BGBKX — Baillie Gifford Multi Asset Fund

BGBKX Fund Overview

BGBKX — Baillie Gifford Multi Asset Fund is a US mutual fund managed by Baillie Gifford Funds, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Baillie Gifford Funds
• Category: Money Market
• Assets under management: $11.52M
• 1-year return: -9.3%
• Ticker: BGBKX
• SEC CIK: 0001120543
• SEC series ID: S000061764
• Share class ID: C000200019

BGBKX Investment Objective and Strategy

Baillie Gifford Multi Asset Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Baillie Gifford Funds.

Investment objective

The Multi Asset Fund seeks long-term capital growth at lower volatility than is typically associated with equity markets.

Principal investment strategy

"The Fund will seek to meet its objective by investing in a portfolio diversified across a broad range of asset classes, markets and instruments. The asset classes from which the Fund will select vary over time and, under normal circumstances, may include: Listed Equities The Fund may invest in common stocks, preferred stocks, convertible securities and warrants. The Fund may invest in issuers of any market capitalization and may participate in initial public offerings ( ""IPOs"" ). The Fund may invest in issuers located in emerging markets and frontier markets. Investment Grade and High Yield Credit The Fund may invest in high yield debt securities issued by companies rated below investment-grade and unrated securities of comparable credit quality (commonly known as ""high-yield bonds"" or ""junk bonds""), as well as debt securities issued by companies with investment-grade credit ratings.

Emerging and Developed Market Government Bonds The Fund may invest in bonds issued by governments of both developed and emerging market economies. These may be denominated in the currency of the issuing country, or some other currency such as U.S. dollars. Real Estate The Fund may seek exposure to commercial and residential property. Infrastructure Under normal circumstances, the Fund expects to gain exposure to infrastructure assets primarily through investments in equity or debt instruments issued by companies, including those in regulated industries, or government-backed projects involved in the provision of a broad range of essential public services such as schools, transport projects or energy generation. Structured Finance The Fund may invest in various securitized debt instruments to gain exposure to various asset classes such as, but not limited to, commercial or residential mortgages or corporate loans.

Such instruments will be regularly traded, rated tranches of collateralized loan obligations, mortgage-backed securities and asset-backed securities. Commodities The Fund may seek exposure to a variety of commodities, including industrial or precious metals and other energy or agricultural commodities. Absolute Return The Fund may make absolute-return-related investments, which include a wide range of instruments with low or negative correlation to broad economic or market risk, including volatility futures and other pooled investment vehicles employing managed futures or merger arbitrage strategies. Currencies The Fund may engage in active currency investing aimed at generating positive returns, as well as in currency hedging. Cash The Fund may invest a portion of its assets in cash or cash equivalents, including money market funds or short-term commercial paper.

At any given time, the Fund may be invested in only a sub-set of the asset classes listed above. In order to gain exposure to these asset classes, the Fund may hold or otherwise invest in U.S. or non-U.S. equity securities, bonds and other transferable securities, other U.S. or non-U.S. investment companies, exchange-traded funds ( ""ETFs"" ), real estate investment trusts ( ""REITs"" ), forwards, options (puts and calls), swaps, exchange-traded notes, certificates or other exchange-traded or over-the-counter financial or commodities-linked derivatives, asset-backed securities and other structured finance instruments and depositary receipts. The Fund may seek short exposure to specific securities, industry sectors, currencies, commodities, or other investments through the use of futures contracts, swap agreements or other derivative positions.

When investing in debt, the Fund may invest in debt securities of any maturity, duration or credit quality. The Fund intends to gain exposure to certain asset classes by investing a substantial portion of its assets in other U.S. or non-U.S. pooled investment vehicles, including, without limitation, ETFs, REITs, non-U.S. open-end funds regulated in Luxembourg (SICAVs) and Ireland (UCITS and QIFs), and closed-end funds organized and regulated in such domiciles as Singapore, Jersey, Guernsey and the U.K. ( ""Underlying Funds"" ). The Underlying Funds will include investment vehicles sponsored or managed by, or otherwise affiliated with, the Manager, including without limitation other U.S. mutual funds or ETFs. The portfolio managers select asset classes without regard to a benchmark, focusing instead on absolute return and risk metrics.

The portfolio managers take an active, flexible approach to asset allocation, adjusting the mix of asset classes in response to long- and short-term opportunities in an effort to reduce overall volatility and/or increase returns. The portfolio managers make allocation decisions across asset classes primarily based on an analysis of the long-term expected returns, correlations and risk factors associated with each asset class. The portfolio managers continuously monitor and may adjust the Fund's portfolio in light of the risk characteristics of the Fund's investments as may be observed at the portfolio, asset class and/or instrument levels. The portfolio managers may use proprietary or third-party quantitative risk models to help evaluate and manage the overall volatility of the portfolio and to identify the volatility contributions of specific instruments or asset classes.

The portfolio managers seek to achieve strong absolute returns and low volatility over the long term, generally 5 year rolling periods. There is no fixed asset allocation target for the Fund's portfolio and the allocation among asset classes is expected to vary significantly over time. The portfolio managers continually review and adjust the Fund's investment allocation in light of changing valuations, market conditions and other events that may affect the risk or expected return of the portfolio. The Fund is expected to be invested in at least five asset classes, not including cash, at all times. The Fund may invest without limitation in securities quoted or denominated in currencies other than the U.S. dollar and may hold such currencies. The Fund may make substantial use of derivatives, including volatility futures, equity indexed futures, currency forwards, interest rate swaps, and total return swaps."

BGBKX Performance

Total returns for BGBKX (as of 2026-10-01), from SEC filings.

BGBKX Risk Information

Risk metrics for BGBKX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 9.3%

BGBKX Costs and Fees

BGBKX costs about $57 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.57%
• Gross expense ratio: 2.68%
• Portfolio turnover: 58%
• Brokerage commissions: 2.27 bps of average net assets (SEC N-CEN)

BGBKX Cashflows

Over the 12 months to 2022-07, Baillie Gifford Multi Asset Fund had net inflows of $18.39M, from monthly SEC N-PORT filings.

BGBKX Debt Constituents

No individual debt constituents are reported in Baillie Gifford Multi Asset Fund's latest SEC N-PORT filing.

BGBKX Prospectus and SEC Filings

Official Baillie Gifford Multi Asset Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2021-08-26
• Prospectus (485BPOS) — filed 2020-09-17
• Prospectus supplement (497) — filed 2019-12-13
• Portfolio holdings (N-PORT) — filed 2022-09-23
• Portfolio holdings (N-PORT) — filed 2022-06-23
• Portfolio holdings (N-PORT) — filed 2022-03-23
• Annual census (N-CEN) — filed 2022-07-12
• Annual census (N-CEN) — filed 2021-07-01

Related Funds

Other Money Market funds tracked on ABC INVEST:

• Emerald Growth Fund (HSPCX)
• Barings Active Short Duration Bond Fund (BXDIX)
• IVA Worldwide Fund (IVWAX)
• Stadion Tactical Growth Fund (ETFDX)
• BBH Partner Fund - Select Short Term Assets (BBSTX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.