Baillie Gifford Positive Change Fund


Ethical and Sustainable Investing
18/9/2020

Manager - Baillie Gifford

Fund Name - Positive Change Fund B Acc

  • Currency - GBP
  • ISIN - GB00BYVGKV59
  • Benchmark - MSCI AC World
  • Cost p.a. - 0.55%
  • Domicile - UK
  • Launch - 2017-01
  • Structure - OEIC
Performance from 2018
Year        Annual        Cumulative    Annualised
2018 5.48%     5.48%             5.48%
2019 25.79%     32.68%     15.19%

Other Share Classes
  • GB00BYVGKX73 – B Inc GBP (cost 0.55% p.a.)

From The Factsheet

The Fund invests in an actively managed portfolio of 25-50 global high quality growth companies which can deliver positive change in one of four areas: Social Inclusion and Education, Environment and Resource Needs, Healthcare and Quality of Life; and Base of the Pyramid (addressing the needs of the world’s poorest populations). A Portfolio Construction Group of two investment managers and two impact analysts from our Governance and Sustainability team generate ideas from a diverse range of sources. With a focus on fundamental in-house research, the group complete a two stage analysis of all holdings, looking at both the financial and positive change aspects case for each stock using a consistent framework. The output is a high conviction and differentiated portfolio. We expect turnover to be low, around 20% per annum over the long run.

My Comments

The performance of the Baillie Gifford Positive Change Fund has been outstanding since launch, noting this was less than three years ago.  Much of the gains have been delivered post the COVID dip, reflecting that this is a fund holding only around thirty stocks.  

This is a global equity fund, covering both developed markets and emerging economies. The fund is highly concentrated, holding only between 25-50 stocks at any time.  Investors in this fund should be comfortable with potentially high levels of volatility.

The fund has seen huge inflows during 2020, with assets rising from £200m at the start of the year, to over £1.1b as of September.

Like it's stablemate, the Baillie Gifford Global Stewardship fund, the Positive Change Fund's ESG credentials are average, although with only a fractional fossil fuel involvement. 

Notes

  • Cost means Ongoing Charges Figure or best equivalent.
  • Past performance is not a guide to future returns.
  • Data provided for information only, and may be inaccurate or out of date.  
  • Not an investment recommendation.  




No comments:

Post a comment

Roy says: "Thanks for taking the time to leave a message, comment, or continue the conversation!"