Capital at risk

UK OEIC

International Fund

Share class

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Overview

Fund objective

The International Fund aims to outperform (after deduction of costs) the MSCI ACWI ex UK Index, as stated in sterling, over rolling five-year periods.

The manager believes this is an appropriate benchmark given the investment policy of the Fund and the approach taken by the manager when investing. In addition, the manager believes an appropriate performance comparison for this Fund is the Investment Association Global Sector.

There is no guarantee that this objective will be achieved over any time period and actual investment returns may differ from this objective, particularly over shorter time periods.

Investment proposition

The Fund invests in an actively managed portfolio of stocks from around the world (excluding the UK) with the aim of delivering significantly higher total returns than the corresponding index before fees. We focus on companies which we believe offer above average profit growth and we invest with a long-term (five year) perspective. The Fund's four dedicated investment managers draw on a combination of their own investment ideas and those of our various investment teams to produce a portfolio that typically holds 70-120 stocks.

Share price and charges

Share class

B, Inc

Price

9232.00p

% change

-0.54%

Yield

0.1%

Ex-dividend (XD)

N

Ongoing charges*

0.59%

Initial charge

0%

Minimum investment

£100,000

Minimum top up

£1,000

Fund facts

As at: 28 February 2026

Fund launch date

1 July 1980

Fund size

£1,020.04m

The Investment Association sector

Global

Comparative Index

MSCI ACWI ex UK Index

Active share

80%**

Annual turnover

30%

Guideline number of holdings

70-120

Current number of holdings

84

Style

Growth

XD Date

Last day of January and July each year

Distribution

Last day of March and September each year

Pricing

Valuation point 10am daily, swinging single price

Fund settlement cycle

Trade date plus two business days (T+2)

**Relative to MSCI ACWI ex UK Index. Source: Baillie Gifford & Co, MSCI.

Ratings

As at: 31 January 2026

Morningstar Medalist Rating™

Morningstar Medalist Rating™ - Bronze

Morningstar Analyst data

Analyst-driven %

100

Data-coverage %

100

Meet the managers

Risk Warnings

Risk Introduction

Investment markets can go down as well as up and market conditions can change rapidly. The value of an investment in the Fund, and any income from it, can fall as well as rise and investors may not get back the amount invested. The specific risks associated with the Fund include:

Custody

Custody of assets, particularly in emerging markets, involves a risk of loss if a custodian becomes insolvent or breaches duties of care.

Emerging Markets

The Fund invests in emerging markets where difficulties in trading could arise, resulting in a negative impact on the value of your investment.

Foreign Currency

The Fund has exposure to foreign currencies and changes in the rates of exchange will cause the value of any investment, and income from it, to fall as well as rise and you may not get back the amount invested.

Volatility

The Fund's share price can be volatile due to movements in the prices of the underlying holdings and the basis on which the Fund is priced.

Further Information

Further details of the risks associated with investing in the Fund can be found in the Key Investor Information Document or the Prospectus, copies of which are available at bailliegifford.com.

Index disclaimer

Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

Contact us

Still have a question?  Please get in touch with us.

Fund performance

Periodic performance

As at: 28 February 2026

1 Month
3 Months
6 Months
1 Year
3 Years
5 Years
Class B-Acc
-1.0%
-0.6%
1.2%
7.7%
10.6%
3.3%
Index*
3.3%
3.6%
12.1%
16.4%
17.2%
13.0%
Sector Average**
3.2%
4.0%
9.7%
14.2%
12.2%
8.9%
Sector Ranking
548/585
471/584
498/580
406/570
319/501
391/438

Figures for 3 and 5 years are shown as the annualised rate of return. This is the average yearly return over the specified period.

Annual 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
Class B-Acc
8.4%
-20.4%
13.5%
12.7%
10.9%
Index*
20.2%
-8.2%
16.2%
20.5%
14.0%
Sector Average**
17.7%
-11.1%
12.7%
12.6%
11.2%

Contact us

Still have a question?  Please get in touch with us.

Fund portfolio holdings

The list of top 10 holdings that this fund invests in.

