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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 -International Growth. This analysis is provided for institutional research purposes only and is not investment advice.
"The fund experienced modest gains of 3.38% in Q3 2025, underperforming its benchmark due to transient pullbacks in key growth holdings, while adding new exposure to global leaders in EV batteries and biotechnology."
During the third quarter of 2025, the Baillie Gifford International Growth Fund (Institutional Class) underperformed its MSCI ACWI ex US Index benchmark, posting a gain of 3.38% versus the benchmark's 7.03%. The relative underperformance was driven by near-term guidance issues and trade margin headwinds at major positions Spotify, Adyen, and MercadoLibre. Meanwhile, semiconductor supply chain enablers Advantest and ASML performed strongly. The fund initiated new positions in CATL and Akeso, funded through reductions in existing high-performing holdings, with no full exits.
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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 experienced modest gains of 3.38% in Q3 2025, underperforming its benchmark due to transient pullbacks in key growth holdings, while adding new exposure to global leaders ...
Growth Outlook
Market outlook remains above average conviction: The fund experienced modest gains of 3.38% in Q3 2025, underperforming its benchmark due to transient pullbacks in key growth holdings, while adding new exposure to global leaders ...
Risk Appetite
Risk appetite posture is above average conviction: The fund experienced modest gains of 3.38% in Q3 2025, underperforming its benchmark due to transient pullbacks in key growth holdings, while adding new exposure to global leaders ...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. The fund experienced modest gains of 3.38% in Q3 2025, underperforming its benchmark due to transient pullbacks in key growth holdings, while adding new exposure to global leaders ...
Forward Guidance
Forward guidance signal: The fund experienced modest gains of 3.38% in Q3 2025, underperforming its benchmark due to transient pullbacks in key growth holdings, while adding new exposure to global leaders ...
Language Signal
Tone analysis indicates above average conviction language: The fund experienced modest gains of 3.38% in Q3 2025, underperforming its benchmark due to transient pullbacks in key growth holdings, while adding new exposure to global leaders ...
Perceived Risk
Perceived risk level is evaluated as moderate conviction. The fund experienced modest gains of 3.38% in Q3 2025, underperforming its benchmark due to transient pullbacks in key growth holdings, while adding new exposure to global leaders ...
Opportunity Density
Opportunity density index indicates above average conviction actionable entry points. The fund experienced modest gains of 3.38% in Q3 2025, underperforming its benchmark due to transient pullbacks in key growth holdings, while adding new exposure to global leaders ...
Time Horizon
Investment time horizon reflects a high conviction orientation. The fund experienced modest gains of 3.38% in Q3 2025, underperforming its benchmark due to transient pullbacks in key growth holdings, while adding new exposure to global leaders ...
