Morningstar Fund Report  | 17/04/2025Print

Baillie Gifford Emerging Markets Growth Fund A Accumulation

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Baillie Gifford Emerging Markets Growth Fund A Accumulation
Fund-8.4-19.07.54.71.5
+/-Cat-6.9-7.03.4-3.42.3
+/-B’mrk-7.5-11.23.5-4.32.4
 
Category: Global Emerging Markets Equity
Category Benchmark: Morningstar EM TME NR USD
Key Stats
NAV
16/04/2025		 GBX 749.90
Day Change -1.52%
Morningstar Category™ Global Emerging Markets Equity
IA (formerly IMA) Sector Global Emerging Markets
ISIN GB0006017825
Fund Size (Mil)
16/04/2025		 GBP 431.90
Share Class Size (Mil)
31/03/2025		 GBP 2.96
Max Initial Charge -
Ongoing Charge
06/02/2025		  1.55%
Investment Objective: Baillie Gifford Emerging Markets Growth Fund A Accumulation
The Sub-fund aims to outperform (after deduction of costs) the MSCI Emerging Markets Index, as stated in sterling, by at least 2% per annum over rolling five-year periods. The Sub-fund will invest at least 90% in shares of emerging market companies being those which are listed, incorporated, domiciled or conducting a significant portion of their business in emerging markets. Emerging markets will be determined by the investment manager at its sole discretion. The Sub-fund will be actively managed and will invest in companies of any size and in any sector.
Returns
Trailing Returns (GBP)16/04/2025
YTD-7.28
3 Years Annualised-0.93
5 Years Annualised3.49
10 Years Annualised4.43
12 Month Yield 1.29
Management
Manager Name
Start Date
Mike Gush
31/01/2015
Andrew Stobart
30/11/2019
Click here to see others
Inception Date
03/03/1997

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI EM NR GBPMorningstar EM TME NR USD
Portfolio Profile for  Baillie Gifford Emerging Markets Growth Fund A Accumulation31/01/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock99.130.0099.13
Bond0.000.000.00
Property0.000.000.00
Cash2.001.460.53
Other0.330.000.33
Top 5 Regions%
Asia - Emerging45.22
Asia - Developed28.43
Latin America16.41
United States3.34
Canada2.76
Top 5 Sectors%
Technology30.71
Consumer Cyclical22.74
Financial Services16.05
Communication Services8.71
Energy8.27
Top 5 HoldingsSector%
Taiwan Semiconductor Manufacturi... TechnologyTechnology9.59
Tencent Holdings LtdCommunication ServicesCommunication Services6.19
Samsung Electronics Co LtdTechnologyTechnology4.89
MercadoLibre IncConsumer CyclicalConsumer Cyclical4.11
Reliance Industries LtdEnergyEnergy3.32
Increase Decrease New since last portfolio
Baillie Gifford Emerging Markets Growth Fund A Accumulation
Growth Of 1000 (GBP) 31/03/2025
Fund:  Baillie Gifford Emerging Markets Growth Fund A Accumulation
Category:  Global Emerging Markets Equity
Category Index:  Morningstar EM TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-10.9622.7925.66-8.36-19.027.484.671.48
+/- Category0.318.5311.60-6.91-6.953.37-3.442.29
+/- Category Index-3.508.4311.77-7.50-11.173.50-4.342.36
% Rank in Category528109090187914
Trailing Returns (GBP)16/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-1.52   -2.01-2.07
1 Week3.46   0.750.82
1 Month-9.51   -3.04-3.22
3 Months-10.40   -3.71-4.28
6 Months-11.19   -3.36-3.36
YTD-7.28   -1.25-1.33
1 Year-5.71   -3.36-4.52
3 Years Annualised-0.93   -1.30-1.83
5 Years Annualised3.49   -1.49-2.24
10 Years Annualised4.43   0.860.04
 
Category: Global Emerging Markets Equity
Category Index: Morningstar EM TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20251.48---
20243.666.65-2.20-3.20
20233.550.81-0.353.33
2022-10.18-8.58-5.314.16
2021-1.215.22-9.79-2.28
2020-20.8724.487.4418.74
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageHigh3 star
5-YearAverageHigh2 star
10-YearAbove AverageHigh3 star
OverallAbove AverageHigh3 star
 
Category :  Global Emerging Markets EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev15.74 %
3-Yr Mean Return2.18 %
 
3-Yr Sharpe Ratio-0.12
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar EM TME NR USD  MSCI EM NR USD
3-Yr Beta1.151.10
3-Yr Alpha-0.44-0.54
 
Investment Style Details31/01/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 51092-
Market Capitalisation% of Equity
Giant69.21
Large18.41
Medium9.58
Small1.74
Micro1.07
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings12.331.03
Price/Book1.841.13
Price/Sales1.661.11
Price/Cash Flow4.880.76
Dividend-Yield Factor3.511.17
 
