Baillie Gifford US Growth Trust – executive interview

In this interview, one of Baillie Gifford US Growth Trust’s (USA) managers, Kirsty Gibson, introduces the trust, the portfolio of which is made up of both listed and private companies. She then explains the strategy for finding outliers, which are growth companies that can generate disproportionate outcomes over the long term. While these businesses may not look inexpensive on traditional measures, consensus expectations do not take account of their significant growth opportunities. Kirsty also outlines the enhancements and guide rails that were introduced following a period of volatile performance and she highlights how they relate to portfolio construction and the increased clarity they bring regarding the balance between ambition and risk. She discusses USA’s private company exposure and some recent transactions and their investment cases. She then talks about AI-related businesses and other areas of the portfolio where the prospects look particularly bright before summarising what the trust offers investors.