Fund closure and payment of Termination Proceeds
This Fund closed on 27 February 2026.
Termination Proceeds were paid to shareholders on 4 March 2026.
For further details please refer to the shareholder letter or contact us at: Client Relations Team, Baillie Gifford & Co Limited, Calton Square, 1 Greenside Row, Edinburgh EH1 3AN. Alternatively, please call 0800 917 2113* or email us at enquiries@bailliegifford.com.
*Calls may be recorded for training or monitoring purposes.
Overview
Fund objective
The Sterling Aggregate Bond Fund aims to outperform (after deduction of costs) an index comprising 50% of the FTSE Actuaries UK Conventional Gilts All Stocks Index and 50% of the ICE Bank of America Sterling Non-Gilt Index by 0.65% per annum over rolling three-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 Sterling Strategic Bond 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
Share price and charges
Share class
B, AccPrice
120.75p% change
-0.29%Ex-dividend (XD)
XOngoing charges*
0.42%Initial charge
0.00%Minimum investment
£100,000Minimum top up
£1,000Fund facts
Fund launch date
4 November 2015
Fund size
£12,634.00
The Investment Association sector
£ Strategic Bond
Comparative Index
50% of the FTSE Actuaries UK Conventional Gilts All Stock Index and of the 50% BofA Sterling Non-Gilts Index
Current number of issuers
0
Style
Income
XD Date
Last day of December, March, June and September each year
Distribution
Last day of February, May, August and November each year
Pricing
Valuation point 10am daily, swinging single price
Fund settlement cycle
Trade date plus three business days (T+3)
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:
Market Conditions/Liquidity
Market values for illiquid securities which are difficult to trade may not be readily available and there can be no assurance that any value assigned to such securities will accurately reflect the price the Fund might receive upon their sale. In certain circumstances it can be difficult to buy or sell the Fund's holdings and even small purchases or sales can cause their prices to move significantly, affecting the value of the Fund and the price of shares in the Fund.
Custody
Custody of assets involves a risk of loss if a custodian becomes insolvent or breaches duties of care.
Bonds & Inflation
Bonds issued by companies and governments may be adversely affected by changes in interest rates, expectations of inflation and a decline in the creditworthiness of the bond issuer. The issuers of bonds in which the Fund invests may not be able to pay the bond income as promised or could fail to repay the capital amount.
Concentration
The Fund's concentrated portfolio relative to similar funds may result in large movements in the share price in the short term.
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.
Derivatives
Derivatives may be used to obtain, increase or reduce exposure to assets and may result in the Fund being leveraged. This may result in greater movements (down or up) in the price of shares in the Fund. It is not our intention that the use of derivatives will significantly alter the overall risk profile of the Fund.
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.
Fees to Capital
The manager can charge some, or all, expenses to the Fund’s capital, reducing its value. This amount can vary from year to year.
Government and Public Securities
More than 35% of scheme property may be invested in securities issued or guaranteed by Governments and / or other organisations worldwide. For further details please see the Prospectus.
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
Fund performance
Periodic performance
As at: 28 February 2026
1 Month | 3 Months | 6 Months | 1 Year | 3 Years | 5 Years | |
|---|---|---|---|---|---|---|
Class B-Acc | n/a | n/a | n/a | n/a | n/a | n/a |
Index* | 1.8% | 2.2% | 5.5% | 6.2% | 4.3% | -1.8% |
Target Benchmark** | 1.9% | 2.4% | 5.9% | 6.9% | 5.0% | -1.1% |
Sector Average*** | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
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 | -3.6% | -22.0% | 7.2% | -0.2% | 8.9% |
Index* | -4.1% | -20.8% | 6.1% | -0.8% | 5.9% |
Target Benchmark** | -3.5% | -20.3% | 6.8% | -0.1% | 6.6% |
Sector Average*** | 0.8% | -11.0% | 7.8% | 4.6% | 7.0% |
Fund portfolio holdings
The list of top 10 holdings that this fund invests in.
Insights
Key articles, videos and podcasts relating to the fund:
Filters
Insights
Investing in UK water
The companies transforming the UK’s water infrastructure.
Legally bond: finding underestimated resilience
By keeping an open mind, we hope to find opportunities other credit investors might overlook.
Re-awakening utilities
Utility companies which can adapt to climate change and the shift to renewables bring the best chance of returns.
Investing in UK water
The companies transforming the UK’s water infrastructure.Legally bond: finding underestimated resilience
By keeping an open mind, we hope to find opportunities other credit investors might overlook.Re-awakening utilities
Utility companies which can adapt to climate change and the shift to renewables bring the best chance of returns.
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
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.