Morningstar® Fund Report™|13/05/2026
Baring German Growth Trust (USD)
Performance History 30/04/2026
Growth of 1,000(USD)
Fund -15.62 16.52 16.09 26.19 -0.05
+/-Cat 1.92 1.26 6.37 7.47 -
+/-Idx - - - - -
Category: Other Equity
Index: -
Trailing Returns 11/05/2026
Fund +/-Idx
YTD 1.12 -
3 Years 54.33 -
5 Years 66.64 -
10 Years 157.07 -
12 Month Yield -
Dividend Paying Frequency Annually
Key Stats
Morningstar Category
Other Equity
Morningstar Rating™
Not Rated
ISIN
GB00BXVMKV60
NAV 11/05/2026
USD 21.7300
Day Change
-0.69%
Total Net Assets (mil)
30/04/2026
USD  427.86
Front Load Fee(Max)
3.00%
Deferred Load Fee
-
Manager Name
Paul Morgan
Inception Date
29/05/2015
Benchmark
Fund Benchmark
HDAX TR EUR
Morningstar® Benchmark
-
Investment strategy
The investment objective of the Trust is to achieve capital growth by investing in Germany. The Trust will seek to achieve its investment objective by investing at least 75% of its total assets directly and indirectly in equities and equity related securities of companies incorporated in, or exercising the predominant part of their economic activity in Germany, or quoted or traded on the stock exchanges in Germany.
Portfolio Profile 31/03/2026
Morningstar Style Box®_Morningstar:
Equity Style
Asset Allocation %
% Long % Short % Net Assets
Stocks 99.11 0.00 99.11
Bonds 0.00 0.00 0.00
Cash 0.97 0.07 0.89
Other 0.00 0.00 0.00
Top 5 Regions %
Eurozone 97.24
United States 2.76
Canada 0.00
Latin America 0.00
United Kingdom 0.00
Top 5 Sectors %
Industrials 32.31
Financial Services 21.58
Technology 14.95
Utilities 7.75
Communication Services 7.64
Top 5 Holdings Sector %
Siemens AG Industrials Industrials 8.58
Allianz SE Financial Services Financial Services 8.48
SAP SE Technology Technology 7.60
Deutsche Telekom AG Communication Services Communication Services 7.18
Rheinmetall AG Industrials Industrials 4.90
Return Charts
3 Months 6 Months 1 Year 3 Years 5 Years 10 Years
Index Currency
UPDATE
Fund: Baring German Growth Trust (USD)
Index: Please select ...
Annual Returns 30/04/2026
2019 2020 2021 2022 2023 2024 2025 2026
Total Return 27.68 -0.17 27.41 -15.62 16.52 16.09 26.19 -0.05
+/- Category 4.10 -2.81 13.37 1.92 1.26 6.37 7.47 -
+/- Index - - - - - - - -
% Rank (Rel to Cat) - - - - - - - -
Trailing Returns 11/05/2026
Total Return +/- Category +/- Index
1 Day -0.69 -0.34 -
1 Week 0.09 2.35 -
1 Month 1.49 7.11 -
3 Months -1.98 3.96 -
6 Months 3.82 16.50 -
YTD 1.12 6.44 -
1 Year 5.08 23.59 -
3 Years 54.33 76.01 -
5 Years 66.64 96.37 -
10 Years 157.07 166.70 -
Quarterly Returns 30/04/2026
Quarter 1 Quarter 2 Quarter 3 Quarter 4
2026 -6.28 - - -
2025 13.68 9.30 -1.23 2.82
2024 11.45 -1.10 3.03 2.22
2023 11.20 1.64 -4.29 7.71
Dividend 11/05/2026
12 Month Yield -
2026 -
2025 0.11
2024 0.09
2023 0.07
Morningstar Rating™ -
3-Year Not Rated
5-Year Not Rated
10-Year Not Rated
Overall Not Rated
Volatility Measurements 30/04/2026
1-Yr Volatility 15.20%   3-Yr Volatility 12.39%
1-Yr MaximumDrawdown -10.29% 3-Yr MaximumDrawdown -10.29%
1 Yr Sharpe Ratio 0.33 3-Yr Sharpe Ratio 0.82
3-Yr Mean Return 1.24%
Investment Style Details 31/03/2026
Morningstar Style Box®_Morningstar:
Equity Style
Size Rel to Cat
Average Mkt Cap (Mil) EUR 42523.85 0.00
Market Capitalisation % Of Equity
Giant 37.35
Large 44.89
Medium 7.81
Small 6.51
Micro 2.55
Valuations and Growth Rates Equity Portfolio Relative to Category
