Baillie Gifford Emerging Markets Equities Fund
Name
As of 11/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
12.8%
1 yr return
22.8%
3 Yr Avg Return
-4.3%
5 Yr Avg Return
2.9%
Net Assets
$4.78 B
Holdings in Top 10
43.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.66%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 19.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
BGEDX - Profile
Distributions
- YTD Total Return 12.8%
- 3 Yr Annualized Total Return -4.3%
- 5 Yr Annualized Total Return 2.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.68%
- Dividend Yield 3.5%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameBaillie Gifford Emerging Markets Equities Fund
-
Fund Family NameBaillie Gifford Funds
-
Inception DateApr 27, 2015
-
Shares Outstanding62879013
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryGB
-
ManagerMike Gush
Fund Description
The Fund seeks to meet its objective by investing in a portfolio of common stocks and other equity securities of issuers located in countries of emerging and frontier markets.
Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of companies located in countries represented in the MSCI Emerging Markets Index. The countries represented in the MSCI Emerging Markets Index include markets that may be less sophisticated than more developed markets in terms of participation by investors, analyst coverage, liquidity, and regulation. The Fund invests in equity securities either directly or indirectly, such as through depositary receipts or participatory notes, and may invest in preferred stocks, convertible securities and warrants. The Fund is not constrained with respect to market capitalization and may participate in initial public offerings ("IPOs") and in securities offerings that are not registered in the U.S. The portfolio managers have flexibility to gain exposure to one or more emerging markets through investing in exchange traded funds ("ETFs") that track relevant equity indices.
The portfolio managers primarily employ a bottom-up approach to stock selection and select companies without being constrained by the MSCI Emerging Markets benchmark. The portfolio managers may reference the benchmark to set limits on the relative weighting of countries in the portfolio. The portfolio managers can also consider macro-economic factors when identifying potential investments. The portfolio managers focus on company research and the long-term outlook of companies and industries. Ideas can come from a wide variety of sources, including, but not limited to, research trips, company meetings, and relationships with industry thought leaders and academic institutions. Stock ideas are normally researched to assess a range of factors, including: long-term growth potential, geographic and industry positioning, competitive advantage, management, financial strength and valuation. The intended outcome is a diversified portfolio of between 60 and 100 growth stocks with the potential to outperform the Fund's benchmark over the long term. The process can result in significant exposure to a single country or a small number of countries, which in recent periods has included China. The Fund expects to invest significantly in Chinese companies including through China A shares, which are common stocks and other equity securities that are listed or traded on a Chinese stock exchange and which are quoted in renminbi, the official currency of China. The Fund aims to hold securities for long periods (typically at least 5 years), which generally results in relatively low portfolio turnover and is in line with the portfolio managers' long-term investment outlook. Consistent with this investment outlook, the portfolio managers seek to identify companies with the potential to sustain financial growth over the long term. When assessing a company's long-term growth prospects, the portfolio managers seek to identify and to incorporate a range of factors that are material to managing the Fund's investment risks and maximizing capital appreciation. Such factors potentially include the environmental, social, and/or governance characteristics of the company, such as stewardship, sustainable business practices, and/or corporate culture.
The Fund may invest without limitation in securities quoted or denominated in currencies other than the U.S. dollar and may
hold such currencies. The Fund does not expect to engage in currency hedging and thus expects to be fully exposed to currency fluctuations relative to the U.S. dollar.
BGEDX - Performance
Return Ranking - Trailing
Period | BGEDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 12.8% | -12.1% | 34.0% | 40.62% |
1 Yr | 22.8% | -6.6% | 43.9% | 30.89% |
3 Yr | -4.3%* | -14.0% | 11.4% | 67.20% |
5 Yr | 2.9%* | -4.7% | 11.9% | 60.68% |
10 Yr | N/A* | -2.0% | 6.9% | 48.97% |
* Annualized
Return Ranking - Calendar
Period | BGEDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.1% | -6.5% | 35.5% | 34.27% |
2022 | -30.1% | -50.1% | -2.4% | 83.19% |
2021 | -11.6% | -33.1% | 22.5% | 75.46% |
2020 | 28.0% | -22.1% | 80.1% | 17.47% |
2019 | 23.4% | -0.7% | 42.0% | 19.24% |
