Baillie Gifford American
Tom Slater has jumped ahead of his Baillie Gifford American AA-rated co-managers Gary Robinson and Helen Xiong to become AAA-rated.
Slater’s promotion was helped by his work on the Baillie Gifford Long-Term Global Growth fund, a fund for US investors managed along the same lines as the Scottish Mortgage (SMT) investment trust, and the Baillie Gifford US Equity Growth fund, which is a version of the Baillie Gifford American fund available to US investors.
The Baillie Gifford American fund has racked up a stellar performance, topping the Investment Association’s North America sector over both three and five years, up 107.7% and 156.9% respectively.
The £1.9 billion growth-focused fund, whose biggest holding is in Amazon (AMZN.O), was hit hard by the sell off last October but the team still believes ‘the world’s most largest and most innovative economy will continue to create many of the world’s most exciting growth companies; companies that exhibit a distinctive culture, large growth opportunity, and sustainable competitive advantage’.
In particular, the fund bought into a number of healthcare stocks last year, as ‘there is huge unmet need in healthcare, and there is lots of room for improvement’. This includes new holdings in Denali Therapeutics (DNLI.O), which is looking for cures for neurodegenerative disorders like Alzheimer’s, tumour therapy company Novocure (NVCR.O), and medical devices group Penumbra (PEN.N).