A devoted and consistent research effort

An investment culture of open-mindedness and the willingness to take risks and back conviction has led CFS FC Baillie Gifford Long Term Global Growth to win the Global Equities award at the 2021 Money Management’s Fund Manager of the Year Awards. 

The award judges said the fund’s strategy was led by a historically highly stable core group of experienced investors who were all partners in the firm.

“Differentiated long-term, concentrated, high growth equity investment style that has been consistently applied through time. The strategy’s performance has been strong, albeit having benefited from a tailwind assisting the manager’s ‘growth’ style,” the judges said.

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“We like the fact that Baillie Gifford has a consistent philosophy across the firm and the firm’s research effort is devoted to this; there is no distraction of having to find ideas that meet the needs of different philosophies nor competition for resources. This facilitates a truly collaborative, long-term culture across the firm.”

Commenting on the win, CFS head of investment sales, George Walker, said the fund’s long-term investment philosophy, investment strategy and longevity came to the fore last year during a period of extreme change.

“The team works from a so-called ‘10 question stock research framework’ that identifies key attributes within companies including exceptional long-term opportunities, visionary leadership and adaptability, loyal stakeholders as well as strong governance, financial strengths and extreme payoffs,” he said.

“The Long Term Global Growth fund prides its self on running winners, and in Tesla, Amazon, Tencent and others is exactly what has been achieved for years. The result is that in 2020, 10% of the portfolio alone was recycled out of Tesla into new stocks. 

“In response to the strong performance last year the team has trimmed some holdings and reinvested into eight new ones. The holdings ranged from areas such as video streaming and digital payments through to innovative companies re-imagining the future of food.”

Hyperion Global Growth Companies fund was given a ‘highly commended’ by judges thanks to its clear philosophy, disciplined process and concentrated portfolios.

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