This factsheet covers the Baillie Gifford European Growth fund's monthly performance. The fund's NAV rose 10.3%, underperforming its benchmark's 23.5% gain, though year-to-date it still slightly leads. The manager doesn't give a clear market view but sticks to a long-term, concentrated portfolio of quality growth stocks. Key holdings: Bending Spoons (an Italian app company, nearly 20% of assets, the top pick), ASML (Dutch chip equipment maker, 6.1%), and Roche (Swiss pharma, 4.7%). The fund also holds 7.8% in private companies.
Baillie Gifford European Growth Trust reports data as of August 31, 2026. The fund aims to achieve long-term capital growth by investing in high-quality, owner-managed growth companies in Europe, with a concentrated portfolio (30-60 stocks) and an expected active share of over 80%. As of the reporti
The fund's NAV returned +10.3% this month vs. the benchmark's +23.5%, bringing the year-to-date cumulative NAV return to +22.1% vs. the benchmark's +20.9%. The share price has risen +27.1% over the past year, outperforming the NAV's +22.1%, but over the past five years, the share price has fallen -19.0% and the NAV -14.9%, significantly underperforming the benchmark's +55.1%.
| Metric | This Month (30/06/25-30/06/26) | Year-to-Date (1 Year) | 3 Years | 5 Years | 10 Years |
|---|---|---|---|---|---|
| Fund (Share Price) | +7.0% | +27.1% | +47.3% | -19.0% | +112.6% |
| Fund (NAV) | +10.3% | +22.1% | +34.2% | -14.9% | +91.9% |
| Benchmark (FTSE Europe ex UK) | +23.5% | +20.9% | +55.3% | +55.1% | +168.1% |
| Excess (NAV vs. Benchmark) | -13.2% | +1.2% | -21.1% | -70.0% | -76.2% |
The report did not provide individual stock-level contribution/detraction data for this month.
The report did not offer commentary on specific holdings.
[Stance Not Explicitly Stated] The report only articulates the investment philosophy (investing in high-quality, owner-managed growth companies, with a concentrated portfolio of 30-60 stocks and active share exceeding 80%) and does not express views on the current market environment or future outlook. A net exposure of 13% (net leverage ratio) and an annual turnover rate of 51% reflect the manager maintaining moderate leverage with low turnover, consistent with a long-term holding style.
The report did not disclose any position changes for this month. The top ten holdings account for 51.6% of total assets, with the largest position being Bending Spoons at 19.1%, followed by ASML (6.1%), Tekever Holdings (4.8%), and Roche (4.7%). Private companies collectively account for 7.8%.