Fund Profile

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Baillie Gifford is a client of Kepler Trust Intelligence. Material produced by Kepler Trust Intelligence should be considered as factual information only and not an indication as to the desirability or appropriateness of investing in the security or securities discussed.

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Overview
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Overview

The principal aim of Monks is to deliver long-term capital growth, through a differentiated, actively managed global equity portfolio. The managers utilise a rigorous bottom up investment process, seeking out growth stocks which they envisage will offer above average earnings growth. In order to achieve this a long-term view is taken, ensuring that the fundamental attributes of the company are given ample time to drive returns.

Diversification is a key attribute of the portfolio, and constituents are split into four growth categories based on the type of growth that the managers anticipate the company delivering. Investments are also split into three broad holding sizes allowing the managers to back their judgement in the stocks for which they have greater conviction, and to embrace the potential for asymmetry of returns through positions in higher risk/return stocks.

Although the portfolio has an extremely high active share (92%), since the new managers took over the portfolio in 2015, the performance has been largely in line with the peer group and the FTSE World. With that said, trust has been able to pull away from the benchmark (+10.9% outperformance) and the peer group (3.6%) over the full three and a half years. Over 2018 (as with most trusts) the company has generated strong returns for the majority of the year, before losing most of the gains at the latter end of the year. More specifically, over the 11-month period, trust has delivered 0.1% returns, marginally behind both the FTSE World (+0.6%) and the Morningstar IT Global peer group (+1.3%).

Currently Monks is trading at premium (2.7%), relative to the sector weighted average discount of -2.6%.

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Fund History

17 Jun 2022 Baillie Gifford Monks Investment Trust: Growth investing in a changing world
In this recent webinar, manager of the Monks Investment Trust, Spencer Adair, outlines how the trust seeks to harness growth in an ever-changing world...
06 May 2022 Casting the net wider
Growth stocks are becoming more diverse, meaning stock-pickers need to embrace the unfamiliar, Spencer Adair, manager of The Monks Investment Trust, tells Ian McGugan...
12 Nov 2021 Virtuous cycles
From Ryanair to Rio Tinto, firms that suffer through tough times often resurface as big long-term winners. Spencer Adair, manager of The Monks Investment Trust, reveals what turns these stocks into comeback kings
08 Oct 2021 Baillie Gifford Monks Investment Trust - Manager Insights
Baillie Gifford investment manager Spencer Adair and client director John Carnegie review the portfolio’s performance and hone in on Tesla, Moderna and Sea, as well as its Chinese holdings...
19 Aug 2021 Pandemic immunity
We ask which global equity trusts have outperformed through the different stages of the pandemic…
05 Feb 2020 The best form of defence
We look at the continued rise of passive funds, and find out how investment trust managers are countering it...
23 Dec 2019 Insuring Asia
The extraordinary expansion of Asia’s middle class is turbocharging demand for products that provide a sense of security. Charles Plowden, manager of Monks Investment Trust, tells Colin Donald why the region’s life insurance giants are well-placed to reap the rewards...
23 Oct 2019 Sail away: the best trusts to escape the UK
We look under the hoods of Global sector trusts to see which offer the best diversification prospects for UK investors...
24 Jul 2019 Fund Analysis
Monks offers a highly active approach to investing in global equities...
13 Dec 2018 Fund Analysis
Diversification is a key attribute of the portfolio, with the managers focusing on the type of growth they anticipate each company delivering...
12 Oct 2017 Roaring back…
We analyse the drivers behind the significant outperformance of global active managers in 2017, following what was a very poor year for them in 2016...
09 Aug 2017 Fund Analysis
A growth oriented portfolio with a dull long term record, which has witnessed a significant reversal in fortunes thanks its new highly-regarded management team
28 Feb 2017 Don’t wanna be an American idiot…
After such a chaotic start to Donald Trump's presidency, we look at potential options for investors in the US equity space...
22 Feb 2017 Into the wilderness...
In this detailed study of the global equity sectors, we analyse how managers are positioned in a world of high valuations and seismic political changes...
03 Feb 2017 Analysis: What next for European ITs?
Our analysis shows that European investment trusts have in recent years delivered strong returns to investors from their current discount, but risks abound in 2017...
17 Nov 2016 Hunting for growth in a dysfunctional market...
Monks Investment Trust's Charles Plowden, Malcolm MacColl and Spencer Adair explain their approach...
05 Oct 2016 Analysis - Going global
As the prospect of a messy divorce from the EU becomes increasingly real, we look at ways to diversify your portfolio away from the UK...
08 Dec 2015 A close up on Monks...
Monks investment trust continues to trade on a wider discount than most of the trusts in its sector, despite the overhaul of its portfolio and encouraging interim results last week...
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