Price/Prospective Earnings 14.83 0.00
Price/Book 1.84 0.00
Price/Sales 0.82 0.00
Price/Cash Flow 8.13 0.00
Dividend-Yield Factor 2.80 0.00
Long-Term Projected Earnings Growth 10.38 0.00
Historical Earnings Growth 2.82 0.00
Sales Growth 0.74 0.00
Cash-Flow Growth 9.82 0.00
Book-Value Growth 4.57 0.00
AssetAllocation 31/03/2026
Asset Allocation
% Long % Short % Net Assets
Stocks 99.11 0.00 99.11
Bonds 0.00 0.00 0.00
Cash 0.97 0.07 0.89
Other 0.00 0.00 0.00
World Regions 31/03/2026
% Of Equity Relative to Category
United States 2.76 0.00
Canada 0.00 0.00
Latin America 0.00 0.00
United Kingdom 0.00 0.00
Eurozone 97.24 0.00
Europe - ex Euro 0.00 0.00
Europe - Emerging 0.00 0.00
Africa 0.00 0.00
Middle East 0.00 0.00
Japan 0.00 0.00
Australasia 0.00 0.00
Asia - Developed 0.00 0.00
Asia - Emerging 0.00 0.00
Emerging Market 0.00 0.00
Developed Country 100.00 0.00
Not Classified 0.00 0.00
Stock Sector Weightings 31/03/2026
% Of Equity Relative to Category
CyclicalCyclical 33.21 -
Basic MaterialsBasic Materials 5.34 -
Consumer CyclicalConsumer Cyclical 4.99 -
Financial ServicesFinancial Services 21.58 -
Real EstateReal Estate 1.30 -
Sensitive 54.89 -
Communication ServicesCommunication Services 7.64 -
EnergyEnergy - -
IndustrialsIndustrials 32.31 -
TechnologyTechnology 14.95 -
DefensiveDefensive 11.00 -
Consumer DefensiveConsumer Defensive - -
HealthcareHealthcare 3.25 -
UtilitiesUtilities 7.75 -
Top 10 Holdings 31/03/2026
Portfolio
Total Number of Equity Holdings 41
Total Number of Bond Holdings 0
Assets in Top 10 Holdings % 58.31
Product Name Sector Country/Region % of Assets
Siemens AG Industrials Industrials Germany 8.58
Allianz SE Financial Services Financial Services Germany 8.48
SAP SE Technology Technology Germany 7.60
Deutsche Telekom AG Communication Services Communication Services Germany 7.18
Rheinmetall AG Industrials Industrials Germany 4.90
Siemens Energy AG Ordinary Shares Industrials Industrials Germany 4.79
Commerzbank AG Financial Services Financial Services Germany 4.32
Munchener Ruckversicherungs-Gesellschaft AG Financial Services Financial Services Germany 4.18
E.ON SE Utilities Utilities Germany 4.16
Infineon Technologies AG Technology Technology Germany 4.12
Management Team
CompanyName Baring Fund Managers Ltd
Phone +44 20 76286000
Website Beaufort House
Address 51 New North Road
Exeter


 
Domicile GBR
Legal Structure Unit Trust
UCITS Yes
Inception Date 29/05/2015
Fund Advisor(s)
Baring Asset Management Ltd
Fund Manager   Paul Morgan
Manager Start Date   01/02/2020
Education  
University of Hertfordshire
Biography  
Paul Morgan is a Fund Manager and Analyst in the Barings’ Global Developed Equities Team. He is lead manager on the Barings Europa and Barings European Growth funds, two pan-European funds focused on large-cap equities, and also on the Barings German Growth fund. Paul has worked in the industry since 1995. Prior to joining Barings in 2007, he worked for Brown Shipley & Co, where he was an equity fund manager responsible for UK equities. Paul holds a BSc (Hons) in mathematics and economics from the University of Hertfordshire and has attained the ASIP and CFA qualifications.
Fees and Expenses
Sales Charges (Maximum)
Front Load Fee 3.00%
Deferred Load Fee -
Switching Fee 1.00%
Annual Charge
Management (Max) 1.50%

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