Overview
ISIN
GB00BMC7T380SEDOL
BMC7T38Investment proposition
Share price and charges
Price
94.00pNAV at fair
105.10pPremium (+) or discount (-) at fair
-10.6%Ongoing charges*
0.66%Fund facts
Active share
85%*
Fund launch date
1972
AIC Investment Sector
Europe ex UK
Benchmark
FTSE Europe ex UK Index
*Relative to FTSE Europe ex UK Index. Source: Baillie Gifford & Co, FTSE.
Meet the managers
Meet the directors
Regulatory news announcements
Regulatory news announcements which are released to the London Stock Exchange can be accessed via their service.
The Association of Investment Companies
Further information on investment trusts and the investment trust sector can be found on The Association of Investment Companies website.
Index disclaimer
Fund performance
Periodic Performance
As at: 28 February 2026
1 Year | 3 Years | 5 Years | 10 Years | |
|---|---|---|---|---|
Share Price | 7.2% | 16.0% | -20.2% | 92.3% |
NAV | 4.5% | 7.5% | -10.8% | 84.8% |
Index* | 24.4% | 52.2% | 78.0% | 203.4% |
Discrete Performance
As at: 31 December 2025
31/12/2020 – 31/12/2021 | 31/12/2021 – 31/12/2022 | 31/12/2022 – 31/12/2023 | 31/12/2023 – 31/12/2024 | 31/12/2024 – 31/12/2025 | |
|---|---|---|---|---|---|
Share Price | 4.2% | -41.3% | 10.4% | -7.5% | 27.6% |
NAV | 13.4% | -35.2% | 10.0% | -5.3% | 15.5% |
Index* | 17.6% | -9.4% | 15.7% | 3.1% | 27.9% |
Performance
As at: 28 February 2026
Source: Morningstar, FTSE.
Performance figures appear in GBP. Please bear in mind that past performance is not a guide to future returns. The value of your investment may go down as well as up, and you may not get back the amount you invested.
Benchmark data is limited to a 5 year period from the current date.
The graph has been rebased to 100.
Discount/premium history at fair
As at: 28 February 2026
Source: Morningstar. Premium/Discount of share price to NAV at fair.
If the graph shows negative figures this means that the share price is lower than the NAV at fair – this is known as trading at a Discount.
If the graph shows positive figures this means that the share price is higher than the NAV at fair - this is known as trading at a Premium.
Active share
As at: 28 February 2026
Relative to FTSE All-Share Index, total return. Source: Baillie Gifford & Co, FTSE.
Fund portfolio holdings
The list of top 10 holdings that this fund invests in.
As at: 28 February 2026
| # | Holding | % of total assets |
|---|---|---|
| 1 | Bending Spoons | 9.4% |
| 2 | ASML | 6.2% |
| 3 | Roche | 4.8% |
| 4 | Prosus | 3.8% |
| 5 | Sandoz Group AG | 3.4% |
| 6 | Ryanair | 3.1% |
| 7 | DSV | 3.0% |
| 8 | Royal Unibrew | 3.0% |
| 9 | KBC [Kredietbank] | 3.0% |
| 10 | Kingspan Group | 2.9% |
Insights
Key articles, videos and podcasts relating to the fund:
Filters
Insights
Counter intuitive
How Poland’s Dino Polska built a small town supermarket giant.
European Growth Trust: Manager Insights
An update on performance, portfolio movements and investment outlook.
Pushing rocks uphill: the case for European equities
Is this the turning point European investors have been waiting for?
Europe’s turning point
Chris Davies, joint manager of the European Growth Trust, on Europe's economic transformation.
The Next Chapter
Baillie Gifford trusts showcase private market focus and AI optimism at annual investment conference.
Atlas Copco: Stock Story
Ben Drury explores how a culture of innovation and decentralisation drives success in industrial technology.
ASML: Stock Story
Paul Taylor explores the cutting-edge semiconductor technology advancing the digital revolution.
Europe: unique brands, hidden champions
Why a long-term approach to the continent’s growth stocks is more relevant than ever.
How DSV became global freight’s top dog
Conquering trade logistics one merger at a time.
European Growth Trust: Manager Insights
An update on performance, portfolio movements and investment outlook.
Our best ideas in Europe
Thomas Hodges uses Lonza, Topicus and Soitec to illustrate why Europe is more exciting than headlines suggest.
Europe's growth gems
Exploring the European Growth Trust’s dynamic companies and what sets them apart.
Moncler: from mountain to street
How the outerwear pioneer innovated its way into the fashion elite.
European Growth Trust: Manager Insights
An update on performance, portfolio positioning and why we believe our holdings remain both resilient and opportunistic.
European growth: time to bargain hunt?
Stephen Paice outlines where the opportunities lie and the trends driving value creation.
