Overview
The Worldwide Positive Change Fund aims to produce capital growth over the long term by investing primarily in the equities of companies whose products, behaviour or services make a positive social impact. The Fund may also invest in other transferable securities, money market instruments, cash and cash equivalents.
Performance & Portfolio
Data is not currently available for this share class.Top Ten Holdings - 31/10/2024
Fund % 1 MercadoLibre 7.9% 2 TSMC 7.8% 3 Shopify 5.4% 4 Autodesk 4.9% 5 Alnylam Pharmaceuticals 4.8% 6 ASML 4.8% 7 HDFC Bank 4.8% 8 Duolingo 4.8% 9 Bank Rakyat Indonesia 4.7% 10 Nu Holdings 4.2% Total 54.1% Geographic Analysis of Total Assets 31/10/2024Fund %
- 1 North America 51.77
- 2 Emerging Markets 32.19
- 3 Europe (ex UK) 13.97
- 4 UK 0.98
- 5 Cash 1.09
- 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.
The information contained on this page is intended as a guide only and should not be relied upon when making investment decisions. All holdings information is unaudited. Source Baillie Gifford & Co.
Please note that totals may not add due to rounding.Insights
Key Decision Makers
Kate Fox
Kate is an investment manager and decision maker in the Positive Change Team. Kate joined Baillie Gifford in 2002 and became a partner of the firm in 2020. She is a CFA Charterholder and graduated MA in Economics and Maths from the University of Edinburgh in 2001.
Kate believes the financial community plays a crucial role in creating a more sustainable world for future generations. Kate’s experience analysing smaller companies has left her with a natural enthusiasm for businesses that address unmet needs or challenge the status quo, as well as an appreciation of their long-term potential.
Lee Qian
Lee is an investment manager and decision maker in the Positive Change Team. He joined Baillie Gifford in 2012 and has previously worked as an analyst on the Developed Asia, International Growth, Global Income Growth and International Alpha strategies. Lee is a CFA Charterholder and graduated BA (Hons) in Economics and Management from the University of Oxford in 2012.
Lee grew up in China during a period of incredible economic and social progress, when hundreds of millions of people were lifted out of poverty and the standard of living improved for the majority of the population. Witnessing that has influenced Lee deeply and he has been interested in development since.Ed Whitten
Ed is an impact director and decision maker in the Positive Change Team. He joined Baillie Gifford in 2018. Prior to joining Baillie Gifford, Ed worked for three years in a consultancy advising investors, insurers and corporates on risk management and social impact in emerging and frontier markets. Ed started his career as an officer in the British Army, latterly working in a cross-government role on the UK government. Ed graduated BA (Hons) in History from Newcastle University in 2008 and MSc in Sustainable Development from London’s School of Oriental and African Studies in 2020.
Ed’s experience of working in and studying developing countries drives his desire to work towards a more sustainable future that leaves no one behind. Ed believes that thoughtful and responsible investment in companies achieving financial, social and environmental returns has enormous potential to catalyse positive change in the corporate landscape, build trust in capital markets and help support solutions to global challenges.
Thaiha Nguyen
Thaiha is an investment manager and decision maker in the Positive Change Team. She joined Baillie Gifford in 2014 and moved full-time to Positive Change in 2021 after two years of working with the team as a portfolio advisor from our US Equities team. She is a CFA Charterholder and graduated BA (Hons) in Economics from the University of Cambridge in 2014.
Thaiha believes that we are entering the golden age of technological innovations and impact entrepreneurship. The combination of the two will be a powerful driver of a thriving, sustainable and inclusive world. In her view, investors could play a critical role to support ambitious entrepreneurs that leverage technologies to bring creative solutions to global challenges.Apricot Wilson
Apricot is a senior impact analyst and decision maker in the Positive Change Team. She joined Baillie Gifford in 2023. Prior to working at Baillie Gifford, Apricot completed the graduate training programme at Aberdeen Asset Management, before working for Investing for Development SICAV, a Luxembourg-based blended fund focused on development finance. Apricot is a CFA Charterholder and graduated MBA from the China Europe International Business School in Shanghai. Her first degree was in Modern and Medieval Languages from the University of Cambridge.
Having worked in development, Apricot has been impressed by the power of financial markets to generate positive societal change. She has a particular interest in opportunities which support those living at the base of the economic pyramid.
How To Invest
For further information on the funds, including availability and investment options, please contact our local distributor Shinyoung Securities Co. Ltd.Qualified Professional Investor EnquiriesKi-sun Kim (Shinyoung Securities)Telephone: +822 2004 9704Email: fab@shinyoung.comProfessional Investor Enquiries
For further information on the funds, including availability and investment options, please contact our local distributor Volcom Capital.
Professional Investor Enquiries
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.
Annual reports
Application forms
Factsheets
Impact report and positive conversations
Important disclosures
Interim reports
MIFID II ex-ante disclosures
Other fund literature
Philosophy and process documents
Prospectus
Quarterly investor reports
Sustainability-related disclosures and climate reports
PRIIPs key information document
PRIIPs performance disclosures
Further Information
COMPLAINTS CONTACT DETAILS
In the first instance, clients should contact their normal Client Contact with any concerns. Alternatively, or for those clients who do not have a direct client contact assigned, complaints can be emailed to Baillie Gifford’s Compliance Department at: InstitutionalComplaints@bailliegifford.com. A summary document which contains details on Baillie Gifford’s complaints management policy is available upon request. All material complaints are recorded in an in-house incident management system and are escalated to, and dealt with by, members of staff of suitable seniority, independent of the area from which the matter arose.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.
The specific risks associated with the Fund include:
Impact
There is no universally accepted definition of impact. Furthermore, there is a risk that individual investments fail to make a positive contribution to society and/ or the environment, and that overall the Fund fails to meet its objective.
Custody
Custody of assets, particularly in emerging markets, involves a risk of loss if a custodian becomes insolvent or breaches duties of care.
Emerging Markets
The Fund invests in emerging markets where difficulties in trading could arise, resulting in a negative impact on the value of your investment.
Concentration
The Fund’s concentrated portfolio relative to similar funds and in a particular geographical area or industry 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.
Environmental, Social and Governance (ESG)
The Fund invests in companies whose products or behaviour make a positive impact on society and/or the environment. This means the Fund will not invest in certain sectors and companies and the universe of investments available to the Fund will be more limited than other funds that do not apply such criteria. The Fund therefore may have different returns than a fund which has no such restrictions. Data used to apply the criteria may be provided by third party sources and is based on backward-looking analysis and the subjective nature of non-financial criteria means a wide variety of outcomes are possible. There is a risk that data provided may not adequately address the underlying detail around material non-financial considerations.
Please consider all of the characteristics and objectives of the fund as described in the Key Information Document (KID) and prospectus before making a decision to invest in the Fund. For more information on how sustainability issues, such as climate change are considered, see bailliegifford.com.
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.
Further Details
Further details of the risks associated with investing in the Fund can be found in the Key Information Document (KID), or the Prospectus. Copies of both the KID and Prospectus are available at bailliegifford.com.
Definitions
Active Share: A measure of the Fund's overlap with the benchmark. An active share of 100 indicates no overlap with the benchmark and an active share of zero indicates a portfolio that tracks the benchmark.
Important Information
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