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    NAV Price ()
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    Number of stocks
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    Risk Indicator
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    About this fund

    Fund objectives

    • The Fund seeks to provide an increase in the value of investments over the long-term (more than 5 years).
    • The Fund seeks to achieve its investment objective by investing primarily in shares of companies located in emerging markets around the world. Under normal circumstances, at least 80% of the Fund's assets will be invested in shares of such companies. A company is considered to be located in an emerging market country if it is organised under the laws of, or has a principal office in, an emerging country; if it has a class of securities whose principal securities market is in an emerging country; if it derives 50% or more of its total revenue from goods produced, sales made, or services provided in one or more emerging countries; or if it maintains 50% or more of its assets in one or more emerging countries.
    • The Fund is actively managed and uses a multi-manager structure with two investment advisers separately managing part of the Fund's assets. Each investment adviser uses their expertise to pick investments to achieve the Fund's objective.
    • The Investment Adviser has discretion to determine which countries are regarded as emerging markets, although those classified by the International Monetary Fund (IMF) as emerging or developing economies will typically be included, together with other countries having similar characteristics. Emerging markets are countries that are progressing toward becoming advanced, usually shown by some development in financial markets, the existence of some form of stock exchange and a regulatory body.
    • The Fund typically invests in a diverse range of companies representing different economic sectors and industry groups across the spectrum of large, mid and small cap value securities, chosen mainly on the basis of an investment approach that focuses on analysing individual shares rather than stock markets. The Fund's holdings will comprise a mix of investments in companies whose earnings are expected to grow faster than their peers in the market (known as 'growth stocks') and those that are considered to have been undervalued by the market (known as 'value stocks') selected from the world's emerging markets.
    • The Fund may also have exposure to bonds and other fixed income securities, other collective investment schemes (which themselves invest in securities which are consistent with the Fund's objective), money market instruments (i.e. investments usually issued by banks or governments that are a short term loan to the issuer by the buyer), deposits, and warrants (which provide the holder with the right, but not the obligation, to purchase a share at a fixed price or amount at a fixed time in the future).
    • The Fund attempts to remain fully invested and hold small amounts of cash except in extraordinary market, political or similar conditions where the Fund may temporarily depart from this investment policy to avoid losses.
    • The FTSE Emerging Index (the “Index”) serves as a reference benchmark for performance comparison. Whilst the Fund may hold investments that are components of the Index, the Index is not considered during portfolio construction and the investment adviser will not manage the extent to which the Fund's investments differ from the Index.

    Fund facts

    Share class inception
    25 May 2016
    Minimum initial investment
    £100,000.00
    Investment structure
    UK OEIC
    Share Class Assets'
    Total Assets
    Strategy
    Active
    Asset Class
    Equity
    Domicile
    United Kingdom
    Dividend schedule
    —
    Tax status
    —
    Currency
    GBP
    Legal entity
    Vanguard® Investments Funds ICVC
    Investment manager

    Baillie Gifford Overseas Ltd.
    Pzena Investment Management, LLC

    Benchmark
    FTSE Emerging Index

    The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

    Performance

    Risk and Volatility

    As at 30 Sep 2025

    Beta
    R²
    Annualized Tracking Error
    1 year
    3 years
    5 years

    Please note Beta and R-squared data will only display for funds with 3 full years of history.

    The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

    Portfolio data

    Characteristics
    FundamentalsFundBenchmarkAs at
    Number of stocks 130 2,270 30 Sep 2025
    Median market capital 26.2 B 30.1 B 30 Sep 2025
    13.1 x 16.1 x 30 Sep 2025
    1.7 x 2.5 x 30 Sep 2025
    13.8% 15.6% 30 Sep 2025
    13.8% 16.1% 30 Sep 2025
    Portfolio turnover rate 55.6% — 31 Jul 2025

