Baillie Gifford Global Stewardship Fund
Learn about the Baillie Gifford Global Stewardship Fund.
Overview
The Baillie Gifford Global Stewardship Fund (the “Fund”) is a long-term sustainable growth fund that invests in global stocks across a diverse range of market sectors.
Baillie Gifford believes that companies which are a net benefit to society, which balance the interests of all stakeholders, and which exhibit a responsible culture are more likely to prosper in the long run. Through engagement with management and voting actions, Baillie Gifford encourages best practice on governance and sustainability matters. This goes beyond Environmental, Social and Governance factors to encompass the company’s strategic direction, corporate culture and alignment with shareholders.
The Fund is a concentrated global equity portfolio that combines the best elements of stewardship and specialist regional expertise to invest in growth businesses over the long term.
Long-term sustainable growth investing
Aims to generate excellent long-term returns by investing in companies aligned with the needs of a successful, sustainable society
High ESG rating
Research house Lonsec’s fund rating includes a ‘High’ level of ESG integration on a peer-relative basis
ETHICAL SCREENING IN STOCK SELECTION
Assesses companies against minimum standards for responsible business via sector- and
performance-based screening
Screening
The Global Stewardship portfolio is subject to two types of ethical screening.
Performance-based screen
Assesses companies against the principles of the United Nations Global Compact for business.
These principles cover the following areas:
- human rights
- labour rights
- environmental safeguards
- combating bribery and corruption.
The principles are a ‘minimum bar’ standard for responsible business.
Sector-based screen
Prevents investments in any companies that derive more than 10% of their annual revenues from:
- the production or sale of tobacco, armaments or alcohol
- gambling or adult entertainment related activities
- fossil fuel extraction.
In addition, Colonial First State Investments Limited as Responsible Entity, does not allow any portfolio to invest in companies that are involved in the production of tobacco or controversial weapons.
Positive Inclusion Factors
- Will the company add value for society in the long run?
- Does it balance the needs of all stakeholders?
- Does the company exhibit a culture of responsible business?
These three core questions are asked of each company consideration. This discussion also allows Baillie Gifford to identify engagement priorities, material issues where they feel they can have influence should they decide to take a holding.
FUND FACTS
Invest in a portfolio of global companies with exceptional growth potential that also meet Baillie Gifford’s ‘minimum bar’ for conducting responsible business.
Investment objective: To outperform the MSCI All Country World Index in AUD per annum, over rolling five year periods before management fees and taxes.
Inception |
Style |
Distribution |
Holdings |
Investment horizon |
| 14 June 2019 | Global Equity – active, long only, fundamental, benchmark agnostic, growth bias | Half-yearly | Between 70 and 100 companies |
At least 5 years |
| Cash limit | Management fee1 | Performance fee | Minimum investment2 | APIR code |
| 0-5% | 0.85% p.a. (Class A) 0.95% p.a. (Wholesale Class) |
None | $25,000 (Class A) $5,000 (Wholesale Class) |
FSF4018AU (Class A) FSF7370 (Wholesale Class) |
1Please refer to the Product Disclosure Statement (PDS) for further details on fees and other costs that apply.
2We may be able to accept below the minimum at our discretion.
Research ratings
Lonsec1
Zenith2
The Lonsec 'Recommended' rating includes an ESG rating of 'High'
Resources
Performance Reports
Additional Information
Baillie Gifford Insights
TEAM
Andrew Cave
Head of Governance and Sustainability
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Andrew joined Baillie Gifford as Head of Governance and Sustainability in May 2015 and has been a member of the Global Stewardship Portfolio Construction Group since inception. In his previous role as Chief Sustainability Officer for RBS, Andrew was responsible for helping to rebuild RBS’s approach to corporate responsibility after the financial crisis. He is a member of the Financial Reporting Council’s Investor Advisory Group and is a former Chairman of the UK Global Compact Network. Andrew graduated MA in History from the University of Edinburgh in 1999 and MSc in International Development from London’s School of Oriental and African Studies (SOAS) in 2001. He has subsequently obtained a Postgraduate Diploma in Sustainable Business from the University of Cambridge.
Iain McCombie
Investment Manager, Partner
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Iain is a founding member of the Global Stewardship Portfolio Construction Group and is the lead manager of our UK Core strategy. Most recently, Iain served as Chief of Investment Staff from 2013 to 2018 and became a Partner of the firm in 2005. He initially joined Baillie Gifford in 1994 and spent five years training as an Investment Manager in the US Equities Team before joining the UK Equity Team in 1999. Iain graduated MA in Accountancy from the University of Aberdeen and subsequently trained as a Chartered Accountant.
MATTHEW BRETT
Investment Manager, Partner
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Matthew is an Investment Manager in the Japanese Equities Team and has been a member of the Global Stewardship Portfolio Construction Group since its inception. He is manager of the Japanese All Cap Strategy and Lead Manager of the Japanese Income Growth Strategy. Matthew joined Baillie Gifford in 2003 and became a Partner in 2018. He is a CFA Charterholder. Matthew graduated BA (Hons) in Natural Sciences (Psychology) from the University of Cambridge in 2000 and holds a PhD in Psychology from the University of Bristol.
Mike Gush
Investment Manager, Partner
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Mike has been involved with the Global Stewardship strategy since inception as a member of the Portfolio Construction Group. He is a named manager for Baillie Gifford’s Emerging Markets and China Funds, as well as being responsible for the Emerging Markets Small Cap strategy. Mike first joined Baillie Gifford in 2003 and before moving to the Emerging Markets Equity Team in 2005, Mike worked in the UK and Japanese Equity Teams. Mike became a Partner of the firm in 2020. He is a CFA Charterholder and graduated MEng from the University of Durham in 2003.
Gary Robinson
Investment Manager, Partner
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Gary has been a member of the Global Stewardship Portfolio Construction Group since its inception in 2015 and is an Investment Manager in the US Equities Team. He graduated MBiochem in Biochemistry from the University of Oxford in 2003 and joined Baillie Gifford the same year. He spent time working on our Japanese, UK and European Equity Teams before moving to the US Equities Team in 2008. Gary is a generalist investor but retains a special interest in the healthcare sector dating back to his undergraduate degree. Gary became a Partner of the firm in 2019.
Josie Bentley
Investment Manager
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Josie is an Investment Manager in the European Equity Team and became a member of the Global Stewardship Portfolio Construction Group in 2020. She joined Baillie Gifford in 2016 and spent time in the International Growth, UK Equity and High Yield Bond Teams. Josie started her career in London, working as a global board analyst at Russell Reynolds Associates. Josie graduated MA (Oxon) in Music from the University of Oxford in 2014.
Zaki Sabir
Senior Analyst
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Zaki joined Baillie Gifford in 2007 and in 2017 he became a member of the Global Stewardship Portfolio Construction Group. He is a Senior Analyst in the Global Discovery Investment Team. Zaki graduated BA in Business Accounting and Finance from the University of Newcastle in 2006.
Ratings disclaimers
The rating issued 05/2021 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2021 Lonsec. All rights reserved.
The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned FSF4018AU Nov/2020) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners. com.au/Regulatory Guidelines
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From time to time, CFSIL enters into alliance partnerships with dedicated and experienced investment specialists. Each alliance represents an agreement for CFSIL to provide third party distribution services within the Australian Financial Services intermediary market.