Overview
The Fund aims to outperform (after deduction of costs) the S&P 500 Index, as stated in Sterling, by at least 1.5% per annum over rolling five-year periods. There is no guarantee that this objective will be achieved over any time period and actual investment returns may differ from this objective, particularly over shorter time periods.
The manager believes this is an appropriate benchmark given the investment policy of the Fund and the approach taken by the manager when investing. In addition, the manager believes an appropriate performance comparison for this Fund is the Investment Association North America Sector.
Statement
The American Fund invests on a five to ten year view. The price of the Fund could change materially based on the valuations of a few companies. As such, it may not suit your investment needs.
Prior to considering an investment please take into account your tolerance for volatility in the value of the Fund’s share price and whether your investment time horizon aligns with the Fund’s. Company share prices can rise and fall significantly in the short run. They can be dominated by the sentiment of other investors, and are often swayed by news and events. We will not attempt to predict or control for short-term price changes; looking beyond the immediate environment is an important part of our process.
We manage the Fund this way because it is where we believe we have the greatest investment insight, which in turn gives us the best chance to deliver outstanding investment returns to shareholders over the next five years and beyond. The businesses we invest in are innovative, disruptive and run very differently to the average. Our investment horizon of at least five years, combined with our creative approach to research, helps us to see value where others don’t. But we cannot guarantee that we will be proven right, or that the Fund will achieve the returns we aim for.
If you are interested in finding out more then there is additional information in the Insights and Documents sections of the website.
Performance & Portfolio
Periodic Performance
All figures to 30/09/2024 6 Months
1 Year
3 Years
5 Years
Class B-Acc 1.4% 28.0% -11.0% 11.8% Index* 4.0% 24.1% 12.1% 14.0% Target Benchmark** 4.7% 25.4% 13.6% 15.5% Sector Average*** 1.6% 20.5% 8.5% 11.8% Sector Ranking 147/248 30/246 223/226 100/203 Figures for 3 and 5 years are shown as the annualised rate of return. This is the average yearly return over the specified period.
Annual Discrete Performance to 30 September each year
Annual percentage return (Updated Quarterly) 30/09/2019
30/09/202030/09/2020
30/09/202130/09/2021
30/09/202230/09/2022
30/09/202330/09/2023
30/09/2024Class B-Acc 100.9% 23.5% -47.0% 3.9% 28.0% Index* 9.8% 24.6% 2.1% 11.2% 24.1% Target Benchmark** 11.2% 26.2% 3.5% 12.8% 25.6% Sector Average*** 9.1% 25.4% -2.1% 8.2% 20.5% Please bear in mind that past performance is not a guide to future performance.
The value of your investment may go down as well as up, and you may not get back the amount you invested.
Source: FE, Revolution, S&P. Total return net of charges, in sterling.
Share class returns calculated using 10am prices, while the Index is calculated close-to-close.
*S&P 500 Index.
**S&P 500 Index (in sterling) plus at least 1.5% per annum over rolling five-year periods.
***IA North America Sector.Top Ten Holdings - 30/09/2024
Fund % 1 The Trade Desk 8.1% 2 Amazon.com 7.5% 3 Meta Platforms 6.1% 4 Shopify 5.2% 5 NVIDIA 5.0% 6 Tesla Inc 4.7% 7 DoorDash 4.7% 8 Netflix 4.6% 9 Duolingo 3.3% 10 Cloudflare 3.3% Total 52.5% Insights
View all Insights.Meet the Managers
Tom Slater
Tom Slater is a member of the Long Term Global Growth Team and manager of Baillie Gifford’s Scottish Mortgage Investment Trust. He joined Baillie Gifford in 2000 and became a partner of the firm in 2012. Tom joined the Scottish Mortgage Team as deputy manager in 2009, before assuming the role of manager in 2015. Beyond that, he is also the head of the US Equities Team and during his time at Baillie Gifford has also worked in the Developed Asia and UK Equity Teams. He graduated BSc in Computer Science with Mathematics from the University of Edinburgh in 2000.
