Overview
Share price and charges
Share class
KTicker
BGGKXNAV
26.83% change
2.21%Management fee
0.50%Other expenses
0.50%Gross expense ratio
1.00%Fee waiver
-0.35%Net expense ratio
0.65%Fund facts
Fund launch date
December 5, 2016
Fund size
$23.1m
Benchmark
S&P 500 Index
Current number of holdings
47
Active share
86%*
Annual turnover
19%
Style
Growth
Guideline number of holdings
30-50
*Relative to S&P 500 Index.
Source: Baillie Gifford & Co and relevant underlying index provider(s).
Launch date refers to the longest running share class of the fund. This is earlier than the K and Institutional share class launch date.
Portfolio characteristics
The fund's characteristics compared to the index.
As at October 31, 2024
Fund | S&P 500 Index | |
---|---|---|
Market cap (weighted average) | $479.72bn | $993.08bn |
Price / Book | 9.14 | 5.26 |
Price / Earnings (12 months forward) | 41.34 | 20.94 |
Earnings growth (5 year historic) | 30.26% | 8.90% |
Return on equity (12 months forward) | 10.09% | 24.98% |
Standard deviation (trailing 3 years) | 32.58% | 19.73% |
Beta | 1.71 | N/A |
Source: Baillie Gifford & Co, FactSet, Revolution, and relevant underlying index provider(s).
Beta is in comparison to S&P 500 Index.
A full glossary of definitions can be viewed at the bottom of this page.
Meet the managers
Risks
The most significant risks of an investment in the Baillie Gifford US Equity Growth Fund are Investment Style Risk, Growth Stock Risk, Long-Term Investment Strategy Risk, Geographic Focus Risk and Non-Diversification Risk. The Fund is managed on a bottom up basis and stock selection is likely to be the main driver of investment returns. Returns are unlikely to track the movements of the benchmark. The prices of growth stocks can be based largely on expectations of future earnings and can decline significantly in reaction to negative news. The Fund is managed on a long-term outlook, meaning that the Fund managers look for investments that they think will make returns over a number of years, rather than over shorter time periods. The Fund focuses on investments in the US, meaning it may offer less diversification and be more volatile than other funds. The Fund may have a smaller number of holdings with larger positions in each relative to other mutual funds. Other Fund risks include: Conflicts of Interest Risk, Equity Securities Risk, Environmental, Social and Governance Risk, Focused Investment Risk, Government and Regulatory Risk, Information Technology Risk, Initial Public Offering Risk, Large-Capitalization Securities Risk, Liquidity Risk, Market Disruption and Geopolitical Risk, Market Risk, New and Smaller-Sized Funds Risk, Service Provider Risk, Small-and Medium-Capitalization Securities Risk and Valuation Risk.
Index disclaimer
London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2020. FTSE Russell is a trading name of certain of the LSE Group companies. Russell® is/are a trade mark(s) of the relevant LSE Group companies and is/are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.”
The Baillie Gifford Mutual Funds are distributed by Baillie Gifford Funds Services LLC. Investors should carefully consider the objectives, risks, charges and expenses of the Funds before investing. This information and other information about the Funds can be found in the prospectus and the summary prospectus. For a prospectus and summary prospectus please go to the Documents section on this page. Please carefully read the Fund’s prospectus and related documents before investing.
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.
Annual turnover
Turnover is calculated as the smaller figure of either purchases or sales for the month and dividing it by an average fund market value. Annual Turnover is calculated as the sum of the monthly turnover figures for the 12 month period.
Market cap (weighted average)
The weighted average size of companies represented in the portfolio, denoted by market capitalization.
Price/Book
The weighted average ratio of current share price to last reported company book value per share. This represents a measure of valuation levels.
Price/Earnings (12 months forward)
The weighted average ratio of current share price divided by the 12 month forward earnings per share. This represents a measure of valuation levels.
Earnings growth (5 years historic)
The weighted average growth in earnings per share of current portfolio holdings delivered over the past 5 years, expressed in % per annum. This represents a measure of delivered profits growth for the current holdings in the portfolio or benchmark.
Return on equity (12 months forward)
The weighted average ratio of 12 month forward earnings per share divided by the last reported book value per share. This represents a forward-looking measure of profitability, based on the current holdings of the portfolio or benchmark.
Beta
Beta is a measure of systematic risk, denoting the sensitivity of a fund to the direction of the market. Measures of beta that are significantly higher (lower) than 1.0 indicate a greater (lesser) degree of sensitivity to market direction.
Standard deviation
A measure of the volatility of absolute returns. It is a measure of the dispersion of a set of absolute returns from its mean.
