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Baillie Gifford Global Discovery

Elite Rated by FundCalibre

Renowned for the quality of its in-house research, Baillie Gifford brought its small-cap teams together in 2011 to form the global discovery team. The fund consists of what the team believe to be the most innovative and fast-growing companies in the world. It has a strong growth bias and is aggressive in nature.

Company Description

Founded in 1908 and employee-owned, Baillie Gifford is based in Edinburgh but has offices in London and New York. Awarded the Elite Provider for Equities Rating in 2016, as well as the Elite Provider for Bonds Rating in 2015, it specialises globally in equities, fixed income and multi-asset portfolios.

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Fund Manager

Douglas Brodie graduated with a BSc in Molecular Biology & Biochemistry from Durham University in 1997 and with a DPhil in Molecular Immunology from the University of Oxford in 2001. He joined Baillie Gifford in 2001 and is head of the global discovery team. Douglas is a CFA charterholder. He is supported by a number of experienced regional specialists.

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The world has become more dynamic. The unrelenting impact of technology is driving new business creation and forcing change onto what were previously stable industries. This opens up new opportunities for small fleet-footed innovators and we believe it opens up opportunities for us too.

Douglas Brodie - Fund Manager

The Investment Process

Doug and his team take an unusual approach when looking for investments. They don’t use generic screens to create lists of potential stocks, nor do they use broker research. Instead, the team think about the kinds of companies they would like to invest in, and undertake fundamental stock research to find opportunities. Each member of the team has expertise in areas outside of finance, so they can truly understand their companies. They look for businesses doing something very different in their space, which may well be loss-making, so long as the team can see future potential.

Risk

As the underlying companies are small in size and are targeting growth, this fund is significantly more volatile and risky than the global stock market. Also, while some stock, sector and country limits are in place, the fund can stray away from its index, which has the potential to further increase the volatility.

Our Opinion

This fund lends itself well to Baillie Gifford’s strengths, namely rigorous company research, with a long-term perspective. The focus on growth and smaller companies seperate this fund from many others in the global sector. While this fund is perhaps not for the faint hearted, investors have, so far, been richly rewarded.

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©2014 FundCalibre Limited. All Rights Reserved. The information, data, analyses, and opinions contained herein (1) include the proprietary information of FundCalibre, (2) may not be copied or redistributed without prior permission, (3) do not constitute investment advice offered by FundCalibre, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a fund, and (5) are not warranted to be correct, complete, or accurate. FundCalibre shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. The Elite Fund rating is subjective in nature and reflects FundCalibre’s current expectations of future events/behaviour as they relate to a particular fund. Because such events/behaviour may turn out to be different than expected, FundCalibre does not ,guarantee that a fund will perform in line with its FundCalibre benchmark. Likewise, the Elite Fund rating should not be seen as any sort of guarantee or assessment of the creditworthiness of a fund or of its underlying securities and should not be used as the sole basis for making any investment decision. FundCalibre disclaims any responsibility for trading decisions, damages or other losses resulting from any use of the Elite Fund rating.