Overview
The UK Equity Alpha Fund aims to outperform (after deduction of costs) the FTSE All-Share Index by at least 2% 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 UK All Companies Sector.
Performance & Portfolio
Performance & Portfolio
Periodic Performance
All figures to 30/11/2024 6 Months
1 Year
3 Years
5 Years
Class B-Acc 4.0% 17.2% -3.0% -1.3% Index* 1.9% 15.7% 7.9% 5.7% Target Benchmark** 2.9% 18.1% 10.1% 7.9% 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 6.4% 6.0% -31.9% 14.3% 8.9% Index* -16.6% 27.9% -4.0% 13.8% 13.4% Target Benchmark** -14.9% 30.4% -2.1% 16.1% 15.7% Sector Average*** -12.8% 32.4% -15.3% 12.8% 14.2% 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, FTSE. Total return net of charges, in sterling.
Share class returns calculated using 10am prices, while the Index is calculated close-to-close.
*FTSE All-Share Index.
**FTSE All-Share Index plus at least 2% per annum over rolling five-year periods.
***IA UK All Companies Sector.Top Ten Holdings - 30/11/2024
Fund % 1 Games Workshop 9.8% 2 Experian 7.5% 3 Auto Trader 7.4% 4 4imprint 6.3% 5 Wise 5.0% 6 AJ Bell 4.7% 7 Ashtead 4.0% 8 Moonpig Group 3.5% 9 Softcat 3.1% 10 Kainos 2.9% Total 54.0% SECTOR ANALYSIS OF TOTAL ASSETS - 30/11/2024Fund %
- 1 Software and Computer Services 18.07
- 2 Industrial Support Services 13.41
- 3 Leisure Goods 9.77
- 4 Investment Banking and Brokerage Services 8.47
- 5 Media 6.28
- 6 Retailers 6.13
- 7 Industrial Engineering 5.27
- 8 Pharmaceuticals and Biotechnology 5.20
- 9 Industrial Transportation 4.04
- 10 Electronic and Electrical Equipment 3.88
- 11 Beverages 3.14
- 12 Travel and Leisure 2.78
- 13 Real Estate Investment and Services 2.70
- 14 Banks 2.45
- 15 Others 7.30
- 16 Cash 1.08
- Total 100.00
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
View all Insights.Meet the Managers
Milena Mileva
Milena is an investment manager in the UK Equity Team and lead manager of the UK Alpha Strategy. She is a member of the International All Cap Portfolio Construction Group. She joined Baillie Gifford in 2009 and became a partner of the firm in 2022.Milena graduated BA in Social and Political Science from the University of Cambridge in 2007 and MPhil in Politics from the University of Oxford in 2009.
Fund Platforms
You can invest in a range of our funds via a number of fund platforms, please see the links opposite.
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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.
Application forms
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
Implementation statement
Sustainability disclosure requirements (SDR)
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 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.
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.
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.
