Baillie Gifford Euro Sm Cos: Qual. Rating Updated
We don’t see Baillie Gifford European Smaller Companies as a stand-out choice, despite strong performance in 2009.
"This Europe-ex UK fund benefitted from a tailwind in 2009. The lower average market cap here relative to the typical Morningstar Europe Ex-UK Small/Mid Cap Equity peer helped it beat the average by 13.5 percentage points as small caps comfortably outpaced their mid- and large-cap brethren. However, relative to a custom peer group focused on small caps, the margin of outperformance was 7.6 percentage points."
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