Morningstar Fund Report  | 23/04/2025Print

Baillie Gifford Worldwide Positive Change Fund Class A USD Acc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Baillie Gifford Worldwide Positive Change Fund Class A USD Acc
Fund10.4-21.77.54.3-6.7
+/-Cat-4.2-3.6-8.6-10.9-0.1
+/-B’mrk-7.7-2.8-14.8-19.61.9
 
Category: Global Large-Cap Growth Equity
Category Benchmark: Morningstar Gbl Growth TME ...
Key Stats
NAV
22/04/2025		 USD 15.66
Day Change -0.45%
Morningstar Category™ Global Large-Cap Growth Equity
ISIN IE00BK70ZP28
Fund Size (Mil)
22/04/2025		 USD 1093.75
Share Class Size (Mil)
22/04/2025		 USD 15.57
Max Initial Charge 5.00%
Ongoing Charge
18/02/2025		  1.58%
Morningstar Research
Analyst Report02/05/2024
Ronald van Genderen, Senior Analyst
Morningstar, Inc

Baillie Gifford Positive Change builds on the firm’s long-standing experience in growth investing, with an impact objective added on top. Nonetheless, some reservations about its investment team and the strategy’s bold portfolio hold back our...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People23
Parent25
Process23
Performance
Price
Investment Objective: Baillie Gifford Worldwide Positive Change Fund Class A USD Acc
The investment objectives of the Fund are to produce capital growth over the long term and to contribute towards a more sustainable and inclusive world by investing primarily in the equities of companies whose products and/or services make a positive social and/or environmental impact. The Fund may also invest in other transferable securities, money market instruments, cash and cash equivalents.
Returns
Trailing Returns (GBP)22/04/2025
YTD-13.64
3 Years Annualised-3.64
5 Years Annualised6.28
10 Years Annualised-
12 Month Yield 0.00
Management
Manager Name
Start Date
Kate Fox
08/05/2018
Lee Qian
08/05/2018
Click here to see others
Inception Date
13/12/2019

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI ACWI NR USDMorningstar Gbl Growth TME NR USD
Portfolio Profile for  Baillie Gifford Worldwide Positive Change Fund Class A USD Acc28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock99.610.0099.61
Bond0.000.000.00
Property0.000.000.00
Cash0.390.000.39
Other0.000.000.00
Top 5 Regions%
United States47.17
Asia - Emerging11.99
Asia - Developed10.78
Latin America9.72
Eurozone8.97
Top 5 Sectors%
Technology38.75
Healthcare16.39
Industrials12.82
Consumer Cyclical11.78
Financial Services9.53
Top 5 HoldingsSector%
Taiwan Semiconductor Manufacturi... TechnologyTechnology7.59
MercadoLibre IncConsumer CyclicalConsumer Cyclical7.31
ASML Holding NVTechnologyTechnology5.05
Shopify Inc Registered Shs -A- S... TechnologyTechnology4.58
Ecolab IncBasic MaterialsBasic Materials4.29
Increase Decrease New since last portfolio
Baillie Gifford Worldwide Positive Change Fund Class A USD Acc
Growth Of 1000 (GBP) 31/03/2025
Fund:  Baillie Gifford Worldwide Positive Change Fund Class A USD Acc
Category:  Global Large-Cap Growth Equity
Category Index:  Morningstar Gbl Growth TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 2020202120222023202431/03
Price Return80.9910.37-21.737.474.31-6.66
+/- Category57.29-4.20-3.65-8.55-10.88-0.09
+/- Category Index--7.70-2.75-14.84-19.641.94
% Rank in Category27177879451
Trailing Returns (GBP)22/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.45   0.99-2.26
1 Week-2.58   0.310.20
1 Month-8.86   0.220.54
3 Months-18.30   -1.011.02
6 Months-11.12   -0.27-0.09
YTD-13.64   -0.801.05
1 Year-5.46   -0.42-4.26
3 Years Annualised-3.64   -6.48-10.06
5 Years Annualised6.28   -1.08-3.34
10 Years Annualised-   --
 
Category: Global Large-Cap Growth Equity
Category Index: Morningstar Gbl Growth TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-6.66---
20242.38-1.92-2.536.57
20233.981.26-6.829.55
2022-10.07-21.825.335.69
2021-1.7713.885.52-6.50
2020-0.8936.5516.4314.87
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearLowAbove Average1 star
5-YearAverageHigh2 star
10-Year--Not Rated
OverallBelow AverageHigh2 star
 
Category :  Global Large-Cap Growth EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev17.94 %
3-Yr Mean Return-1.54 %
 
