Currently closed to new investors
Termination of the Health Innovation Fund will commence on 13 November 2024. Please see the letter to shareholders. For further details please contact us on 0800 917 2113. Telephone calls may be recorded.
Overview
The Health Innovation Fund aims to outperform (after deduction of costs) the MSCI ACWI Health Care Index, as stated in sterling, by at least 2.5% per annum over a rolling five-year period by investing primarily in a global equity portfolio selected from companies engaged in the health care industry. 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 Healthcare Sector.
Performance & Portfolio
Periodic Performance
All figures to 30/09/2024 6 Months
1 Year
3 Years
Since Inception
Class B-Acc -5.9% -1.6% -19.1% -13.7% Index* -1.5% 14.6% 7.0% 9.0% Target Benchmark** -0.3% 17.4% 9.7% 11.7% 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 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 n/a n/a -32.7% -20.1% -1.6% Index* n/a n/a -3.7% 11.0% 14.6% Target Benchmark** n/a n/a -1.3% 13.8% 17.5% Sector Average*** n/a n/a -1.4% -5.0% 9.4% 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, MSCI. Total return net of charges, in sterling.
Share class returns calculated using 10am prices, while the Index is calculated close-to-close.
†15 December 2020*MSCI ACWI Health Care Index from 31/08/24. Previously MSCI ACWI Index.
**MSCI ACWI Health Care Index + 2.5% (in Sterling) over rolling five-year periods from 31/08/24; previously MSCI ACWI + 2.5% (in Sterling). These have been chain-linked for performance figures above.
***IA Healthcare Sector.
Top Ten Holdings - 30/09/2024
Fund % 1 argenx 7.6% 2 Alnylam Pharmaceuticals 7.1% 3 ALK-Abello 5.6% 4 Ambu 5.1% 5 Genmab 4.4% 6 Insulet Corporation 4.2% 7 Exact Sciences 4.1% 8 ResMed 3.9% 9 Moderna 3.7% 10 Doximity 3.6% Total 49.2% Insights
View all Insights.Meet the Managers
Julia Angeles
Julia has been a member of the International Growth Portfolio Construction Group since 2017 and she is a portfolio manager in the Health Innovation Strategy, which she co-founded in 2018. Julia joined Baillie Gifford in 2008 and became a partner in 2022. Julia previously worked as a management consultant at McKinsey & Company, advising firms in Denmark, Russia and Hungary. She obtained a BSc in 1999, an MSc in 2001 and a PhD in 2005 in Economics from the University of Aarhus, Denmark. She is fluent in Russian and Danish.
Marina Record
Marina joined Baillie Gifford in 2008 and is an investment manager in the Health Innovation Team. She worked in a number of global teams before joining Long Term Global Growth, where she focused on analysing companies with the potential for sustained rapid growth. It was here that Marina developed an interest in healthcare, intrigued by the accelerating pace of progress in the field. She joined the Health Innovation Team in January 2018 as an investment manager, to fully focus her attention on exploring the potential consequences of such progress and how Baillie Gifford can help. Marina graduated from the London School of Economics and the Higher School of Economics in Russia with BSc degrees in Banking and Finance and in Economics, having studied on these programmes simultaneously.
Rose Nguyen
Rose joined Baillie Gifford in 2013 and is an investment manager in the Health Innovation Team. Rose worked on various regional and global strategies before joining the Health Innovation Team as an investment manager. Having observed the innovations in multiple industries, she believes that the great convergence of different technologies and sciences will ultimately transform life science. Biology can move from alchemy and randomness to become a more predictable, deterministic and repeatable science, that will give rise to a plethora of exciting investment opportunities. She joined the Health Innovation Team in September 2018 at the inception of the strategy. Rose graduated BA (Hons) in Economics and MPhil in Finance and Economics from the University of Cambridge in 2012 and 2013 respectively.
Fund Platforms
You can invest in a range of our funds via a number of fund platforms, please see the links opposite.
Baillie Gifford does not sponsor, maintain or have any control over the content of any other websites.
Therefore, we are not responsible for the adequacy or accuracy of any of the information you may view, nor do we undertake to ensure successful transmission to any linked website.
Fund Platforms
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
Factsheets
Key investor information documents (KIIDs)
Other fund literature
Quarterly investor reports
Shareholders rights directive
Sustainability-related disclosures and climate reports
Value assessment
Complaints
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.
