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Baillie Gifford European Growth Trust Letters & Research Archive

6 pieces · 2025–2026 · updated every Monday

2026

09-08Baillie Gifford European Growth Investment Trust FactsheetThis 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.…→08-12Baillie Gifford European Growth Investment Trust FactsheetThis is a monthly update for the Baillie Gifford European Growth investment trust, a fund that buys European companies expected to grow for a long time. Over the past year it returned 14.5%, but its benchmark, a broad European stock index, rose 21.3%, so it lagged badly; over five years it fell while the benchmark climbed. The report makes no market forecast, just says it sticks to picking quality companies and holding them. The portfolio is very…→07-09Baillie Gifford European Growth Investment Trust FactsheetThis factsheet covers Baillie Gifford European Growth Trust, a fund that invests in 30–60 European companies, some of them private start-ups. Over the past year it returned 10.3%, but its benchmark—the FTSE Europe ex UK index—gained 23.5%. Over five years the fund lost 16.4% while the index rose 61.4%. The shares also trade at an 11.3% discount to the value of the underlying assets. In plain terms: this is a concentrated, high-risk fund that can…→07-01European Growth Trust Valuation - 30 April 2026This is a snapshot of a European growth fund's holdings as of April 30, 2026. The fund manages about £348 million. Roughly 85% is in publicly traded European companies, 14% in private firms, and only 0.4% in cash—so it's almost fully invested. Its biggest stock position is ASML, a chip-equipment maker, at 6.3% of assets. Among private investments, one company, Bending Spoons, accounts for 10% of the whole fund, which is a significant concentratio…→05-27Baillie Gifford European Growth Trust Interim Report - March 2026This half-year report shows Baillie Gifford's European Growth Trust shifting from pricey tech stocks to cheaper banks, industrials and energy. Its view: Europe's energy shock will hurt, but solid companies were oversold in the AI sell-off, so it prefers preparation over prediction, building a portfolio that can work whether the conflict escalates or fades. Key holdings: Bending Spoons (largest position, an app maker likely to IPO this year), ASML…→

2025

12-09Baillie Gifford European Growth Trust Annual Report - September 2025Baillie Gifford European Growth Trust's annual report: the fund buys European growth companies and holds them long-term. It lagged its benchmark this year but outperformed in the second half; the manager is cautiously optimistic, saying European growth stocks look cheap. Key holdings include Bending Spoons (an app-acquisition company, up 258%), ASML (Dutch lithography giant) and Prosus (an internet investor mainly holding Tencent). The trust also…→