- UK
Institutional investor
Overview
The Worldwide Discovery Fund aims to produce attractive long-term returns, mainly through capital growth. The Fund will invest primarily in equities which are listed, traded or dealt in on Regulated Markets worldwide and which will typically be stocks of smaller or younger companies that the Investment Manager considers to have strong future growth prospects.
Performance & Portfolio
Select currencyCumulative PerformanceRebased to 100 at the start date of this chart.
A Acc EUR share class launched on 06 September 2017.
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.
Baillie Gifford operates a single swinging price for the Fund and, therefore, may apply a dilution adjustment to the price to protect long-term investors from the costs associated with buying and selling underlying investments that result from other investors joining or leaving the Fund. This adjustment will affect relative performance, either positively or negatively.
Share class performance converted to chosen currency.
Source: Baillie Gifford & Co, BBH, Revolution, relevant underlying index provider.
Top Ten Holdings - 28/02/2025
Fund % 1 Alnylam Pharmaceuticals 7.6% 2 Axon Enterprise 6.4% 3 Zillow 4.1% 4 AeroVironment 4.0% 5 CyberArk 3.5% 6 Doximity 3.2% 7 Oxford Nanopore Tech 2.8% 8 Upwork 2.8% 9 MercadoLibre 2.8% 10 MarketAxess 2.5% Total 39.7% Geographic analysis of total assets 28/02/2025Fund %
- 1 North America 66.76
- 2 Emerging Markets 19.00
- 3 UK 8.10
- 4 Developed Asia Pacific 3.23
- 5 Europe (ex UK) 2.42
- 6 Cash 0.49
- Total 100.00
Country analysis of total assets 28/02/2025Fund %
- 1 United States 66.76
- 2 UK 8.10
- 3 Israel 6.52
- 4 China 5.60
- 5 Brazil 4.10
- 6 Japan 3.23
- 7 Others 5.19
- 8 Cash 0.49
- Total 100.00
Sector analysis of total assets 28/02/2025Fund %
- 1 Health Care 34.37
- 2 Information Technology 27.24
- 3 Industrials 20.10
- 4 Financials 5.20
- 5 Consumer Discretionary 4.62
- 6 Real Estate 4.11
- 7 Consumer Staples 1.68
- 8 Materials 1.39
- 9 Communication Services 0.80
- 10 Cash 0.49
- Total 100.00
Totals may not sum due to rounding.
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.
Managers
Douglas Brodie
Douglas is head of the Discovery Team and has led the strategy since its inception. He is a member of the Discovery Portfolio Construction Groups and also a co-manager of the Edinburgh Worldwide Investment Trust. He joined Baillie Gifford in 2001 and became a partner in 2015. He graduated with a BSc in Molecular Biology and Biochemistry from the University of Durham in 1997 and attained a DPhil in Molecular Immunology from the University of Oxford in 2001.
Svetlana Viteva
Svetlana is an investment manager in the Discovery Team. She is a member of the Discovery Portfolio Construction Groups and a co-manager of the Edinburgh Worldwide Investment Trust. She joined Baillie Gifford in 2012. She graduated with a BA in Economics and Business Administration from the American University in Bulgaria in 2008, an MSc in Investment Analysis in 2009 and a PhD in Accounting and Finance in 2012, both from the University of Stirling. She is a CFA Charterholder.
John MacDougall
John is an investment manager and decision maker in the Long Term Global Growth Team. He is also a member of the Discovery Portfolio Construction Group (PCG). John joined Baillie Gifford in 2000 and became a partner of the firm in 2016. Prior to his current roles, he worked in the North American, Japan and Global Discovery teams. John graduated MA in Ancient & Modern History from the University of Oxford in 2000 and is a CFA Charterholder.
Bill Chater
Bill is an investment specialist who is dedicated to our Discovery Strategy. He is a member of the Discovery Portfolio Construction Groups and chairs the Discovery Product Group. Before joining Baillie Gifford in 2018, Bill studied for a full-time MBA, specialising in Finance, at the University of Edinburgh Business School. Previously, he spent five years at MasterCard as a corporate account manager for financial institutions. Bill graduated with an MA in History from the University of Edinburgh in 2012.
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
Corporate governance
Important disclosures
Interim reports
Investor tax reporting
Key investor information documents (KIIDs)
Other fund literature
Philosophy and process documents
Prospectus
Quarterly investor reports
Sustainability-related disclosures and climate reports
Further Information
BAILLIE GIFFORD INVESTMENT MANAGEMENT (EUROPE) LIMITED: REGISTERED OFFICE
Baillie Gifford Investment Management (Europe) Limited is authorised and regulated by the Central Bank of Ireland (No. C182354). Registered office: 4/5 School House Lane East, Dublin 2, D02 N279. Registered in Ireland (No. 625892).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:
Market Conditions
Any value assigned to illiquid securities which are difficult to trade, such as those in smaller, immature companies, may not accurately reflect the price the Fund might receive upon their sale.
Custody
Custody of assets involves a risk of loss if a custodian becomes insolvent or breaches duties of care.
Smaller, Immature Companies
Investment in smaller, immature companies is generally considered higher risk as the market for their shares may be less liquid and more difficult to trade than that for more established companies. As a result, share price fluctuations may be greater. In addition, smaller, immature companies may not do so well in periods of adverse economic conditions. Where such companies have business models and competitive positions which are less well established, this could result in an increased likelihood of loss for investors.
Concentration
The Fund’s concentration 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 a foreign currency and changes in the rate 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's approach to Environmental, Social and Governance (ESG) means it cannot invest in certain sectors and 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. 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.
