| Entertainment | - | - | - | 1.64% | |
| Media Agencies | - | - | - | 1.24% | |
| Radio & TV Broadcasters | - | - | - | 0.73% | |
| Travel & Leisure | - | 3.58% | - | - | |
| Travel & Leisure | - | - | 3.58% | - | |
| Airlines | - | - | - | 3.10% | |
| Casinos & Gambling | - | - | - | 0.48% | |
| Automobiles & Parts | - | 1.01% | - | - | |
| Automobiles & Parts | - | - | 1.01% | - | |
| Automobiles | - | - | - | 1.01% | |
| Industrials | 18.46% | - | - | - | |
| Industrial Goods & Services | - | 9.79% | - | - | |
| Industrial Support Services | - | - | 4.13% | - | |
| Transaction Processing Services | - | - | - | 4.13% | |
| Industrial Engineering | - | - | 3.25% | - | |
| Machinery: Construction & Handling | - | - | - | 1.82% | |
| Machinery: Industrial | - | - | - | 1.15% | |
| Machinery: Engines | - | - | - | 0.29% | |
| General Industrials | - | - | 1.55% | - | |
| Diversified Industrials | - | - | - | 0.95% | |
| Paints & Coatings | - | - | - | 0.60% | |
| Electronic & Electrical Equipment | - | - | 0.86% | - | |
| Electrical Components | - | - | - | 0.86% | |
| Construction & Materials | - | 8.67% | - | - | |
| Construction & Materials | - | - | 8.67% | - | |
| Building Materials: Other | - | - | - | 3.80% | |
| Cement | - | - | - | 2.94% | |
| Building, Roofing/Wallboard & Plumbing | - | - | - | 1.14% | |
| Building: Climate Control | - | - | - | 0.79% | |
| Health Care | 11.53% | - | - | - | |
| Health Care | - | 11.53% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 4.27% | - | |
| Pharmaceuticals | - | - | - | 2.23% | |
| Biotechnology | - | - | - | 2.04% | |
| Medical Equipment & Services | - | - | 3.82% | - | |
| Medical Equipment | - | - | - | 2.60% | |
| Medical Supplies | - | - | - | 0.86% | |
| Medical Services | - | - | - | 0.35% | |
| Health Care Providers | - | - | 3.43% | - | |
| Health Care Management Services | - | - | - | 3.43% | |
| Financials | 8.59% | - | - | - | |
| Financial Services | - | 4.59% | - | - | |
| Finance & Credit Services | - | - | 3.88% | - | |
| Financial Data & Systems | - | - | - | 3.88% | |
| Investment Banking & Brokerage Services | - | - | 0.71% | - | |
| Investment Services | - | - | - | 0.71% | |
| Insurance | - | 3.09% | - | - | |
| Non-life Insurance | - | - | 2.12% | - | |
| Insurance Brokers | - | - | - | 1.25% | |
| Property & Casualty Insurance | - | - | - | 0.87% | |
| Life Insurance | - | - | 0.97% | - | |
| Life Insurance | - | - | - | 0.97% | |
| Banks | - | 0.91% | - | - | |
| Banks | - | - | 0.91% | - | |
| Banks | - | - | - | 0.91% | |
| Energy | 2.75% | - | - | - | |
| Energy | - | 2.75% | - | - | |
| Non-Renewable Energy | - | - | 2.75% | - | |
| Oil Refining and Marketing | - | - | - | 2.53% | |
| Oil: Crude Producers | - | - | - | 0.21% | |
| Real Estate | 1.97% | - | - | - | |
| Real Estate | - | 1.97% | - | - | |
| Real Estate Investment & Services | - | - | 1.97% | - | |
| Real Estate Services | - | - | - | 1.97% | |
| Basic Materials | 1.88% | - | - | - | |
| Basic Resources | - | 1.32% | - | - | |
| Industrial Metals & Mining | - | - | 1.23% | - | |
| General Mining | - | - | - | 1.23% | |
| Industrial Materials | - | - | 0.09% | - | |
| Forestry | - | - | - | 0.09% | |
| Chemicals | - | 0.56% | - | - | |
| Chemicals | - | - | 0.56% | - | |
| Chemicals: Diversified | - | - | - | 0.56% | |
| Consumer Staples | 1.02% | - | - | - | |
| Food, Beverage & Tobacco | - | 1.02% | - | - | |
| Beverages | - | - | 1.02% | - | |
| Distillers & Vintners | - | - | - | 1.02% | |
| Telecommunications | 1.02% | - | - | - | |
| Telecommunications | - | 1.02% | - | - | |
| Telecommunications Equipment | - | - | 1.02% | - | |
| Telecommunications Equipment | - | - | - | 1.02% | |
| Cash and Equivalents | 0.88% | - | - | - | |
| Non-Classified | 0.00% | - | - | - | |
Regional Allocation
| North America | 62.24% | |
| Developed Europe - Excl UK | 18.90% | |
| Emerging Asia | 8.72% | |
| Japan | 4.54% | |
| Developed Asia | 1.45% | |
| Australia & New Zealand | 1.44% | |
| UK | 1.12% | |
| Cash and Equivalents | 0.88% | |
| South & Central America | 0.71% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 98.83% | |
| Cash | 1.11% | |
| Euro | 0.06% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| North America | 62.24% | - | |
United States
|
- | 60.89% | |
Canada
|
- | 1.35% | |
| Developed Europe - Excl UK | 18.90% | - | |
Ireland
|
- | 6.99% | |
Netherlands
|
- | 3.35% | |
France
|
- | 1.99% | |
Sweden
|
- | 1.82% | |
Denmark
|
- | 1.65% | |
Norway
|
- | 1.20% | |
Switzerland
|
- | 1.17% | |
Luxembourg
|
- | 0.73% | |
| Emerging Asia | 8.72% | - | |
India
|
- | 3.44% | |
Taiwan
|
- | 2.33% | |
China
|
- | 1.93% | |
South Korea
|
- | 1.02% | |
| Japan | 4.54% | - | |
Japan
|
- | 4.54% | |
| Developed Asia | 1.45% | - | |
Hong Kong
|
- | 1.45% | |
| Australia & New Zealand | 1.44% | - | |