The history of the European Growth Trust
How a trust giving investors access to the European market has found grounds for optimism despite volatility.
Europe’s new growth stars
Three companies helping turn the continent from an innovation backwater to a hotspot.
European Growth Trust: manager insights
Despite a tough economy, we can still find valuable outliers by investing long term
50 years of European Growth
The Baillie Gifford-managed Trust tracked half a century of continental turbulence and triumph.
Atlas Copco: Sweden’s best kept secret
Stephen Paice speaks to Matt Reustle on the Business Breakdowns podcast.
A smörgåsbord of innovation.
Sweden tops the charts for original thinking, from family businesses to founder-run companies.
Trip Notes: Helsinki.
European Growth Trust manager Stephen Paice dips a digital toe into Slush’ event for hot start-ups.
Growth Investing in Europe.
In this webinar, Steven Paice discusses why the case for owning growing, innovative companies in Europe is only getting stronger.
Baillie Gifford explains its approach to valuing private companies in investment trust portfolios.
European Equities Manager Update.
When the going gets tough, exceptional companies keep going. Stephen Paice on Europe’s best.
Kepler Research Report - Baillie Gifford European Growth Trust
Kepler’s latest research report. Please note that this is paid for research.
Baillie Gifford European Growth Trust AGM.
Moritz Sitte, co-manager of the Baillie Gifford European Growth Trust, gives an update on investment philosophy, portfolio activity and positioning, and outlook.
sennder’s co-founder explains how its software platform helps truckers carry fuller loads.
Baillie Gifford European Growth Trust Webinar.
Richard Lander of Citywire hosts a webinar on the European Growth Trust and is joined by Stephen Paice, co-manager of the trust, who aims to answer the question: Are you investing in the right Europe?
Europe's digital ambitions
European companies have quietly built up some of the world’s largest digital platforms for commerce. The next stage will be anything but quiet, Stephen Paice and Moritz Sitte, joint managers of Baillie Gifford European Growth Trust, tell Heather Farmbrough.
Baillie Gifford European Growth Trust AGM.
Stephen Paice, investment manager of the Baillie Gifford European Growth Trust plc, gives an update on investment philosophy, performance, portfolio positioning and outlook.
How COVID is changing the way we shop
The digital disruption of the high street accelerated during the pandemic. Baillie Gifford’s Moritz Sitte explores the innovative ways in which European retailers are reshaping the future of shopping.
European stock stories
Investment managers Stephen Paice and Moritz Sitte give some examples of European companies that tick all the boxes and show exciting growth potential.
Counter intuitive
How Poland’s Dino Polska built a small town supermarket giant.European Growth Trust: Manager Insights
An update on performance, portfolio movements and investment outlook.Pushing rocks uphill: the case for European equities
Is this the turning point European investors have been waiting for?Europe’s turning point
Chris Davies, joint manager of the European Growth Trust, on Europe's economic transformation.The Next Chapter
Baillie Gifford trusts showcase private market focus and AI optimism at annual investment conference.Atlas Copco: Stock Story
Ben Drury explores how a culture of innovation and decentralisation drives success in industrial technology.ASML: Stock Story
Paul Taylor explores the cutting-edge semiconductor technology advancing the digital revolution.Europe: unique brands, hidden champions
Why a long-term approach to the continent’s growth stocks is more relevant than ever.How DSV became global freight’s top dog
Conquering trade logistics one merger at a time.European Growth Trust: Manager Insights
An update on performance, portfolio movements and investment outlook.Our best ideas in Europe
Thomas Hodges uses Lonza, Topicus and Soitec to illustrate why Europe is more exciting than headlines suggest.Europe's growth gems
Exploring the European Growth Trust’s dynamic companies and what sets them apart.Moncler: from mountain to street
How the outerwear pioneer innovated its way into the fashion elite.European Growth Trust: Manager Insights
An update on performance, portfolio positioning and why we believe our holdings remain both resilient and opportunistic.European growth: time to bargain hunt?
Stephen Paice outlines where the opportunities lie and the trends driving value creation.The history of the European Growth Trust
How a trust giving investors access to the European market has found grounds for optimism despite volatility.Europe’s new growth stars
Three companies helping turn the continent from an innovation backwater to a hotspot.European Growth Trust: manager insights
Despite a tough economy, we can still find valuable outliers by investing long term50 years of European Growth
The Baillie Gifford-managed Trust tracked half a century of continental turbulence and triumph.Atlas Copco: Sweden’s best kept secret
Stephen Paice speaks to Matt Reustle on the Business Breakdowns podcast.A smörgåsbord of innovation.
Sweden tops the charts for original thinking, from family businesses to founder-run companies.Trip Notes: Helsinki.
European Growth Trust manager Stephen Paice dips a digital toe into Slush’ event for hot start-ups.Growth Investing in Europe.