Long-Term Projected Earnings Growth12.391.11
Historical Earnings Growth1.380.15
Sales Growth0.760.15
Cash-Flow Growth2.100.43
Book-Value Growth4.470.52
 
Category: Global Emerging Markets Equity
Asset Allocation31/01/2025
Asset Allocation
 % Long% Short% Net Assets
Stock99.130.0099.13
Bond0.000.000.00
Property0.000.000.00
Cash2.001.460.53
Other0.330.000.33
World Regions31/01/2025
 % of EquityRelative to Category
United States3.343.41
Canada2.7621.11
Latin America16.411.78
United Kingdom0.000.00
Eurozone0.000.00
Europe - ex Euro0.000.00
Europe - Emerging1.320.59
Africa1.720.50
Middle East0.790.16
Japan0.000.00
Australasia0.000.00
Asia - Developed28.431.04
Asia - Emerging45.220.90
 
Category: Global Emerging Markets Equity
Sector Weightings31/01/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials6.911.57
Consumer CyclicalConsumer Cyclical22.741.50
Financial ServicesFinancial Services16.050.65
Real EstateReal Estate0.840.44
Consumer DefensiveConsumer Defensive3.770.79
HealthcareHealthcare0.550.16
Communication ServicesCommunication Services8.710.81
EnergyEnergy8.272.63
IndustrialsIndustrials1.440.22
TechnologyTechnology30.711.31
 
Category: Global Emerging Markets Equity
Top 10 Holdings31/01/2025
 Portfolio NEW
Total Number of Equity Holdings76
Total Number of Bond Holdings0
Assets in Top 10 Holdings41.32
NameSectorCountry% of Assets
Taiwan Semiconductor Manufacturing Co... 311Taiwan9.59
Tencent Holdings Ltd308China6.19
Samsung Electronics Co Ltd311Korea, Republic Of4.89
MercadoLibre Inc102Brazil4.11
Reliance Industries Ltd309India3.32
Alibaba Group Holding Ltd Ordinary Sh... 102China3.32
Petroleo Brasileiro SA Petrobras ADR309Brazil2.94
SK Hynix Inc311Korea, Republic Of2.61
MediaTek Inc311Taiwan2.22
Meituan Class B102China2.11
 
Increase Decrease New since last portfolio
Category: Global Emerging Markets Equity
 
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 Date03/03/1997
Fund Advisor(s)
Baillie Gifford & Co
Fund ManagerMike Gush
Manager Start Date31/01/2015
Education
2003, Durham University, M.S.
 
Biography
Mike Gush joined Baillie Gifford in 2003 and became a Partner of Baillie Gifford & Co in 2020. He first worked in the U.K. and Japanese Equities Teams before moving to the Emerging Markets Equity Team in 2005. Mr. Gush is a named manager for Baillie Gifford's emerging markets and China funds, as well as being responsible for the Emerging Markets Small Cap Strategy. He has also been involved with the Global Stewardship Strategy since its inception in 2015. He became a portfolio manager in 2006 and has researched all Emerging Markets during his career. Mr. Gush also has previous experience managing the Pacific Horizon Investment Trust and Baillie Gifford Pacific Fund. He is a CFA Charterholder and graduated MEng from the University of Durham in 2003. Mr. Gush has been a member of the team of portfolio managers in 2021.
Fund ManagerAndrew Stobart
Manager Start Date30/11/2019
Education
1987, University of Cambridge, M.A.
 
Biography
Andrew Stobart has been a portfolio manager in the Emerging Markets Team since 2007 and sits on the Emerging Markets All Cap Portfolio Construction Group. Mr. Stobart has also been a member of the International Alpha Portfolio Construction Group since 2008. Since joining Baillie Gifford as an Investment Analyst in 1991, Mr. Stobart has worked in the U.K., Japanese and North American Teams. Prior to joining Baillie Gifford, Mr. Stobart spent three years working in Investment Banking in London. Mr. Stobart graduated MA in Economics from the University of Cambridge in 1987. Mr. Stobart has been a member of the team since 2007.
Fund ManagerBen Durrant
Manager Start Date01/07/2021
 
Biography
Mr. Durrant is an Investment Manager in the Emerging Markets Team and before that he was an Investment Analyst in the Private Companies Team. He joined Baillie Gifford in 2017. He previously worked for RBS in their Group Strategy and Corporate Finance Team. He is also a Chartered Accountant and a CFA Charterholder. Ben graduated BSc (Hons) in Mathematics from the University of Edinburgh in 2012.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.47%
Ongoing Charge1.55%
Purchase Details
Minimum Investments
Initial1000  GBP
Additional100  GBP
Savings-
Tax Free Savings Schemes
ISAsYes