- Global
Existing investors01. Your location
GlobalSelect region
02. Your user type
Overview
The Global Alpha Paris-Aligned Fund aims to outperform (after deduction of costs) the MSCI ACWI Index, as stated in Sterling, by at least 2% per annum over rolling five-year periods. In addition, the Fund commits to having a weighted average greenhouse gas intensity lower than that of the MSCI ACWI EU Paris Aligned Requirements Index.
Global Alpha Paris-Aligned is consistent with the objectives of the Paris Agreement. The portfolio is a variant of the core Global Alpha strategy. It is managed by the same team and with the same investment philosophy and performance objective. However, there is an additional process to screen out carbon intensive companies that do not or will not play a major role in our energy transition.
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 performance target 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 Global Sector.
At the heart of Global Alpha’s patient approach to long-term capital growth lies our belief in diversity. We don’t rely on a single definition of what ‘growth’ means.
Performance & Portfolio
Periodic performance
All figures to 28/02/2025 6 Months
1 Year
3 Years
Since Inception
Class B-Acc 7.5% 10.4% 6.7% 0.4% Index* 8.8% 16.1% 12.0% 10.2% Target Benchmark** 9.9% 18.5% 14.3% 12.5% Sector Average*** 5.3% 9.5% 8.0% 6.0% Sector Ranking 172/549 277/542 324/484 401/451 Figures for 3 years and Since Inception are shown as the annualised rate of return. This is the average yearly return over the specified period.
Annual discrete performance 31 December each year
Annual percentage return (Updated Quarterly) 31/12/2019
31/12/202031/12/2020
31/12/202131/12/2021
31/12/202231/12/2022
31/12/202331/12/2023
31/12/2024Class B-Acc n/a n/a -22.5% 11.7% 14.3% Index* n/a n/a -7.6% 15.9% 20.1% Target Benchmark** n/a n/a -5.8% 18.2% 22.6% Sector Average*** n/a n/a -11.1% 12.7% 12.6% Please bear in mind that past performance is not a guide to future returns. 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, MSCI. Total return net of charges, in sterling.
Share class returns calculated using 10am prices, while the Index is calculated close-to-close.
Share class inception date 15 April 2021
*MSCI ACWI Index.
**MSCI ACWI Index, as stated in sterling, by at least 2% per annum over rolling five-year periods.
***IA Global Sector.
Top ten holdings 28/02/2025
Fund % 1 Meta Platforms 4.9% 2 Amazon.com 4.6% 3 Microsoft 4.3% 4 NVIDIA 4.2% 5 Prosus 3.4% 6 DoorDash 3.4% 7 TSMC 2.9% 8 Mastercard 2.6% 9 Elevance Health Inc. 2.6% 10 Service Corporation International 2.4% Total 35.3% Geographic analysis of total assets 28/02/2025Fund %
- 1 United States 63.03
- 2 Netherlands 5.87
- 3 Japan 4.13
- 4 China 3.94
- 5 Canada 3.20
- 6 Sweden 2.94
- 7 Taiwan 2.90
- 8 Ireland 2.23
- 9 Brazil 2.07
- 10 Others 9.58
- 11 Cash 0.10
- Total 100.00
Sector analysis of total assets 28/02/2025Fund %
- 1 Consumer Discretionary 25.80
- 2 Information Technology 21.64
- 3 Financials 13.48
- 4 Communication Services 12.38
- 5 Industrials 10.35
- 6 Health Care 10.22
- 7 Materials 3.48
- 8 Real Estate 1.88
- 9 Consumer Staples 0.67
- 10 Cash 0.10
- Total 100.00
As the Fund invests in overseas securities, changes in the rates of exchange may cause the value of your investment (and any income it may pay) to go down or up.
As well as cash in the bank, this balance includes unsettled cash flows arising from both shareholder flows and outstanding trades. Therefore, a negative balance may arise from timing differences between shareholder flows and security trading, and does not necessarily represent a bank overdraft.
The information contained on this page is intended as a guide only and should not be relied upon when making investment decisions. Source Baillie Gifford & Co.
Please note that totals may not add due to rounding.
Insights
View all Insights.Meet the Managers
Malcolm MacColl
Malcolm is an investment manager in the Global Alpha Team. He has been involved in Global Alpha since the product’s inception in 2005 and this is his sole portfolio responsibility. He joined Baillie Gifford in 1999 and became a partner of the firm in 2011. In 2021 he became a managing partner with overall oversight for the investment department. Malcolm previously worked in the UK Small Cap and North American equity teams. He managed the North American portion of wider global portfolios while in the North American Equity Team. Malcolm graduated MA in Economics and History in 1998 and MLitt in Economics, Politics and Management in 1999, both from the University of St Andrews.
Spencer Adair
Spencer is an investment manager in the Global Alpha Team. He has been an investment manager in the Global Alpha Team since its inception in 2005 and Monks Investment Trust since 2015. Spencer is a co-manager of International Concentrated Growth Strategy. He joined Baillie Gifford in 2000 and became a partner in 2013. Spencer has also spent time working in the Fixed Income, Japanese, European, Emerging Markets and UK Equities teams. He graduated BSc in Medicine from the University of St Andrews in 1997.
Helen Xiong
Helen is an investment manager in the Global Alpha Team. She joined Baillie Gifford in 2008 and became a partner in 2020. In addition to Global Alpha, Helen has spent time working in our Developed Asia, UK, US Equity Growth, and Emerging Markets Equity teams. She graduated BSc (Hons) in Economics from the University of Warwick in 2007 and MPhil in Economics from the University of Cambridge in 2008.
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.
Key investor information documents (KIIDs)
Philosophy and process documents
Sustainability-related disclosures and climate reports
Sustainability disclosure requirements (SDR)
Risks
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.
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.
Emerging Markets
The Fund invests in emerging markets where difficulties in dealing, settlement and custody could arise, resulting in a negative impact on the value of your investment.
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.
Carbon Screens
The Fund employs carbon screens which means it cannot invest in certain companies. The universe of available investments will be more limited than other funds that do not apply such criteria/exclusions, therefore the Fund may have different returns than a fund which has no such restrictions.
Important Information
Baillie Gifford Overseas Limited is wholly owned by Baillie Gifford & Co. Baillie Gifford Overseas Limited provides investment management and advisory services to non-UK clients. Both are authorised and regulated by the Financial Conduct Authority.
The information provided does not constitute an offer of or solicitation for purchase or sale of securities or provision of any investment services. Any general enquiries regarding Baillie Gifford should be directed to the relevant individual as noted in the Contact Us section.
The information contained in this website has been compiled with considerable care to ensure its accuracy at the date of publication. However, no representation or warranty, express or implied, is made to its accuracy or completeness. Nothing in this information or elsewhere in this website shall exclude, limit or restrict our duties and liabilities to you under the United Kingdom's Financial Services and Markets Act 2000 or any conduct of business rules which we are bound to comply with.
This website is informative only and the information provided should not be considered as investment advice or a recommendation to buy, sell or hold a particular investment. You can read details of our Legal and Important Information here.
You need to be an existing investor of this fund before you can view its details.
If you are not an existing investor of this fund, please close this message and you'll be directed to our list of funds.