Overview
The Global Alpha Fund aims to produce capital growth over the long term by investing primarily in global equities. Performance will be measured against the MSCI ACWI Index.
The Fund invests in an actively managed portfolio of stocks from around the world with the intention of delivering significantly higher total returns than the MSCI ACWI Index before fees. We focus on companies which we believe offer above average profit growth and we invest with a long-term (five year) perspective. The Fund’s three dedicated investment managers draw on a combination of their own investment ideas and those of our various investment teams to produce a portfolio that typically holds 70–120 stocks.
Investment Proposition
The Fund invests in an actively managed portfolio of stocks from around the world with the intention of delivering significantly higher total returns than the MSCI ACWI Index before fees. We focus on companies which we believe offer above average profit growth and we invest with a long-term (five year) perspective. The Fund’s three dedicated investment managers draw on a combination of their own investment ideas and those of our various investment teams to produce a portfolio that typically holds 70–120 stocks.
Annualized total returns as of month end 6/30/2024 1 Month*
3 Months*
YTD*
1 Year
3 Years
5 Years
10 Years
Series F 1.67% 1.13% 11.62% 16.63% -0.57% 9.08% 11.32% MSCI ACWI Index 2.65% 4.16% 15.79% 24.01% 9.53% 12.30% 11.75% *Returns for periods less than one year are not annualized and are as of the date shown above.
Source: Revolution, MSCI.
Fund inception date: 15 July, 2009
All the returns presented are net of investment management fees. The results reflect the deduction of investment management fees charged within the fund. Fees are charged within the fund.
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
Discrete performance figures to 12/31/2023 12/31/2018
12/31/201912/31/2019
12/31/202012/31/2020
12/31/202112/31/2021
12/31/202212/31/2022
12/31/2023Share Class F 26.07% 33.87% 6.58% -24.00% 17.13% MSCI ACWI Index 20.86% 14.77% 18.02% -12.00% 19.51% Source: Revolution, MSCI. Canadian dollars. Fund performance shown is based on the NAV calculated by CIBC Mellon Trust Company.
Performance 6/30/2024Baillie Gifford Global Alpha Fund - Share Class FSource: Revolution, MSCI.
Fund inception date: 15 July, 2009
Annualized total returns as of quarter end 6/30/2024*Returns for periods less than one year are not annualized and are as of the date shown above.
Source: Revolution, MSCI.
Fund inception date: 15 July, 2009
Stock Level Attribution
Top and bottom 5 relative contributors
One month to 30/11/2024Stock Name Contribution % Shopify 0.66 DUTCH BROS A 0.29 Doordash Inc 0.27 Comfort Systems USA 0.20 Block Inc 0.18 Tesla Inc -0.31 Prosus N.V. -0.20 PDD Holdings -0.18 Olympus -0.18 Li Auto 'H' -0.16 Holdings by sector 11/30/2024Fund %
- 1 Consumer Discretionary 22.90
- 2 Information Technology 18.78
- 3 Communication Services 12.55
- 4 Industrials 11.32
- 5 Financials 10.71
- 6 Health Care 10.02
- 7 Materials 7.57
- 8 Real Estate 2.08
- 9 Energy 1.86
- 10 Consumer Staples 1.02
- 11 Cash 1.18
- Total 100.00
Total may not sum due to rounding
Holdings by region 11/30/2024Fund %
- 1 North America 64.66
- 2 Europe (ex UK) 16.37
- 3 Emerging Markets 11.95
- 4 Developed Asia Pacific 5.43
- 5 UK 0.40
- 6 Cash 1.18
- Total 100.00
Total may not sum due to rounding
As at March 3, 2022, the Russian holdings held within the Fund were valued at zero by our Fair Value Pricing Committee due to the ongoing issues in the Russian market. As a result of the 0% weighting they have been excluded from the list above. Details of the stocks can be found in the full holdings list.
Insights
TAX & DISTRIBUTIONS
The Fund intends to pay dividends to its unitholders at least annually. Distributions will be automatically reinvested in additional units of the Fund or, if a unitholder requests, paid directly to unitholder.
The distribution date for the Fund shall be the last Valuation Date in each taxation year or such other frequency as may be determined by the Manager. The distribution dates will appear on this page alongside the rates once they become available. For more information on the Funds distributions please see the Offering Memorandum.
The below table shows the makeup of the most recent distributions paid.
Fund Name
Income Dividends
Capital Gain
Total Per Share
Ex. Date
Pay Date
Status
Global Alpha Fund Series F 0.23102 0.16491 0.39593 12/29/2023 12/29/2023 Final Global Alpha Fund Series Z 0.22299 0.15918 0.38217 12/29/2023 12/29/2023 Final Source: CIBC Mellon and Baillie Gifford & Co.
Documents
Factsheets
Sustainability-related disclosures and climate reports
Quarterly investor updates
Index Disclaimer
Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.
Important Information
The information provided does not constitute an offer of or solicitation for purchase or sale of securities or provision of any investment services. Baillie Gifford does not currently have any funds that offer securities under a simplified prospectus for general offer or sale within Canada. No securities regulatory authority in Canada has reviewed or in any way passed upon this website or the merits of any investment available, and any representation to the contrary is an offence.
Persons resident or domiciled in Canada should consult with their professional advisers as to whether they require any governmental or other consents in order to enable them to trade.
You can read details of our Legal and Important Information here.
Trade Matching Statement
This Trade-Matching Statement is being provided in accordance with National Instrument 24-101 -"Institutional Trade Matching and Settlement" and Companion Policy 24-101 CP (the "National
Instrument"). It applies to all trades that are subject to the National Instrument. View the whole statement.