Australia
|
- | 1.44% | |
| UK | 1.12% | - | |
United Kingdom
|
- | 1.12% | |
| Cash and Equivalents | 0.88% | - | |
| South & Central America | 0.71% | - | |
Brazil
|
- | 0.71% | |
Breakdown By Market Cap (%)
| Mega |
|
49.91% |
| Large |
|
24.19% |
| Medium |
|
10.80% |
| Small |
|
0.97% |
| Non-Classified |
|
13.25% |
| Cash |
|
0.88% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | META PLATFORMS | 4.07% | Software & Computer Services | United States |
| 2 | MICROSOFT CORPORATION | 3.89% | Software & Computer Services | United States |
| 3 | AMAZON.COM | 3.80% | Retailers | United States |
| 4 | MARTIN MARIETTA MATERIALS INC | 3.80% | Construction & Materials | United States |
| 5 | ELEVANCE HEALTH | 3.43% | Health Care Providers | United States |
| 6 | CRH | 2.94% | Construction & Materials | Ireland |
| 7 | MOODY'S CORPORATION | 2.94% | Finance & Credit Services | United States |
| 8 | RELIANCE INDUSTRIES LIMITED | 2.53% | Non-Renewable Energy | India |
| 9 | TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 2.33% | Technology Hardware & Equipment | Taiwan |
| 10 | MASTERCARD INCORPORATED | 2.18% | Industrial Support Services | United States |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 29.89% | - | - | - | - | - | - | 29.89% |
| Telecommunications | - | 1.02% | - | - | - | - | - | - | 1.02% |
| Financials | - | 8.59% | - | - | - | - | - | - | 8.59% |
| Real Estate | - | 1.97% | - | - | - | - | - | - | 1.97% |
| Consumer Discretionary | - | 22.02% | - | - | - | - | - | - | 22.02% |
| Consumer Staples | - | 1.02% | - | - | - | - | - | - | 1.02% |
| Energy | - | 2.75% | - | - | - | - | - | - | 2.75% |
| Health Care | 1.12% | 10.40% | - | - | - | - | - | - | 11.53% |
| Industrials | - | 18.46% | - | - | - | - | - | - | 18.46% |
| Basic Materials | - | 1.88% | - | - | - | - | - | - | 1.88% |
| Cash and Equivalents | - | - | - | - | - | - | - | 0.88% | 0.88% |
| Non-Classified | - | - | - | - | - | - | - | - | - |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | 0594127 |
| Mex Code | BGII |
| Isin Code | GB0005941272 |
| Citi Code | BG08 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.59% |
Aims and Benchmark
| Aims | Investment Objective The Sub-fund aims to outperform (after deduction of costs) the MSCI ACWI ex-UK Index, as stated in Sterling, by at least 2% per annum over rolling five-year periods. Investment Policy The Sub-fund will invest at least 90% in shares of companies anywhere in the world (excluding the UK). The Sub-fund will be actively managed and will invest in companies of any sector. To the extent that the Sub-fund is not fully invested in such shares, the Sub-fund may also invest in other transferable securities of companies anywhere in the world (excluding the UK), money market instruments, deposits and cash. The Sub-fund may not invest in or otherwise use derivatives. |
| Benchmark | MSCI ACWI ex-UK Index + 2% |
| Benchmark Category | - |
| IA Sector | Global |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 10:00 |
| Fund type | OEIC |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Biannually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 31 January | 31 March |
| 31 July | 30 September |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| 5.10% | - |
Fund Administration
| Fund Trustee/Depository | NatWest Trustee and Depositary Services Limited |
| Fund Administrator | Internal |
| Fund Registrar | Internal |
| Fund Custodian | Bank of New York Mellon Trust & Depositary Co. Ltd |
Group Details
| Group name | Baillie Gifford & Co |
| Group address | Calton Square 1 Greenside Row Edinburgh EH1 3AN |
| Group telephone | 0800 917 4752 |
| Dealing telephone | 0800 917 4750 |
| trustenquiries@bailliegifford.com | |
| Homepage | www.bailliegifford.com/intermediaries |
| Fax number | 0131 275 3955 |
Dealing
| Minimum Investment | £1000 |
| Minimum Top Up | £0 |
| Minimum Regular Saving | £50 |
| Settlement Period: Buy | 3 days |
| Settlement Period: Sell | 3 days |
| Pricing Basis | Forward |
| Dealing Decimals | - |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | -6.50 |
| Beta | 1.37 |
| Sharpe | -0.01 |
| Standard Deviation | 15.81 |
| Info Ratio | -0.74 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | Yes |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Emerging Markets
The fund invests in emerging markets. Generally less well regulated than the UK. There is an increased chance of political and economic instability with less reliable custody, dealing and settlement arrangements. The market(s) can be less liquid. If a fund investing in markets is affected by currency exchange rates, the investment could either increase or decrease. These investments therefore carry more risk.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.