Total Return Ranking - Trailing
Period | BGEDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 12.8% | -12.1% | 34.0% | 40.62% |
1 Yr | 22.8% | -6.6% | 43.9% | 30.89% |
3 Yr | -4.3%* | -14.0% | 11.4% | 67.20% |
5 Yr | 2.9%* | -4.7% | 11.9% | 60.68% |
10 Yr | N/A* | -2.0% | 6.9% | 48.34% |
* Annualized
Total Return Ranking - Calendar
Period | BGEDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.5% | -2.7% | 42.0% | 27.11% |
2022 | -26.3% | -42.2% | 1.9% | 76.38% |
2021 | -11.5% | -32.5% | 33.1% | 94.79% |
2020 | 29.7% | -20.0% | 81.6% | 19.23% |
2019 | 28.2% | 2.3% | 42.0% | 11.77% |
NAV & Total Return History
BGEDX - Holdings
Concentration Analysis
BGEDX | Category Low | Category High | BGEDX % Rank | |
---|---|---|---|---|
Net Assets | 4.78 B | 682 K | 103 B | 15.01% |
Number of Holdings | 77 | 9 | 7534 | 66.48% |
Net Assets in Top 10 | 2.28 B | 290 K | 23.8 B | 11.50% |
Weighting of Top 10 | 43.56% | 2.9% | 101.1% | 15.17% |
Top 10 Holdings
- Taiwan Semiconductor Manufacturing Co Ltd 13.36%
- Samsung Electronics Co Ltd 4.66%
- SK Hynix Inc 4.28%
- Reliance Industries Ltd 4.17%
- MercadoLibre Inc 3.73%
- Tencent Holdings Ltd 3.60%
- Petroleo Brasileiro SA 3.12%
- Alibaba Group Holding Ltd 2.31%
- Hyundai Motor Co 2.26%
- MediaTek Inc 2.06%
Asset Allocation
Weighting | Return Low | Return High | BGEDX % Rank | |
---|---|---|---|---|
Stocks | 96.94% | 0.00% | 107.82% | 56.10% |
Preferred Stocks | 1.82% | 0.00% | 13.31% | 28.75% |
Cash | 1.25% | -2.03% | 98.08% | 64.94% |
Other | 0.00% | -1.11% | 26.93% | 58.35% |
Convertible Bonds | 0.00% | 0.00% | 7.40% | 45.34% |
Bonds | 0.00% | 0.00% | 88.10% | 51.19% |
Stock Sector Breakdown
Weighting | Return Low | Return High | BGEDX % Rank | |
---|---|---|---|---|
Technology | 27.57% | 0.00% | 47.50% | 20.17% |
Financial Services | 19.84% | 0.00% | 48.86% | 61.36% |
Consumer Cyclical | 17.29% | 0.00% | 48.94% | 15.63% |
Basic Materials | 11.66% | 0.00% | 30.03% | 15.91% |
Energy | 9.35% | 0.00% | 24.80% | 6.82% |
Communication Services | 7.74% | 0.00% | 39.29% | 65.20% |
Industrials | 3.35% | 0.00% | 43.53% | 86.08% |
Healthcare | 1.98% | 0.00% | 16.53% | 81.11% |
Consumer Defense | 1.06% | 0.00% | 25.90% | 97.02% |
Real Estate | 0.17% | 0.00% | 17.15% | 80.26% |
Utilities | 0.00% | 0.00% | 39.12% | 82.81% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | BGEDX % Rank | |
---|---|---|---|---|
Non US | 77.78% | 0.00% | 100.18% | 76.86% |
US | 19.16% | 0.00% | 100.95% | 18.37% |
BGEDX - Expenses
Operational Fees
BGEDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.66% | 0.03% | 29.98% | 88.61% |
Management Fee | 0.53% | 0.00% | 2.00% | 13.76% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.85% | 39.76% |
Sales Fees
BGEDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | 99.24% |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
BGEDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 99.57% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
BGEDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 19.00% | 0.00% | 189.00% | 13.62% |
BGEDX - Distributions
Dividend Yield Analysis
BGEDX | Category Low | Category High | BGEDX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.54% | 0.00% | 9.74% | 11.50% |
Dividend Distribution Analysis
BGEDX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Annual | Annual |
Net Income Ratio Analysis
BGEDX | Category Low | Category High | BGEDX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.68% | -1.98% | 17.62% | 23.29% |
Capital Gain Distribution Analysis
BGEDX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 28, 2023 | $0.784 | OrdinaryDividend |
Dec 28, 2022 | $0.959 | OrdinaryDividend |
Dec 29, 2021 | $0.034 | CapitalGainShortTerm |
Dec 29, 2020 | $0.385 | OrdinaryDividend |
Dec 27, 2019 | $0.682 | OrdinaryDividend |
Dec 27, 2019 | $0.034 | CapitalGainShortTerm |
Dec 27, 2019 | $0.156 | CapitalGainLongTerm |
BGEDX - Fund Manager Analysis
Managers
Mike Gush
Start Date
Tenure
Tenure Rank
Dec 31, 2005
16.42
16.4%
Mike graduated MEng in Mechanical Engineering from Durham University in 2003. He joined Baillie Gifford in the same year and worked in the UK and Japanese Equity Teams before moving to the Emerging Markets Equity Team in 2005, where he is an Investment Manager. Mike is CFA Charter holder.
Andrew Stobart
Start Date
Tenure
Tenure Rank
Dec 31, 2007
14.42
14.4%
Andrew Stobart joined Baillie Gifford in 1991. He has worked in the Japanese, North American and UK Equity Teams. Prior to joining Baillie Gifford, Mr. Stobart worked for three years in investment banking in London.
Ben Durrant
Start Date
Tenure
Tenure Rank
Jun 11, 2021
0.97
1.0%
Mr. Durrant is an Investment Manager in the Emerging Markets Team and before that he was an Investment Analyst in the Private Companies Team. He joined Baillie Gifford in 2017. He previously worked for RBS in their Group Strategy and Corporate Finance Team. He is also a Chartered Accountant and a CFA Charterholder. Ben graduated BSc (Hons) in Mathematics from the University of Edinburgh in 2012.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 33.71 | 6.66 | 13.42 |