As at: 28 February 2026

#Holding% of total assets
1TSMC5.9%
2NVIDIA5.5%
3Alphabet3.4%
4Microsoft3.4%
5Amazon.com3.2%
6Meta Platforms2.9%
7Samsung Electronics2.9%
8Tencent2.6%
9Martin Marietta Materials2.4%
10Service Corporation International2.1%

Sector

As at: 28 February 2026

#
Sector
Fund %
Index % *
Difference %
1
Information Technology
27.2
27.0
0.2
2
Consumer Discretionary
13.3
9.7
3.5
3
Financials
12.2
16.6
-4.5
4
Industrials
11.7
11.7
0.1
5
Communication Services
10.7
8.7
2.1
6
Health Care
10.3
8.8
1.5
7
Materials
5.4
4.1
1.4
8
Energy
4.2
3.7
0.5
9
Consumer Staples
2.6
5.2
-2.6
10
Real Estate
1.8
1.9
-0.1
11
Cash
0.6
0.0
0.6
Total
100.0
97.3

Top 10 geographical locations

As at: 28 February 2026

#
Top 10 locations
Fund %
Index % *
Difference %
1
United States
60.8
63.8
-3.1
2
Taiwan
5.9
2.8
3.1
3
Japan
5.8
5.6
0.2
4
China
5.4
3.0
2.4
5
Brazil
4.0
0.6
3.4
6
Ireland
3.6
0.1
3.5
7
South Korea
2.9
2.3
0.6
8
Canada
2.4
3.2
-0.8
9
Sweden
1.4
0.9
0.5
10
France
1.1
2.5
-1.3
Total
93.2
84.8

Region

As at: 28 February 2026

#
Region
Fund %
Index % *
Difference %
1
North America
63.2
67.1
-3.9
2
Emerging Markets
20.7
12.5
8.2
3
Europe (ex UK)
9.8
12.4
-2.6
4
Developed Asia Pacific
5.8
8.1
-2.3
5
Cash
0.6
0.0
0.6
Total
100.0
100.0

Quarterly transactions

Transactions for the three-month period ending 31 March 2026

New purchases

  • Chugai Pharmaceutical
  • Credicorp
  • Dino Polska
  • EOG Resources
  • Eqt Corp
  • Freeport-Mcmoran Copper
  • Midea Group 'A'
  • Philip Morris
  • Poste Italiane SPA
  • SEB Bank
  • Tencent
  • United Overseas Bank

Complete sales

  • AJ Gallagher & Co
  • ASM International NV
  • Block Inc
  • Coupang
  • Epam Systems Inc
  • Floor & Decor Holdings
  • FTAI Aviation
  • Li Auto 'H'
  • PDD Holdings Inc
  • Prosus N.V.
  • Rakuten
  • Reliance Inds. GDR
  • S&P Global Inc
  • Salesforce.com
  • The Trade Desk
  • Walt Disney

Additions

  • Adyen NV
  • B3 S.A.
  • Brunswick Corp
  • Cosmos Pharmaceutical
  • Petrobras Common ADR
  • Samsara
  • Samsung Electronics
  • Shopify 'A'

Reductions

  • Amazon.com
  • CRH
  • Elevance Health Inc
  • Microsoft

Contact us

Still have a question?  Please get in touch with us.

Insights

Key articles, videos and podcasts relating to the fund:

Filters

Insights

Viewing 16 of 16
  1. Amazon: Stock Story

    Jon Henry gives three key reasons why tech giant Amazon remains a special investment.
    November 2025
    Video4 minutes
  2. SMC: Stock Story

    Sarah Clark explores how SMC powers automation with precision pneumatics with engineering excellence.
    November 2025
    Video0 minute
  3. Adyen: Stock Story

    Beatrice Faleri explores Adyen, the one-platform engine for unified commerce.
    November 2025
    Video4 minutes
  4. Alnylam: Stock Story

    Richie Vernon explores the revolutionary drugs transforming patient lives.
    April 2025
    Video3 minutes
  5. Cloudflare: Stock Story

    Ben James highlights how one cybersecurity approach is redefining digital infrastructure.
    March 2025
    Video4 minutes
  6. Nexans: Stock Story

    Lucy Haddow examines the sub-sea cable manufacturer crucial for the offshore wind and energy transition.
    March 2025
    Video3 minutes
  7. Atlas Copco: Stock Story

    Ben Drury explores how a culture of innovation and decentralisation drives success in industrial technology.
    March 2025
    Video3 minutes
  8. Moutai: Stock Story

    Ben Buckler investigates the Chinese brand dominating the global luxury drinks market.
    March 2025
    Video3 minutes
  9. Illustration of delivery cyclist with oversized leg muscles and passport stamps on his clothes

