Morningstar Fund Report  | 17/04/2025Print

Baillie Gifford High Yield Bond Fund A Income

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Baillie Gifford High Yield Bond Fund A Income
Fund1.9-13.910.710.21.1
+/-Cat-1.9-3.2-0.52.00.0
+/-B’mrk-2.8-2.2-2.11.80.0
 
Category: Global High Yield Bond - GBP Hedged
Category Benchmark: Morningstar Gbl HY Bd GR Hd...
Key Stats
NAV
16/04/2025		 GBX 107.10
Day Change 0.19%
Morningstar Category™ Global High Yield Bond - GBP Hedged
IA (formerly IMA) Sector £ High Yield
ISIN GB0030816606
Fund Size (Mil)
15/04/2025		 GBP 319.60
Share Class Size (Mil)
31/03/2025		 GBP 6.32
Max Initial Charge -
Ongoing Charge
06/02/2025		  1.03%
Morningstar Research
Analyst Report12/04/2024
Giovanni Cafaro, Analyst
Morningstar, Inc

Baillie Gifford High Yield Bond has increased its team’s headcount, but we believe it still has some limitations to effectively execute its research-intensive bottom-up process. Fees here sit toward the very bottom end of the peer group and the...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People22
Parent25
Process23
Performance
Price
Investment Objective: Baillie Gifford High Yield Bond Fund A Income
The Sub-fund aims to produce a combination of income and capital growth. The Sub-fund will invest at least 80% in sub-investment grade bonds and will be actively managed. To the extent that the Sub-fund is not fully invested in subinvestment grade bonds, the Sub-fund may also invest in other bonds, shares, other transferable securities, money market instruments, deposits and cash.
Returns
Trailing Returns (GBP)16/04/2025
YTD-0.72
3 Years Annualised3.52
5 Years Annualised4.20
10 Years Annualised2.98
12 Month Yield 7.34
Dividend Paying Frequency Quarterly
Management
Manager Name
Start Date
Arthur Milson
01/01/2023
Faisal Islam
01/03/2024
Inception Date
06/09/2002

Category Benchmark
Fund BenchmarkMorningstar Benchmark
IA Sterling High Yield Bond TR GBPMorningstar Gbl HY Bd GR Hdg GBP
Portfolio Profile for  Baillie Gifford High Yield Bond Fund A Income31/03/2025
Fixed Income
Effective Maturity4.51
Effective Duration2.40
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock0.000.000.00
Bond98.220.6497.57
Property0.000.000.00
Cash169.88167.452.43
Other0.000.000.00
Growth Of 1000 (GBP) 31/03/2025
Fund:  Baillie Gifford High Yield Bond Fund A Income
Category:  Global High Yield Bond - GBP Hedged
Category Index:  Morningstar Gbl HY Bd GR Hdg GBP
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-3.1411.182.181.92-13.8910.7210.171.06
+/- Category0.79-0.20-1.43-1.94-3.15-0.542.03-0.01
+/- Category Index---2.78-2.81-2.20-2.101.78-0.04
% Rank in Category3946846686661547
Trailing Returns (GBP)16/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.19   -0.13-0.08
1 Week0.47   -0.17-0.70
1 Month-1.50   0.08-0.14
3 Months-1.23   -0.53-0.58
6 Months1.00   0.660.50
YTD-0.72   -0.14-0.48
1 Year7.75   1.240.15
3 Years Annualised3.52   -0.71-1.13
5 Years Annualised4.20   -1.23-1.27
10 Years Annualised2.98   -0.39-0.92
 
Category: Global High Yield Bond - GBP Hedged
Category Index: Morningstar Gbl HY Bd GR Hdg GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20251.06---
20242.391.444.031.96
20230.082.541.156.66
2022-5.44-10.75-2.754.91
20210.461.540.69-0.78
2020-16.6514.752.634.11
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageAbove Average3 star
5-YearBelow AverageAbove Average2 star
10-YearAverageAbove Average3 star
OverallAverageAbove Average3 star
 
Category :  Global High Yield Bond - GBP HedgedClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev8.30 %
3-Yr Mean Return4.28 %
 
3-Yr Sharpe Ratio0.03
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Gbl HY Bd GR Hdg GBP  Morningstar UK HY Bd GR GBP
3-Yr Beta0.911.06
3-Yr Alpha-0.48-2.73
 
Fixed Income Style31/03/2025
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)GBP 291
Maturity Distribution %
1 to 310.47
3 to 555.47
5 to 726.55
7 to 106.35
10 to 150.65
15 to 200.00
20 to 300.52
Over 300.00
Effective Maturity4.51
Effective Duration2.40
Credit Quality Breakdown %     %
AAA0.00   BB22.60
AA1.06   B64.80
A1.01   Below B4.31
BBB2.04   Not Rated4.18
 
Category: Global High Yield Bond - GBP Hedged
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock0.000.000.00
Bond98.220.6497.57
Property0.000.000.00
Cash169.88167.452.43
Other0.000.000.00
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings0
Total Number of Bond Holdings125
Assets in Top 10 Holdings14.22
NameSectorCountry% of Assets
I.M.A. Industria Macchine Automatiche... Italy1.72
Neopharmed Gentili S.p.A. 7.125%Italy1.62
Burford Capital Global Finance LLC 9.25%United States1.44
Virgin Media Vendor Financing Notes I... United Kingdom1.44
HT Troplast GmbH 9.375%Germany1.42
Mercer International Inc. 12.875%Canada1.40
Venture Global LNG Inc. 8.125%United States1.32
Altice France S.A 5.875%France1.31
Waga BondCo Ltd. 8.5%United Kingdom1.31
Kier Group PLC 9%United Kingdom1.25
 
Increase Decrease New since last portfolio
Category: Global High Yield Bond - GBP Hedged
 
Management
Name of CompanyBaillie Gifford & Co Limited.
Phone44 0131 275 2000
Websitewww.bailliegifford.com
AddressCalton Square
 Edinburgh   EH1 3AN
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date06/09/2002
Fund Advisor(s)
Baillie Gifford & Co
Fund ManagerArthur Milson
Manager Start Date01/01/2023
Education
Edinburgh University, B.S.
 
Biography
Arthur Milson is an investment manager in the Credit Team. He is co-manager of our high yield bond funds and a member of the High Yield Portfolio Group. Before joining Baillie Gifford in 2022, Arthur worked for abrdn/Standard Life Investments for 16 years, where he was responsible for managing a number of high yield funds. Arthur graduated BSc Biological Sciences from The University of Edinburgh in 1992, has a postgraduate diploma in Commerce from The University of Wollongong and is a Chartered Accountant.
Fund ManagerFaisal Islam
Manager Start Date01/03/2024
 
Biography
Faisal is an investment manager in the Credit Team and a member of the High Yield and Crossover Portfolio Group. Before joining Baillie Gifford in 2018, he worked for four years at PwC where he qualified as a chartered accountant in corporate finance, before moving to Aberdeen Standard Investments in 2016, where he worked as a high yield credit analyst. Faisal graduated BSc in Economics from the London School of Economics and Political Science in 2011 and is a CFA Charterholder.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.00%
Ongoing Charge1.03%
Purchase Details
Minimum Investments
Initial1000  GBP
Additional100  GBP
Savings-
Tax Free Savings Schemes
ISAsYes