Gary Robinson
Gary is an investment manager in the US Equity Growth Team. He joined Baillie Gifford in 2003 and became a partner in 2019. He worked on our Japanese, UK and European Equity teams before joining the US Equity Growth Team in 2008. Gary is a generalist investor but retains a special interest in the healthcare sector, dating back to his undergraduate degree. He graduated MBiochem in Biochemistry from Oxford University in 2003.
Kirsty Gibson
Kirsty joined Baillie Gifford in 2012 and is an investment manager in the US Equity Growth Team. She has been involved in running the North American portfolio of the Managed Fund and Global Core Fund since 2021. Prior to joining the US Equity Growth Team, Kirsty also spent several years in the small and large-cap global equities departments. She graduated MA (Hons) in Economics in 2011 and MSc in Carbon Management in 2012, both from the University of Edinburgh.
Dave Bujnowski
Dave is an investment manager in the US Equity Growth Team. He joined Baillie Gifford in 2018 and became a partner in 2021. Before joining the firm, he co-founded Coburn Ventures in 2005. The company studies change to understand what shapes investment opportunities. Dave has also held various hedge fund roles. He began his career in 1996 at Warburg Dillon before joining UBS. Dave graduated from Boston College in 1993, where he majored in Finance and Philosophy.
How to Buy
Further information on the funds can be found in the relevant Key Investor Information and Prospectus Documents, which are available in English and will be sent to you free of charge on request.
You can invest in our funds via a number of fund platforms. Information on the range of funds available through platforms can be obtained from platforms@bailliegifford.com
OEIC Terms of Business
To buy and sell our funds, you must complete and return a copy of the document below, if you don't already have an agreement with us. In order for us to accept your business for our range of OEICs, please complete and return the Terms of Business Acceptance Form.
Documents
You can access any literature about the Fund here, either by downloading or requesting a copy by post (where available).
To download any document you will need Adobe Reader. Please note that we can now provide you with Braille and audio transcriptions of our literature on request. It may take up to 10 days for the transcription to be completed dependent on the size of the document.
Enhanced disclosure document
Key investor information documents (KIIDs)
Philosophy and process documents
Value assessment
Risks
General Investment Risk
Investment markets can go down as well as up and market conditions can change rapidly. The value of an investment in the Fund, and any income from it, can fall as well as rise and investors may not get back the amount invested.
Custody
Custody of assets involves a risk of loss if a custodian becomes insolvent or breaches duties of care.
Single Country
The Fund’s exposure to a single market and currency may increase share price movements.
Concentration
The Fund’s concentrated portfolio relative to similar funds may result in large movements in the share price in the short term.
Foreign Currency
The Fund has exposure to foreign currencies and changes in the rates of exchange will cause the value of any investment, and income from it, to fall as well as rise and you may not get back the amount invested.
Volatility
The Fund’s share price can be volatile due to movements in the prices of the underlying holdings and the basis on which the Fund is priced.
Dilution
A dilution adjustment may apply when you buy or sell shares in the Fund. This is applied to the share price and may reduce the return on your investment.
Fees From Revenue
Where possible, charges are taken from the Fund's revenue. Where there is insufficient revenue, the remainder will be taken from capital. This will reduce the capital value of your investment.
Tax Rates
Tax rates and the tax treatment of OEICs can change at any time.
Important Information
Your location indicates you are based in the Channel Islands and you have confirmed that you are an intermediary. The information in the website is not intended for retail investors. Please select “Change” at the top of the page if this is not suitable for you.
Baillie Gifford Investment Management (Europe) Limited is authorised and regulated by the Central Bank of Ireland (Reference number C182354) as an Alternative Investment Fund Manager and UCITS Manager to Baillie Gifford Worldwide Funds plc. Its registered office is 4/5 School House Lane East, Dublin 2, D02 N279, Ireland.
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. You can read details of our Legal and Important Information here.
