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Stock Analysis & ValuationBaillie Gifford UK Growth Trust plc (BGUK.L)

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Previous Close
£207.00
Sector Valuation Confidence Level
High
Valuation methodValue, £Upside, %
Artificial intelligence (AI)136.13-34
Intrinsic value (DCF)82.89-60
Graham-Dodd Method1.59-99
Graham Formula51.39-75

Strategic Investment Analysis

Company Overview

Baillie Gifford UK Growth Trust plc (BGUK.L) is a closed-ended equity mutual fund managed by Schroder Unit Trusts Ltd and co-managed by Schroder Investment Management Limited. Focused on the UK public equity markets, the fund invests primarily in value stocks of large and mid-cap companies across diversified sectors. The fund benchmarks its performance against the FTSE All Share (Total Return) Index, aiming to deliver long-term capital growth for investors. Established in 1994 and domiciled in the UK, Baillie Gifford UK Growth Trust plc leverages the expertise of its managers to identify undervalued opportunities in the UK market. With a market capitalization of approximately £252 million, the fund is a notable player in the UK asset management sector, appealing to investors seeking exposure to UK equities with a growth-oriented strategy. The fund's disciplined investment approach and focus on value stocks position it as a compelling option in the competitive financial services landscape.

Investment Summary

Baillie Gifford UK Growth Trust plc offers investors exposure to a diversified portfolio of UK large and mid-cap value stocks, aiming for long-term capital growth. The fund's performance is benchmarked against the FTSE All Share (Total Return) Index, providing a clear metric for evaluation. With a market cap of £252 million and a beta of 0.981, the fund exhibits moderate volatility relative to the market. The fund's revenue of £3.5 million and net income of £389,000 reflect its operational efficiency, while a dividend yield of 5.6 GBp per share adds income potential. However, the fund's reliance on UK equities exposes it to regional economic risks, including Brexit-related uncertainties and domestic market fluctuations. Investors should weigh the fund's value-oriented strategy and management expertise against these macroeconomic risks.

Competitive Analysis

Baillie Gifford UK Growth Trust plc competes in the crowded UK asset management sector, where differentiation often hinges on investment strategy, performance, and management expertise. The fund's focus on value stocks in the UK large and mid-cap space sets it apart from growth-oriented or global equity funds. Its benchmark, the FTSE All Share (Total Return) Index, provides a transparent performance metric, appealing to investors seeking UK market exposure. The fund's co-management by Schroder Investment Management Limited adds credibility, leveraging Schroders' extensive resources and research capabilities. However, the fund faces stiff competition from both active and passive investment vehicles, including ETFs tracking the same index. Its closed-ended structure may limit liquidity compared to open-ended funds, though this can also reduce the impact of investor redemptions on performance. The fund's moderate beta suggests it is less volatile than the broader market, which could attract risk-averse investors. Overall, Baillie Gifford UK Growth Trust plc's competitive advantage lies in its specialized focus on UK value stocks and the reputational strength of its managers.

Major Competitors

  • Scottish Mortgage Investment Trust plc (SMT.L): Scottish Mortgage Investment Trust plc is a leading UK investment trust with a global focus, contrasting with Baillie Gifford UK Growth Trust's domestic emphasis. SMT.L invests in high-growth companies worldwide, including tech giants and innovative startups, offering higher growth potential but also greater volatility. Its open-ended structure provides liquidity advantages, though it may face redemption pressures during market downturns.
  • F&C Investment Trust plc (FCIT.L): F&C Investment Trust plc is one of the oldest and largest investment trusts in the UK, with a diversified global portfolio. Unlike Baillie Gifford UK Growth Trust, FCIT.L offers broader geographic and sector exposure, reducing reliance on the UK market. Its long track record and size provide stability, but its global focus may dilute returns from UK-specific opportunities.
  • Mid Wynd International Investment Trust plc (MWY.L): Mid Wynd International Investment Trust plc focuses on global equities with a growth-oriented strategy, differing from Baillie Gifford UK Growth Trust's value approach. MWY.L's international diversification reduces UK-centric risks but may miss out on domestic value opportunities. Its smaller size allows for more agile investments but may lack the scale of larger trusts.
  • The Unicorn UK Smaller Companies Investment Trust plc (UTG.L): The Unicorn UK Smaller Companies Investment Trust plc specializes in UK small-cap stocks, offering higher growth potential but also greater risk compared to Baillie Gifford UK Growth Trust's large and mid-cap focus. UTG.L's niche strategy appeals to investors seeking aggressive growth, though it may underperform during market downturns due to its smaller-cap bias.
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