3-Yr Sharpe Ratio-0.31
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Gbl Growth TME NR USD  Morningstar Gbl Growth TME NR USD
3-Yr Beta1.081.08
3-Yr Alpha-9.11-9.11
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 59720-
Market Capitalisation% of Equity
Giant43.64
Large20.24
Medium26.54
Small7.66
Micro1.92
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings26.101.16
Price/Book4.170.90
Price/Sales4.631.29
Price/Cash Flow15.901.02
Dividend-Yield Factor1.150.94
 
Long-Term Projected Earnings Growth12.501.15
Historical Earnings Growth16.801.27
Sales Growth9.811.05
Cash-Flow Growth22.711.88
Book-Value Growth12.861.12
 
Category: Global Large-Cap Growth Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock99.610.0099.61
Bond0.000.000.00
Property0.000.000.00
Cash0.390.000.39
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States47.170.72
Canada5.132.71
Latin America9.728.62
United Kingdom0.950.19
Eurozone8.970.83
Europe - ex Euro5.301.02
Europe - Emerging0.000.00
Africa0.000.00
Middle East0.000.00
Japan0.000.00
Australasia0.000.00
Asia - Developed10.782.92
Asia - Emerging11.994.16
 
Category: Global Large-Cap Growth Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials7.472.60
Consumer CyclicalConsumer Cyclical11.780.98
Financial ServicesFinancial Services9.530.64
Consumer DefensiveConsumer Defensive1.140.23
HealthcareHealthcare16.391.19
Communication ServicesCommunication Services2.130.26
IndustrialsIndustrials12.821.15
TechnologyTechnology38.751.31
 
Category: Global Large-Cap Growth Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings35
Total Number of Bond Holdings0
Assets in Top 10 Holdings49.07
NameSectorCountry% of Assets
Taiwan Semiconductor Manufacturing Co... 311Taiwan7.59
MercadoLibre Inc102Brazil7.31
ASML Holding NV311Netherlands5.05
Shopify Inc Registered Shs -A- Subord... 311Canada4.58
Ecolab Inc101United States4.29
Duolingo Inc311United States4.25
HDFC Bank Ltd103India4.06
Microsoft Corp311United States4.02
Alnylam Pharmaceuticals Inc206United States3.99
Autodesk Inc311United States3.93
 
Increase Decrease New since last portfolio
Category: Global Large-Cap Growth Equity
 
Management
Name of CompanyBaillie Gifford Investment Management (Europe) Limited
Phone-
Website -
Address4/5 School House Lane East
 Dublin   -
 Ireland
DomicileIreland
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date13/12/2019
Fund Advisor(s)
Baillie Gifford Overseas Limited
Fund ManagerKate Fox
Manager Start Date08/05/2018
Education
2001, University of Edinburgh, M.A.
 
Biography
Ms. Fox joined Baillie Gifford in 2002 and will become a Partner of Baillie Gifford & Co, on May 1, 2020. She is a portfolio manager for the Positive Change strategy and a member of the Positive Change and Pan-European Smaller Companies Portfolio Construction Groups. Ms. Fox is a CFA Charterholder and graduated MA in Economics and Maths from the University of Edinburgh in 2001. Ms. Fox has been a member of since the Baillie Gifford Funds's inception in 2017
Fund ManagerLee Qian
Manager Start Date08/05/2018
Education
2012, University of Oxford, B.A.
 
Biography
Mr. Qian Joined Baillie Gifford in 2012 and is a portfolio manager for the Positive Change strategy and a member of the Positive Change Portfolio Construction Group. He is a CFA Charterholder. Mr. Qian graduated BA (Hons) in Economics and Management from the University of Oxford in 2012. Mr. Qian has been a member of the team since the Baillie Gifford Fund's inception in 2017.
Fund ManagerThaiha Nguyen
Manager Start Date01/07/2022
 
Biography
Thaiha is an Investment Manager and joined Baillie Gifford in 2014. Following rotations across several investment teams, she spent 4 years in the North American team before joining the Positive Change team in 2021, following two years of working closely with the team. In July 2022 she became a decision maker for the strategy. She is a CFA Charterholder and graduated BA (Hons) in Economics from the University of Cambridge in 2014.
Fund ManagerEdward Whitten
Manager Start Date30/09/2020
Fund ManagerApricot Wilson
Manager Start Date30/09/2023
Career Start Year2002
Education
2010, University of Cambridge, M.A.
2019, China Europe International Business School, M.B.A.
 
Biography
Having worked in development, Apricot has been impressed by the power of financial markets to generate positive societal change. She has a particular interest in opportunities which support those living at the base of the economic pyramid. Apricot joined Baillie Gifford in 2022 and is a Senior Impact Analyst and decision maker in the Positive Change Team. She is a CFA Charterholder and has an MBA from the China Europe International Business School in Shanghai. Her first degree was in Modern and Medieval Languages from the University of Cambridge.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.50%
Ongoing Charge1.58%
Purchase Details
Minimum Investments
Initial1000  USD
Additional-
Savings-
Tax Free Savings Schemes
ISAsNo