The Baillie Gifford US Growth Trust has updated investors on its performance and portfolio composition.
As of today, 10 August, the trust is trading at 156p per share, representing a 17.6% discount to its net asset value.
During the financial year to 31 May 2023, the trust’s share price and net asset value returned -13.8% and -2.7% respectively, Baillie Gifford reported. Over this period, the S&P 500 delivered a total return of 4.7%.
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Since the March 2018 launch up to 31 May 2023, the share price and NAV has returned 44.1% and 90.4% respectively, versus 102% for the S&P 500, in sterling terms.
Turnover in the portfolio over the financial year was 7.1%. Baillie Gifford said the trust has sold Peloton, Teladoc, Appian, Butterfly Network, Carvana and First Republic in the period.
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It added three listed holdings to the portfolio; Roblox, Sweetgreen and Doximity.
At 31 May the trust held 25 private company investments which collectively compromised 34.5% of total assets. In the year, the company made one additional private company investment, consumer tech platform Oddity.
The investment trust is managed by Gary Robinson and has total assets of £608.9m, before deduction of loans of £40.3m.
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