Baillie Gifford UK Equity Alpha A

Multicap UK equity fund with concentrated portfolio.

  • 486.30p
    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.

  • 648.30p
    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).

  • 1.53%
    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.

  • 0.60%
    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 15 February 2006

The fund aims to achieve a total return, before charges, in excess of the FTSE All-Share Index, over the long term. It will invest principally in UK companies, with at least 90% in value of the fund in shares of companies listed in the FTSE All-Share Index. The fund may invest in companies of all sizes and will have a concentrated portfolio, typically comprised of between 30 and 40 holdings.

Fund summary

Sector UK All Companies
Structure OEIC
Launched April, 1995
Size £556m
Yield 0.60%
Charging basis Income
Dividends paid 1 Feb, 1 Aug

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 1.53%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 15/16 0.29%
  • 16/17 0.03%
  • 17/18 1.31%
  • 18/19 -0.07%
  • 19/20 1.88%

Bestinvest MRI

  • 3 years 1.04%
  • 5 years 0.69%
  • Career 0.39%
  • 3 years 98.50%
  • 5 years 97.70%
  • Career 98.10%

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

Gerrard Callahan

Callahan graduated BA in Politics, Philosophy and Economics from Oxford University in 1991. He joined Baillie Gifford in the same year and became a Partner in 2000. He became head of their UK equity team in 2007.

Track record

Gerrard Callahan has 10 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.39%. During the worst period of relative performance (from October 2013 - November 2014) there was a decline of 16% relative to the index. The worst absolute loss has been 27%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 98%.

Periods of worst performance

Absolute -27.00% (December 2019 - March 2020)
Relative -16.00% (October 2013 - November 2014)

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.

Allocation

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Top 10 holdings

Data accurate as at 31 July 2020

8.3% Ocado Group Plc
7.7% Rightmove Plc
5.9% Auto Trader Group Plc
5.6% Homeserve
5.3% Aveva Group
5.1% Trainline Plc
4.9% Renishaw Plc
4.8% Hargreaves Lansdown Plc
4.4% Abcam
3.8% Oxford Instruments
Source: Trustnet

Sector breakdown

Consumer Services 37.00%
Industrials 19.00%
Financials 14.00%
Health Care 11.00%
Basic Materials 6.00%
Technology 5.00%
Consumer Goods 4.00%
Money Market 3.00%
Oil & Gas 1.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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