Baillie Gifford Edinburgh Worldwide Investment Trust Factsheet
In plain words
This factsheet covers Baillie Gifford's global small-cap fund. It returned ~38% over the past year, beating its benchmark's 20%. No market view is given, but the fund focuses on frontier tech firms. Top holdings include SpaceX (space exploration, 18% of assets), Twist Bioscience (gene sequencing, 4.7%), and PsiQuantum (quantum computing, 3.8%). The fund holds net cash (negative leverage) and has low turnover, showing a cautious approach.
Edinburgh Worldwide Investment Trust plc’s report for the period ending August 31, 2026, indicates that the trust focuses on investing in listed and private companies in the global frontier technology innovation and transformation sectors, aiming to achieve long-term capital appreciation by taking e
This Month's Report Card
No single-month data is provided for this period, but over the past year (as of August 31, 2026), the share price return was 38.9% and the NAV return was 37.7%, both significantly outperforming the S&P Global Small Cap Index's 20.3%.
2024 real GDP growth is estimated at 5.0%, nominal GDP growth at 4.2%, and the GDP deflator at -0.7%
| Metric | 1 Year | 3 Years | 5 Years | 10 Years |
|---|---|---|---|---|
| Fund (Share Price) | 38.9% | 76.3% | -19.7% | 175.3% |
| Fund (NAV) | 37.7% | 58.3% | -15.1% | 161.2% |
| Benchmark (S&P Global Small Cap Index) | 20.3% | 46.8% | 40.4% | 149.6% |
The annualized quarterly GDP growth rates for the four quarters of 2024 were 6.0%, 4.5%, 5.0%, and 5.0%, respectively
Discrete annual performance (as of June 30 each year):
The CSI 300 P/E ratio is 13.5x, the CSI 500 P/E ratio is 25.2x, and the ChiNext Index P/E ratio is 36.8x
| Metric | 2021/22 | 2022/23 | 2023/24 | 2024/25 | 2025/26 |
|---|---|---|---|---|---|
| Share Price | -51.5% | -18.9% | 4.4% | 17.5% | 67.9% |
| NAV | -42.4% | -11.4% | -7.1% | 12.8% | 63.5% |
| Benchmark | -11.3% | 8.2% | 10.5% | 4.5% | 33.0% |
Contributors and Detractors
The 10-year government bond yield fell from 2.6% at the start of 2024 to 2.1% at the end of 2024
The report does not provide attribution analysis for this month or quarter, only disclosing the top ten holdings and sector distribution. The top ten holdings account for 47.4% of total assets, with Space Exploration Technologies leading at 18.4%, followed by Twist Bioscience (4.7%), PsiQuantum (3.8%), Xometry, Inc. (3.6%), Alnylam Pharmaceuticals (3.4%), Echodyne (3.3%), JFrog (2.9%), Axon Enterprise (2.6%), ASPEED Technology (2.5%), and Oxford Nanopore Tech (2.2%).
Stock Commentary
The report does not provide commentary on specific holdings.
Manager's Market View
The CSI 500/CSI 300 ratio declined from 0.85 in January 2024 to 0.78 in December 2024
[Not explicitly stated] The report does not provide the manager's latest views or outlook on the market. It only reiterates the investment strategy: focusing on listed and private companies in global frontier technology innovation and transformation sectors, achieving long-term capital appreciation by investing early in emerging companies with disruptive growth potential. The portfolio does not track an index, and volatility is unavoidable. Risk is diversified by holding 60-100 companies across at least 6 countries and 15 industries. Net gearing is -3% (net cash position), Active Share is as high as 99%, and the annual turnover rate is only 21%, indicating extremely low index overlap and very low trading frequency.
Position Moves: Where to Add, Where to Reduce
Global semiconductor sales grew from $46 billion in January 2024 to $53 billion in December 2024, a year-over-year increase of 15%
The report does not disclose any new positions, additions, reductions, or liquidations for this month. Based solely on static data: Net gearing is -3% (i.e., holding net cash), Gross Gearing is 3% (minor borrowing), investment in private companies accounts for 11.6% (below the 25% limit). Geographically, North America dominates at 68.5%, followed by Asia at 10.4%, Europe at 6.5%, the UK at 5.3%, and net current assets at 5.2%. By sector, the top three are diversified telecommunication services, software, and biotechnology.
Fund Matters
China's mobile phone shipments were 74 million units in Q1 2024, 76 million in Q2, 78 million in Q3, and 80 million in Q4
- Total Assets: £1,011.16 million; Total Borrowings: £25.82 million.
- Ongoing Charges: 0.85% (calculated per AIC recommendations).
- Dividend Yield: Nil.
- Share Price Discount to NAV: 6.5%.
- Management Team: Douglas Brodie* (Partner), Luke Ward, Svetlana Viteva.
- Management Fee: Baillie Gifford charges quarterly, with a tiered rate: 0.75% on the first £50 million of net assets, 0.65% on the next £200 million, and 0.55% on the remainder.
- Rating: As of July 31, 2026, received an overall rating from Morningstar.