Fund performance
Annualized total returns – as at month end
As at: October 31, 2024
Gross expense ratio | Net expense ratio | 1 month* | 3 months* | Year-to-date* | 1 year | 3 years | 5 years | Since inception† | |
---|---|---|---|---|---|---|---|---|---|
Share class K | 1.00% | 0.65% | 0.38% | 10.39% | 18.41% | 53.53% | -13.01% | 12.82% | 15.60% |
S&P 500 Index | n/a | n/a | -0.91% | 3.66% | 20.97% | 38.02% | 9.06% | 15.25% | 14.75% |
Russell 1000 Growth Index | n/a | n/a | -0.33% | 4.63% | 24.14% | 43.77% | 8.82% | 18.98% | 18.90% |
Annualized total returns – as at quarter end
As at: September 30, 2024
Gross expense ratio | Net expense ratio | 1 year | 3 years | 5 years | Since inception† | |
---|---|---|---|---|---|---|
Share class K | 1.00% | 0.65% | 39.63% | -11.29% | 13.50% | 15.73% |
S&P 500 Index | n/a | n/a | 36.35% | 11.90% | 15.96% | 15.06% |
Russell 1000 Growth Index | n/a | n/a | 42.19% | 12.01% | 19.72% | 19.17% |
Stock level attribution
Top and bottom 5 relative contributors
One month to: October 31, 2024
Holding | Contribution |
---|---|
The Trade Desk | 0.88% |
Doordash Inc | 0.52% |
Roblox | 0.34% |
Netflix Inc | 0.33% |
Microsoft | 0.31% |
Moderna Inc | -0.39% |
Wayfair Inc | -0.31% |
Tempus Ai Inc | -0.30% |
Aurora Innovation Class A Common | -0.17% |
Roku | -0.16% |
Fund portfolio holdings
The list of top 10 holdings that this fund invests in.
As at: October 31, 2024
# | Holding | % of portfolio |
---|---|---|
1 | The Trade Desk | 9.04 |
2 | Amazon.com | 7.54 |
3 | Meta Platforms | 5.93 |
4 | Shopify | 5.58 |
5 | NVIDIA | 5.37 |
6 | Netflix | 5.32 |
7 | DoorDash | 5.31 |
8 | Tesla Inc | 4.59 |
9 | Cloudflare | 3.45 |
10 | Duolingo | 3.29 |
Holdings by sector
As at: October 31, 2024
# | Sector | Fund % | Benchmark % * | Difference % |
---|---|---|---|---|
1 | Consumer Discretionary | 27.53% | 10.03% | 17.49% |
2 | Communication Services | 25.47% | 9.11% | 16.36% |
3 | Information Technology | 23.48% | 31.68% | -8.20% |
4 | Health Care | 12.68% | 11.16% | 1.51% |
5 | Financials | 3.83% | 13.37% | -9.54% |
6 | Real Estate | 2.61% | 2.28% | 0.33% |
7 | Industrials | 2.35% | 8.52% | -6.17% |
8 | Cash | 1.45% | 0.00% | 1.45% |
9 | Consumer Staples | 0.55% | 5.77% | -5.22% |
10 | Materials | 0.05% | 2.17% | -2.13% |
11 | Utilities | 0.00% | 2.53% | -2.53% |
12 | Energy | 0.00% | 3.37% | -3.37% |
Total | 100.00% | 100.00% |
Holdings by region
As at: October 31, 2024
# | Region | Fund % | Benchmark % * | Difference % |
---|---|---|---|---|
1 | North America | 98.55% | 100.00% | -1.45% |
2 | Cash | 1.45% | 0.00% | 1.45% |
Total | 100.00% | 100.00% |
Holdings by country
As at: October 31, 2024
# | Country | Fund % | Benchmark % * | Difference % |
---|---|---|---|---|
1 | United States | 92.97% | 100.00% | -7.03% |
2 | Canada | 5.58% | 0.00% | 5.58% |
3 | Cash | 1.45% | 0.00% | 1.45% |
Total | 100.00% | 100.00% |
Quarterly transactions
Transactions for the three-month period ending 30 September 2024
New purchases
- Lineage Inc
- SharkNinja
- The Ensign Group
Complete sales
- 10X Genomics Inc Class A
Additions
- Alnylam Pharmaceuticals
- Aurora Innovation Class A Common
- Block Inc
- Doordash Inc
- Moderna Inc
- Rivian Automotive Inc
- Tempus Ai Inc
Reductions
- NVIDIA
Tax and distributions
The Fund intends to pay dividends to its shareholders at least annually. Distributions will automatically be reinvested in Fund shares unless you submit a request for cash payment with at least ten days prior notice, before the record date for distribution, to the Transfer Agent. The distribution dates will appear on this page alongside the rates once they become available. The dates can be changed by the Officers of the Funds. For more information on Baillie Gifford Funds’ Distributions please see the Statutory Prospectus.
You can find answers to some of our most common questions about tax and distribution for mutual funds in our frequently asked questions document.
Recent distributions
The below table shows the makeup of the most recent distributions paid.
Share class Institutional | Share class K | |
---|---|---|
Income dividends | 0.00000 | 0.00000 |
Short-term capital gains * | 0.00000 | 0.00000 |
Long-term capital gains | 0.00000 | 0.00000 |
Total per share | 0.00000 | 0.00000 |
Ex-dividend date | 12/28/2023 | 12/28/2023 |
Pay date | 12/28/2023 | 12/28/2023 |
Status | Final | Final |
Source: Bank of New York Mellon and Baillie Gifford & Co
*Short-term capital gains are treated as ordinary income for U.S. Federal Income Tax Purposes.
Upcoming distributions
Please click here to view estimated capital gain distributions for 2024.
The table below shows the proposed distribution dates for the current tax year. The dates can be changed by the Officers of the Funds.
2024
December 27, 2024
December 30, 2024
December 30, 2024
Source: Bank of New York Mellon and Baillie Gifford & Co