In this webinar, Steven Paice discusses why the case for owning growing, innovative companies in Europe is only getting stronger.Valuing private companies.
Baillie Gifford explains its approach to valuing private companies in investment trust portfolios.European Equities Manager Update.
When the going gets tough, exceptional companies keep going. Stephen Paice on Europe’s best.Kepler Research Report - Baillie Gifford European Growth Trust
Kepler’s latest research report. Please note that this is paid for research.Baillie Gifford European Growth Trust AGM.
Moritz Sitte, co-manager of the Baillie Gifford European Growth Trust, gives an update on investment philosophy, portfolio activity and positioning, and outlook.sennder: Helping Truckers Cut Costs and Carbon.
sennder’s co-founder explains how its software platform helps truckers carry fuller loads.Baillie Gifford European Growth Trust Webinar.
Richard Lander of Citywire hosts a webinar on the European Growth Trust and is joined by Stephen Paice, co-manager of the trust, who aims to answer the question: Are you investing in the right Europe?Europe's digital ambitions
European companies have quietly built up some of the world’s largest digital platforms for commerce. The next stage will be anything but quiet, Stephen Paice and Moritz Sitte, joint managers of Baillie Gifford European Growth Trust, tell Heather Farmbrough.Baillie Gifford European Growth Trust AGM.
Stephen Paice, investment manager of the Baillie Gifford European Growth Trust plc, gives an update on investment philosophy, performance, portfolio positioning and outlook.How COVID is changing the way we shop
The digital disruption of the high street accelerated during the pandemic. Baillie Gifford’s Moritz Sitte explores the innovative ways in which European retailers are reshaping the future of shopping.European stock stories
Investment managers Stephen Paice and Moritz Sitte give some examples of European companies that tick all the boxes and show exciting growth potential.
How to invest
You can invest in our funds via a number of fund platforms.
Please note that we do not have the facility for you to invest directly with us in our Investment Trusts and we do not offer ISAs, SIPPS or Share Plans.
Please also note that we do not have an online service for individual investors.
Further information on our funds can be found in the relevant Key Information and Prospectus Documents, which are available in English and will be sent to you free of charge on request.
Baillie Gifford does not sponsor, maintain or have any control over the content of any other websites. Therefore, we are not responsible for the adequacy or accuracy of any of the information you may view, nor do we undertake to ensure successful transmission to any linked website.
Investment platforms
Getting financial advice
At Baillie Gifford we don’t provide financial advice, but we do try our best to provide you with all the information we think you might need to make investment decisions. Of course, we realise there are occasions when you may want the advice of an expert.
Using professional financial advice
An authorised intermediary can give you advice and help on how best to manage your financial affairs based on your circumstances and investment aspirations. They can also help keep track of all your different investment interests, saving you a lot of time and bookkeeping.
Finding a financial adviser near you
If you want to use an authorised intermediary, Unbiased is a website that allows you to search for authorised intermediaries in your area. You can visit their site on www.unbiased.co.uk
AGM and voting
When you invest in an investment trust you become a shareholder and have a say on how the Company is run. You also have a right to attend the Company's annual general meeting (AGM).
How to vote
The following link will take you through to The Association of Investment Trusts' (AIC) website where there is information on how to vote your shares if you hold them via one of the major platforms.
How to attend the AGM
If you hold your shares through a platform, it is not always obvious how to attend an AGM. The following link will take you through to The Association of Investment Trusts’ (AIC) website where there is information on how your platform can help you attend this important shareholder meeting. If you do not see your provider listed, please contact your provider directly and ask them to assist.
Baillie Gifford European Growth Trust corporate calendar
Our corporate calendar provides details of the regulatory events that occur over the year. This includes dates for reports, results, dividend payments and the AGM.
| Event | Month (each year) |
| Final results announced | December |
| Interim results announced | May |
| Financial year end date | 30 September |
| Annual general meeting | February |
| Dividends payable | February |
AGM
Baillie Gifford European Growth Trust's annual general meeting (AGM) was held on Wednesday 5 February 2025. You can read a summary of the results of the voting on AGM resolutions here.
Voting
A breakdown of the votes cast by Baillie Gifford over the previous quarter on behalf of the investment trust is available in the Proxy voting disclosure.
Registrar
Computershare Investor Services PLC maintains the share register on behalf of the Company. Queries regarding shares registered in your own name can be directed to:
Computershare Investor Service PLC,
The Pavilions,
Bridgwater Road,
Bristol,
BS99 6ZZ
T: +44 (0)370 889 4086
Documents
You can access any literature about the Fund here.
To download any document you will need Adobe Reader. Please note that we can now provide you with Braille and audio transcriptions of our literature on request. It may take up to 10 days for the transcription to be completed dependent on the size of the document.