Edinburgh Worldwide Investment Trust Plc

Global Growth

Rated Fund 2014-15, 2018-20. Taps into growth potential of small companies      

Edinburgh Worldwide was highly commended in the Best Global Growth Trust category of Money Observer’s investment trust awards in 2019 and also saw its Morningstar rating climb from bronze to silver. Part of the Baillie Gifford stable, it is the standout performer in the global smaller companies investment trust sector. Douglas Brodie, head of the global discovery team, has run the trust since 2014, when it first became a Rated Fund. Luke Ward and Svetlana Viteva became his deputies in 2017. They focus on identifying early-stage companies, typically with a market value of less than $5 billion (£3.8 billion)at the time of investment, offering solutions that haven’t yet been addressed by larger companies. These companies are likely to be sole operators in their end markets and are very early-stage disruptors within their industry.

The managers take a long-term approach to investment – generally at least a five-year horizon – and sell a holding only when one of three things occur: they feel their original investment case was mistaken; the market has caught up with their assessment of the stock; or they find a new idea. The trust has a strong tech focus, but risk is spread through diversification – having 75 to 125 holdings and exposure to a minimum of six countries and 15 industries.

Smaller companies typically exhibit a higher degree of risk than larger ones, but Morningstar analyst David Holder believes “risk has been used to good effect, as evidenced by the Sharpe ratio [a measure of return in relation to risk] when compared with peers and the index”. Shares in the trust tend to trade around the value of underlying assets.

Narrative and ratings content all as of 01 January 2020.

See all Money Observer rated funds
Name
Edinburgh Worldwide Investment Trust Plc
Manager
Baillie Gifford & Co Limited.
Type
Closed Ended Investment Company
ISIN
GB00BHSRZC82
Sector
Global Smaller Companies
Launched
10/07/1998
OCF
0.75 %
Risk Rating
5
3 Year Sharpe
0.83
3 Year Alpha
22.37
Yield
0 %
Benchmark
S&P GSCI TR USD
Fund Size
£ 553.36 million
NAV
166
Gearing
105
Discount Premium
1
The investment objective is the achievement of long term capital growth by investing primarily in listed companies throughout the world. The approach adopted is to construct a portfolio through the identification of individual companies which offer long term growth potential, normally over at least a five year horizon and which typically have a market cap of less than USD5 bn at the time of initial investment. The portfolio is actively managed and does not seek to track the comparative index hence a degree of volatility against the index is inevitable.
Holding %
MarketAxess Holdings Inc 5.14 %
Alnylam Pharmaceuticals Inc 4.60 %
Ocado Group PLC 4.45 %
LendingTree Inc 3.73 %
Zillow Group Inc C 2.70 %
Chegg Inc 2.67 %
NovoCure Ltd 2.61 %
PureTech Health PLC 2.57 %
Tesla Inc 2.28 %
Galapagos NV 1.96 %
Region %
United States 63.73 %
United Kingdom 13.03 %
Japan 6.65 %
Sector %
Healthcare 36.64 %
Technology 25.47 %
Financial Services 11.47 %
Consumer Defensive 7.67 %
Industrials 6.40 %
Communication Services 5.94 %
Consumer Cyclical 5.83 %
Name
Baillie Gifford & Co Limited.
Address
EH1 3AN, Edinburgh, United Kingdom
UCITS
No
Legal Structure
Closed Ended Investment Company

Managers

Luke Ward
Joined 12/07/2017

Luke graduated MEng (Hons) in Mechanical Engineering from the University of Edinburgh in 2012. Luke joined Baillie Gifford in 2012 and is an Investment Manager in the Global Discovery Team. Luke is also a Deputy Manager.

Svetlana Viteva
Joined 12/07/2017

Svetlana graduated BA in Economics and BA in Business Administration from the American University in Bulgaria in 2008, MSc in Investment Analysis from Stirling University in 2009 and PhD in Accounting and Finance from Stirling University in 2012. Svetlana joined Baillie Gifford in 2012 and is an Investment Manager in the Global Discovery Team. Svetlana is also a Deputy Manager. She is a CFA Charterholder.

Douglas Brodie
Joined 01/27/2014

Douglas graduated BSc in Molecular Biology & Biochemistry from Durham University in 1997 and with a DPhil in Molecular Immunology from the University of Oxford in 2001. He joined Baillie Gifford in 2001 and is Head of the Global Discovery Team. Douglas became a Partner in 2015 is a CFA Charterholder.

Data provided by Morningstar.

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