    Market allocation

    As at 30 Sep 2025

    CountryRegionFundBenchmarkVariance +/-
    ChinaEmerging Markets 29.94% 35.67% -5.73%
    South KoreaPacific 12.38% 0.00% 12.38%
    TaiwanEmerging Markets 11.24% 20.65% -9.41%
    BrazilEmerging Markets 9.81% 4.11% 5.70%
    United States of AmericaNorth America 8.63% 0.00% 8.63%
    IndiaEmerging Markets 6.95% 18.39% -11.44%
    Hong KongPacific 3.99% 0.00% 3.99%
    ThailandEmerging Markets 2.92% 1.42% 1.50%
    HungaryEmerging Markets 2.35% 0.32% 2.03%
    CanadaNorth America 1.77% 0.00% 1.77%
    IndonesiaEmerging Markets 1.57% 1.19% 0.38%
    OtherOther 1.43% 0.00% 1.43%
    MexicoEmerging Markets 1.32% 2.27% -0.95%
    South AfricaEmerging Markets 1.15% 3.89% -2.74%
    SingaporePacific 1.08% 0.00% 1.08%

    Holdings details

    As at 30 Sep 2025

    Holding name% of market valueSectorRegionMarket valueShares
    Taiwan Semiconductor Manufacturing Co Ltd 6.78215% Technology TW £29,786,470.62 936,528
    Tencent Holdings Ltd 4.99387% Technology HK £21,932,547.36 346,500
    Samsung Electronics Co Ltd 4.46312% Telecommunications KR £19,601,535.12 441,293
    Alibaba Group Holding Ltd 4.16492% Consumer Discretionary HK £18,291,909.19 1,082,464
    SK hynix Inc 2.10503% Technology KR £9,245,049.60 50,252
    Baidu Inc 1.93174% Technology HK £8,483,987.57 667,150
    MercadoLibre Inc 1.75055% Consumer Discretionary US £7,688,249.63 4,429
    Credicorp Ltd 1.56019% Financials US £6,852,172.31 34,643
    Bank Rakyat Indonesia Persero Tbk PT 1.46573% Financials ID £6,437,343.61 37,031,659
    China Overseas Land & Investment Ltd 1.46543% Real Estate HK £6,436,000.84 4,694,500

    Total allocation percentages shown in the holdings details or the spreadsheet may not equal 100%, due to rounding or omission of cash and/or futures contracts.

    The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

    Weighted equity exposures exclude any temporary cash investments and equity index derivatives.

    Prices and distribution

    Prices

    NAV Price (GBP)
    £282.65
    Change
    +£2.690.96%
    At closure 29 Oct 2025
    NAV 52-week high
    £282.65
    At closure 30 Oct 2025
    NAV 52-week low
    £204.24
    At closure 30 Oct 2025
    NAV 52-week difference
    £78.41
    Change
    +27.74%
    At closure 30 Oct 2025
    Historical Prices

    -

    Inception date

    25 May 2016

    Date NAV (GBP)
    29 Oct 2025 £282.6543
    28 Oct 2025 £279.9660
    27 Oct 2025 £279.6379
    24 Oct 2025 £275.5303
    23 Oct 2025 £273.3146
    22 Oct 2025 £272.1436
    21 Oct 2025 £272.5001
    20 Oct 2025 £271.8608
    17 Oct 2025 £267.9993
    16 Oct 2025 £269.7324

    Distribution history

    Distribution frequency

    —

    Historical performance 30 Sep 2025

    2.20%

    All dividends are reinvested for the "Accumulation" shares.

    The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

    Purchase information

    Currency

    Base currency: GBP

    Fund codes

    • Bloomberg: VAGEMGA
    • Citi: N02B
    • ISIN: GB00BZ82ZY13
    • MEX ID: VVXAF
    • SEDOL: BZ82ZY1

    The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

    SEDOL and SEDOL Masterfile® are registered trademarks of the London Stock Exchange Group PLC. SEDOL data was extracted from the London Stock Exchange SEDOL Masterfile®.