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Investment strategy

Islamic Global Equities

Successful active management of a Sharia-compliant equities portfolio is not easy. It requires dedication and a long-term perspective.

Rather than hindering efforts, we believe Sharia principles help us identify exceptional growth opportunities. This is because superior returns and making a difference for society are often mutually reinforcing goals.

Our dedicated team harness the benefits of scale, drawing on insights from the entire Baillie Gifford investment floor. Thoughtful engagement with Islamic scholars is also integral to our differentiated approach.

 

A dark night with a brightly lit Mosque surrounded by water

Only a handful of companies truly matter

Islamic Global Equities offers investors an opportunity to invest in some of the world’s best growth companies. The strategy is committed to being different from the index and seeks companies that are pioneering and entrepreneurial in their respective fields while being fully Sharia-compliant.

Islamic Global Equities Strategy

Investment manager, Tolibjon Tursunov, discusses the Baillie Gifford Islamic Global Equities Strategy.

Active Investing guided by Islamic Principles

We aim to identify companies that can grow their earnings at a superior rate to the market over sustained periods, with potential that is not reflected in their current price. This underpins our objective to deliver returns of 2% plus ahead of the benchmark over rolling five-year periods, net of fees.

Our objective extends beyond attractive investment returns. We actively engage with Islamic scholars to deepen our understanding of emerging issues and share our investor perspectives in order to expand the investible universe. We hope this dialogue benefits not only our clients but also the wider Islamic investment community.

The performance target is aspirational and is not guaranteed. We don’t use it to compile the portfolio and returns will vary. A single performance target may not be appropriate across all vehicles and jurisdictions. We may not meet our investment objectives if, for example, our growth investment style is out of favour or we misjudge the long-term earnings growth of our holdings.

A genuinely active and diversified Shariah-compliant portfolio

We embrace the diversity of growth available to us. Our bottom-up, active investment approach results in a differentiated global equity portfolio holding 30 to 50 stocks, which invests in some of the world’s highest-quality growth companies.

Importantly, Islamic principles are considered at every step of the investment research and company monitoring process. This is complemented with input from the Shariyah Review Bureau (SRB) to ensure full compliance and a consistent application of standards and interpretation of the rules.

There is no doubt in my mind that applying Islamic principles is a help not a hinderance in generating strong investment returns.
Tolibjon Tursunov

Meet the team

Documents

Philosophy and process

Explore our investment philosophy and the processes around how the team constructs the portfolio.

Sharia Certificate

Sharia Certificate confirming the Baillie Gifford Worldwide Islamic Global Equities Fund is compliant with Shari’a Standards issued by the Shari’a Supervisory Board.

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Strategy portfolio holdings

A list of the top 10 holdings that the representative portfolio invests in.

All figures up to: 31 December 2024

#Holding% of portfolio
1Microsoft7.8%
2Amazon.com7.6%
3Alphabet7.4%
4Shopify6.3%
5NVIDIA3.5%
6Roche2.8%
7Analog Devices2.8%
8Recruit Holdings2.8%
9Novo Nordisk2.6%
10Teradyne2.5%

Strategy holding by region

As at: 31 December 2024

1North America56.80%
2Europe (ex UK)22.40%
3Developed Asia Pacific9.00%
4Emerging Markets6.80%
5UK1.80%
6Cash3.20%
Total 100%

Strategy holding by region

All figures up to: 31 December 2024

Total: 100%

Strategy holdings by country

As at: 31 December 2024

1United States50.50%
2Japan6.80%
3France6.40%
4Canada6.30%
5Switzerland4.20%
6Germany3.30%
7Denmark3.20%
8India2.50%
9Sweden2.40%
10New Zealand2.20%
11Taiwan2.20%
12Others6.80%
13Cash3.20%
Total 100%

Strategy holdings by country

All figures up to: 31 December 2024

Total: 100%

Strategy holdings by sector

As at: 31 December 2024

1Information Technology38.40%
2Health Care17.50%
3Consumer Discretionary15.40%
4Industrials11.40%
5Communication Services9.50%
6Energy2.50%
7Materials2.20%
8Cash3.20%
Total 100%

Strategy holdings by sector

All figures up to: 31 December 2024

Total: 100%

Please note

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.

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Insights

Key articles, videos and podcasts relating to the strategy:

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You can invest in this strategy through the following fund(s).

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Curious to learn more about our products and what we can offer you? Please get in touch.

How to invest in this strategy

You can invest in this strategy through the following fund(s).

Explore further

Curious to learn more about our products and what we can offer you? Please get in touch.