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The focus of this fund is selecting large and medium sized companies showing long term growth potential, whose shares are trading on reasonable valuations. The fund is managed from Edinburgh. Research is conducted internally and through the use of sell side analysts. The team will also make regular visits to the US. Group views and constraints may also affect the portfolio construction.
|Dividends paid||Acc units only|
|Standard initial charge||0.00%|
|Initial charge via Bestinvest||0.00%|
|Additional bid/offer spread||0.00%|
|Annual management charge||1.50%|
|Ongoing charges figure||1.52%|
Before investing make sure you have understood the risks relevant to the fund by reviewing our Risk Warnings section. Further information on the risks are contained in the fund's Key Information Investor Document, which we make available to you before you make a decision to invest, alternatively it is available on request.
No information available.
|High yield bonds||0|
This fund holds companies with a market cap greater than $3bn, mainly in the US but Canadian stocks may be held at times. A bottom up stock-picking approach is used to identify attractive long-term growth prospects coupled with shares trading on reasonable valuations. Industry and economic factors will be taken into account when analysing companies, but the profile of the fund will be mainly a result of the stock selection and adherence to risk controls. Analysts seek a sustainable return on capital generated through a strong business model or market position, above average growth funded internally and management committed to creating shareholder value. Inclusion in the portfolio is determined by strength of conviction and the effect on portfolio profile. Portfolio turnover is low, with the management prepared to back companies for the long term if fundamentals remain in place.
|Fund data updated on||21/06/19|
|High yield bonds||0|
As at: 30/04/2019
9.2% Amazon.com Inc
5.8% Wayfair Inc
5.6% Netflix Inc
5.3% Marketaxess Hldgs Inc
4.6% Shopify Inc Npv Subordinated A
4.4% Alphabet Inc
4.2% Illumina Inc
4% Facebook Inc
4% Tesla Inc
3.9% Mastercard Inc
A concentrated portfolio of 40-50 stocks.
Maximum stock and sector bets relative to the S&P 500 are +/-5% and +/-10% respectively. Tracking error target is 4-8%.
The portfolio usually has very little commonality with the benchmark and so performance can be expected to differ markedly on occasions.
|Average monthly relative returns||Bestinvest MRI|
|14/15||15/16||16/17||17/18||18/19||3 years||5 years||Career||3 years||5 years||Career|
|Performance figures are based on the average of monthly percentage returns relative to the benchmark index.|
Tabberer graduated BSc in Geography from the University of Southampton in 1995. He then joined the Royal Navy where he served as a Warfare Officer within the Submarine Service for six years. He entered the investment management industry in 2001 and worked at Scottish Widows, where he was a Portfolio Manager for North American Equity until joining Baillie Gifford in 2008. Ian is an Investment Manager in our North American Equity Team
Gary Robinson / Ian Tabberer has 5.1 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.46%. During the worst period of relative performance (from August 2018 - October 2018) there was a decline of 11% relative to the index. The worst absolute loss has been 20%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 89%.
|Periods of worst performance|
|Absolute||-20% (August 2018 - December 2018)|
|Relative||-11% (August 2018 - October 2018)|
Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.