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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
Buyside Digest is not affiliated with, and does not endorse, Baillie Gifford -Emerging Markets. This analysis is provided for institutional research purposes only and is not investment advice.
"The fund delivered an impressive 40.69% 1-year return, driven by AI-fueled semiconductor strength and commodities. The managers are actively capitalizing on deep EM valuation discounts, adding to structural growth leaders while trimming extended holdings."
The Baillie Gifford Emerging Markets Equities Fund posted a strong Q4 2025, bringing 1-year returns for the K Class to 40.69%, outperforming the MSCI Emerging Markets Index's 34.36%. Performance was anchored by semiconductor giants Samsung and SK Hynix, alongside strong commodity holdings. The managers remain highly constructive on Emerging Markets, citing significant valuation discounts compared to developed peers. During the quarter, the fund active-managed exposure by trimming high-flying AI and commodity stocks, initiating new positions in Capitec Bank, Emaar Properties, InterGlobe Aviation, and Montage Technology, and completely exiting KE Holdings and Li Ning.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: The fund delivered an impressive 40.69% 1-year return, driven by AI-fueled semiconductor strength and commodities. The managers are actively capitalizing on deep EM valuation disco...
Growth Outlook
Market outlook remains high conviction: The fund delivered an impressive 40.69% 1-year return, driven by AI-fueled semiconductor strength and commodities. The managers are actively capitalizing on deep EM valuation disco...
Risk Appetite
Risk appetite posture is above average conviction: The fund delivered an impressive 40.69% 1-year return, driven by AI-fueled semiconductor strength and commodities. The managers are actively capitalizing on deep EM valuation disco...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. The fund delivered an impressive 40.69% 1-year return, driven by AI-fueled semiconductor strength and commodities. The managers are actively capitalizing on deep EM valuation disco...
Forward Guidance
Forward guidance signal: The fund delivered an impressive 40.69% 1-year return, driven by AI-fueled semiconductor strength and commodities. The managers are actively capitalizing on deep EM valuation disco...
Language Signal
Tone analysis indicates high conviction language: The fund delivered an impressive 40.69% 1-year return, driven by AI-fueled semiconductor strength and commodities. The managers are actively capitalizing on deep EM valuation disco...
Perceived Risk
Perceived risk level is evaluated as moderate conviction. The fund delivered an impressive 40.69% 1-year return, driven by AI-fueled semiconductor strength and commodities. The managers are actively capitalizing on deep EM valuation disco...
Opportunity Density
Opportunity density index indicates high conviction actionable entry points. The fund delivered an impressive 40.69% 1-year return, driven by AI-fueled semiconductor strength and commodities. The managers are actively capitalizing on deep EM valuation disco...
Time Horizon
Investment time horizon reflects a high conviction orientation. The fund delivered an impressive 40.69% 1-year return, driven by AI-fueled semiconductor strength and commodities. The managers are actively capitalizing on deep EM valuation disco...
