Baillie Gifford Emerging Markets Growth A

Managed from Edinburgh by dedicated team.

  • 832.90p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 1.50%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.57%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 1.20%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 18 September 2020, fund data last updated 06 August 2003

Baillie Gifford's Emerging Markets and Pacific team is one of the largest based in the UK. The fund manager displays not only a high degree of stock knowledge but also of the macro factors affecting the many regions within which this portfolio may invest.

Fund summary

Sector Global Emerging Markets
Structure OEIC
Launched March, 1997
Size £1,281m
Yield 1.20%
Charging basis
Dividends paid Acc units only

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.57%

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Investment process

The fund invests in emerging markets worldwide and in any economic sectors within each of these markets. The primary focus is Eastern Europe, Latin America and the Asian Pacific region. The approach is team based, with a sub-manager responsible for stock selection in each area. Stocks are selected on a bottom up basis, selecting companies that will post above average growth in earnings over the medium to long term.

Manager research

Average monthly relative returns

  • 15/16 0.28%
  • 16/17 0.58%
  • 17/18 -0.12%
  • 18/19 0.62%
  • 19/20 0.56%

Bestinvest MRI

  • 3 years 0.35%
  • 5 years 0.38%
  • Career 0.17%
  • 3 years 95.20%
  • 5 years 96.60%
  • Career 95.20%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Richard Sneller / William Sutcliffe

Sneller graduated BSc (Econ) in Statistics from the London School of Economics and MSc in Investment Analysis from Stirling University. He joined Baillie Gifford in 1994 and is an Investment Manager in the Emerging Markets Equities team. Sneller became a Partner in 2004. Sutcliffe graduated from Glasgow University with a MA in History in 1996. He joined Baillie Gifford in 1999 and is an Investment Manager in the Emerging Markets Investment Team.

Track record

Richard Sneller / William Sutcliffe has 12.5 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.17%. During the worst period of relative performance (from December 2015 - June 2016) there was a decline of 11% relative to the index. The worst absolute loss has been 46%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 95%.

Periods of worst performance

Absolute -46.00% (May 2008 - November 2008)
Relative -11.00% (December 2015 - June 2016)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

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Top 10 holdings

Data accurate as at 31 July 2020

8.7% Alibaba Group Hldg Ltd
8.3% Tencent Hldgs Limited
7.9% Taiwan Semiconductor Manufacturing
5.5% Samsung Electronics Co
3.8% Ping An Insurance(Gr)Co Of China
3.3% Reliance Industries
3.2% Sberbank Of Russia
3% Mmc Norilsk Nickel Pjsc
2.8% Media Tek Inc
2.8% Meituan Dianping
Source: Trustnet

Portfolio

The fund holds around 130 stocks.

Constraints

Industry and country level constraints can range from 0-20% depending upon the benchmark weight.

Key Investor Information

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