    DoorDash: delivering the goods

    How DoorDash’s ambitions extend far beyond restaurant deliveries.
    March 2025
    Article7 minutes
  10. A shepherd dog popping his head up from a sheep flock. Disguise, uniqueness and/or lost in the crowd concept

    Global Alpha insights: Rakuten and the 'Dog Shogun'

    Richie Vernon, investment specialist, explains why the Global Alpha Team has a different perspective on Rakuten's future market growth.
    October 2024
    Article4 minutes
  11. Eric Beinhocker: evolutionary economist

    How successful companies harness the power of adaptation.
    September 2024
    Article7 minutes
  12. Illustrated flat lay, with a large Moutai bottle taking centre stage, larger than the other things around it. Other things include ice cream, old style jars and different types of Moutai bottles.

    Kweichow Moutai: spirit of China

    The fiery spirit that’s a profitable symbol of Chinese culture and luxury.
    September 2024
    Article7 minutes
  13. Global Alpha: back to growth

    The managers tell a London Investment Forum about new sources of opportunity and optimism.
    March 2024
    Article6 minutes
  14. How Microsoft got its mojo back

    By shifting the focus from Windows and embracing AI, the firm has revitalised its fortunes.
    September 2023
    Article
  15. Nothing lasts forever

    Why international equity markets shouldn’t be forgotten.
    February 2023
    Article
  16. Inflation: analysing resilience

    Four ways to consider growth companies’ ability to deal with rising prices.
    October 2022
    Article

  1. Amazon: Stock Story

    Jon Henry gives three key reasons why tech giant Amazon remains a special investment.
    November 2025
    Video4 minutes
  2. SMC: Stock Story

    Sarah Clark explores how SMC powers automation with precision pneumatics with engineering excellence.
    November 2025
    Video0 minute
  3. Adyen: Stock Story

    Beatrice Faleri explores Adyen, the one-platform engine for unified commerce.
    November 2025
    Video4 minutes
  4. Alnylam: Stock Story

    Richie Vernon explores the revolutionary drugs transforming patient lives.
    April 2025
    Video3 minutes
  5. Cloudflare: Stock Story

    Ben James highlights how one cybersecurity approach is redefining digital infrastructure.
    March 2025
    Video4 minutes
  6. Nexans: Stock Story

    Lucy Haddow examines the sub-sea cable manufacturer crucial for the offshore wind and energy transition.
    March 2025
    Video3 minutes
  7. Atlas Copco: Stock Story

    Ben Drury explores how a culture of innovation and decentralisation drives success in industrial technology.
    March 2025
    Video3 minutes
  8. Moutai: Stock Story

    Ben Buckler investigates the Chinese brand dominating the global luxury drinks market.
    March 2025
    Video3 minutes
  9. Illustration of delivery cyclist with oversized leg muscles and passport stamps on his clothes

    DoorDash: delivering the goods

    How DoorDash’s ambitions extend far beyond restaurant deliveries.
    March 2025
    Article7 minutes
  10. A shepherd dog popping his head up from a sheep flock. Disguise, uniqueness and/or lost in the crowd concept

    Global Alpha insights: Rakuten and the 'Dog Shogun'

    Richie Vernon, investment specialist, explains why the Global Alpha Team has a different perspective on Rakuten's future market growth.
    October 2024
    Article4 minutes
  11. Eric Beinhocker: evolutionary economist

    How successful companies harness the power of adaptation.
    September 2024
    Article7 minutes
  12. Illustrated flat lay, with a large Moutai bottle taking centre stage, larger than the other things around it. Other things include ice cream, old style jars and different types of Moutai bottles.

    Kweichow Moutai: spirit of China

    The fiery spirit that’s a profitable symbol of Chinese culture and luxury.
    September 2024
    Article7 minutes
  13. Global Alpha: back to growth

    The managers tell a London Investment Forum about new sources of opportunity and optimism.
    March 2024
    Article6 minutes
  14. How Microsoft got its mojo back

    By shifting the focus from Windows and embracing AI, the firm has revitalised its fortunes.
    September 2023
    Article
  15. Nothing lasts forever

    Why international equity markets shouldn’t be forgotten.
    February 2023
    Article
  16. Inflation: analysing resilience

    Four ways to consider growth companies’ ability to deal with rising prices.
    October 2022
    Article

Contact us

Still have a question?  Please get in touch with us.

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.

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

Contact us

Still have a question?  Please get in touch with us.

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.

Contact us

Still have a question?  Please get in touch with us.