Baillie Gifford European Growth

[Avantegarde]

What do you make of this trust, if anything? It used to be the European Investment Trust. Last year the board got fed up with the previous managers' poor performance, sacked them and brought BG on board to manage the investments from the end of November 2019. Since then almost the entire portfolio has been changed with only Ryanair of the previous portfolio surviving the chop and 40 new investments being bought. The new portfolio seems to have taken off like a rocket, with NAV up 24% in the past year and share price up 38%. The investment approach is unusual in that "The managers invest in high quality, well managed businesses that are able to grow significantly and which typically have a strong competitive position and are managed by owner-operators. The portfolio is relatively concentrated with between 30 - 60 listed and unlisted stocks." My italics. The current portfolio has 27% in Sweden, 19% in Germany and 18% in the Netherlands. Here is the factsheet: http://documents.financialexpress.net/L ... 552833.pdf Any opinions?

[richfool]

What do you make of this trust, if anything? It used to be the European Investment Trust. Last year the board got fed up with the previous managers' poor performance, sacked them and brought BG on board to manage the investments from the end of November 2019. Since then almost the entire portfolio has been changed with only Ryanair of the previous portfolio surviving the chop and 40 new investments being bought. The new portfolio seems to have taken off like a rocket, with NAV up 24% in the past year and share price up 38%. The investment approach is unusual in that "The managers invest in high quality, well managed businesses that are able to grow significantly and which typically have a strong competitive position and are managed by owner-operators. The portfolio is relatively concentrated with between 30 - 60 listed and unlisted stocks." My italics. The current portfolio has 27% in Sweden, 19% in Germany and 18% in the Netherlands. Here is the factsheet: http://documents.financialexpress.net/L ... 552833.pdf Any opinions?

I bought into BGEU back in July, as part of my move towards growthier IT's. (Baillie Gifford stable). Performance over the last year looks good. Dividend yield: 2.7%. I also added BRGE (Blackrock Greater European trust) and reduced my holding of JETI.

I did a similar thing with US trusts, reducing income trust holdings and increasing growth trusts (NAIT went in favour of USA & JAM).

[jonesa1]

Dividend yield: 2.7%.

Not any longer, this is now a full-on growth fund. I'm sure I read (or saw on a video, can't find the source at the moment) that the new managers will pay out the minimum dividend that allows them to retain IT status.

[Dod101]

All of that is very Baillie Gifford. They are very dedicated mostly to growth and have been winning mandates with that in mind recently. See also BG taking on Witan Pacific and planning to rename it Baillie Gifford China Growth Trust.

Dod

[Avantegarde]

All of that is very Baillie Gifford. They are very dedicated mostly to growth and have been winning mandates with that in mind recently. See also BG taking on Witan Pacific and planning to rename it Baillie Gifford China Growth Trust.

Dod

Some Baillie Gifford ITs are doing very well at the moment, some spectacularly so. Here are the 1-year total returns for some of those on which I keep an eye, or own:
European Growth 57%.
Shin Nippon 15%.
UK Growth 6%.
US Growth 67%.
Pacific Horizon 77%.
Scottish American 7%.
Edinburgh Worldwide 77%.
Scottish Mortgage 86%.

All stats from the AIC as of today. All the usual caveats may apply.

[Avantegarde]

What do you make of this trust, if anything? It used to be the European Investment Trust. Last year the board got fed up with the previous managers' poor performance, sacked them and brought BG on board to manage the investments from the end of November 2019. Since then almost the entire portfolio has been changed with only Ryanair of the previous portfolio surviving the chop and 40 new investments being bought. The new portfolio seems to have taken off like a rocket, with NAV up 24% in the past year and share price up 38%. The investment approach is unusual in that "The managers invest in high quality, well managed businesses that are able to grow significantly and which typically have a strong competitive position and are managed by owner-operators. The portfolio is relatively concentrated with between 30 - 60 listed and unlisted stocks." My italics. The current portfolio has 27% in Sweden, 19% in Germany and 18% in the Netherlands. Here is the factsheet: http://documents.financialexpress.net/L ... 552833.pdf Any opinions?

Sorry, those figures were for the 3-year return. The more relevant 1-year return is 37% NAV and 57% share price total return.