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Baillie Gifford Long Term Global Growth (BSGLX)

edited August 4 in Fund Discussions
Hello,

Per David's article, I researched BSGLX and it seems not being available through any of the brokers. I have Fidelity, Schwab and Vanguard and none allow to buy/ hold the fund for a "retail investor." Does anyone know if other brokers are allowing purchasing this fund?

Thank you

Comments

  • Would BSGKX do it for you?
  • I believe that you can buy the fund through Fidelity BUT.....

    There is a transaction fee and this alert on the Fidelity site:

    "Please call a Fidelity Representative at 1-800-544-6666 to buy this fund."

    At least that's the info I received when I searched the fund. Also search (research) the fund by its name and not its ticker symbol. For whatever reason Fidelity acts like it's nonexistent if you use the latter.
  • For a long time, Morningstar shared complete brokerage availability listings with us each month. With the departure of a really good soul, they reconsidered and cut us off. (An entirely understandable business decision.) As a result, I don't have current availability data.

    That said, BG seems to have limited availability. The institutional class shares are more widely available than retail, but even with those there's an inconsistency between my reading of Morningstar and my reading of the actual brokerage sites.

    I've reached out to BG's media relations firm, asking about where their funds are distributed and whether the channels might broaden. So far, no response but I intend to poke again tomorrow.

    More soon,

    David
  • edited August 6
    I purchased Baillie Gifford's 'The Emerging Markets Fund Instl' (BGEGX) from Fidelity on 01/02/2019.
    The following Baillie Gifford funds (and possibly others) were available from Fidelity as of 01/31/2019:

    International
    EAFE Choice Fund
    EAFE Fund Class I
    EAFE Pure Fund
    International Equity
    Global Select Equity
    Positive Change
    Global Alpha Equity
    Long Term Global
    Emerging Markets
    U.S. Equity Growth

    Fidelity's 'Mutual Funds Research' tool did not include these Baillie Gifford funds one or two months later.
    I assumed issues arose with the distribution agreement.
  • Per M*, but not sure if it's current/accurate:

    Brokerage Availability BSGLX

    Allowab (non-advisory)
    Fidelity Institutional FundsNetwork
    Cetera Advisor Networks LLC
    Morgan Stanley Select UMA
    Cetera Advisor Networks LLC- PAM, PRIME, Premier
    Raymond James
    Cetera Advisors LLC- PAM, PRIME, Premier
    Raymond James WRAP Eligible
    Cetera Financial Specialists LLC- Premier
    Schwab All (Retail, Instl, Retirement)
    Commonwealth (PPS Access Program)
    Schwab Institutional
    Commonwealth (PPS/Advisory)
    Schwab Institutional Only
    Commonwealth Universe
    TD Ameritrade Institutional

  • N8JUC said:

    Would BSGKX do it for you?

    This is actually a pretty good fund, not a single losing year. Than kyou

  • Mark said:

    I believe that you can buy the fund through Fidelity BUT.....

    There is a transaction fee and this alert on the Fidelity site:

    "Please call a Fidelity Representative at 1-800-544-6666 to buy this fund."

    At least that's the info I received when I searched the fund. Also search (research) the fund by its name and not its ticker symbol. For whatever reason Fidelity acts like it's nonexistent if you use the latter.

    Yes, same here, it says to call.
  • I called fidelity and they said it was not available to retail folks at this time, only institutions. Even though I hold other institutional shares at fidelity I had no luck on Baillie Gifford.
  • This fund has an average p-e ratio of 45 according to Morningstar. I would be very curious to see how it performs in a rising interest rate environment.
  • For those with a Vanguard account, Baillie Gifford co-manages VWILX (Admiral shares). Although the fund has underperformed the last 6 months (probably China holdings) it does have an outstanding long term record.
  • We have had the discussion on Baillie Gifford awhile back. @msf provided a detailed analysis on Baillie Gifford investment approaches. For retail investors, there are two vehicles available:

    Vanguard International Growth, VWILX. Baillie Gifford managed by BG 2/3 of the fund and Schroeder manages the other 1/3. BG side uses a concentrated approach sizable exposure to emerging market, particularly China. Plus side is low expense ratio. This fund is available as a transaction fee fund with Fidelity.

    Harbor International Growth, HAIGX, more diversified approach with a different set of BG fund managers. Institutional share, $50K min and transaction fee required.
  • msf
    edited August 15
    The two Schroeder managers on VWILX comprise the management for SCIEX. The three B-G managers on VWILX are the three longest tenure (of five) managing BGESX. One of those, Anderson, also co-managed BSGLX from inception until a year ago.

    So if I were to try to gauge VWILX based on its management, I'd compare it to a 70/30 mix of BGESX (not BSGLX) and SCIEX. That's important because BSGLX is a global fund (slightly over half is domestic), while the other funds are foreign: BGESX 94% foreign, SCIEX 96%, and VWILX 86%.

    I ran a quick instant X-ray with 50% VWILX, 35% BGESX, and 15% SCIEX and looked at stock intersections. It pretty well verified that VWILX is close to a 70/30 mix of the other two funds. A couple of notable stocks that VWILX has that the others don't are Moderna (MRNA) and Tesla (TSLA).

    Independent of which funds VWILX is approximating, its high allocation to Chinese stocks doesn't seem to be the root of its relative underperformance. BSGLX has a 25% stake in China (virtually all its Asian holdings) and has done far better YTD than VWILX, which has "only" 17.6% in China.

    Since these funds are in different categories, it helps additionally to note that VWILX's China holdings are about 10% above its peers (i.e. its peers hold 7.7%), while BGSLX's China holdings are a whopping 20% above its peers. Each fund ranks around 80th percentile in its respective category YTD.
  • msf, in your last two paragraphs, I think you meant VWILX and not VWINX.

    Mona
  • Thanks. Corrected. (I'd already corrected my transposition errors - those are easy to find because then the ticker doesn't represent a real fund.)
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