Global large-cap growth funds are popular with investors because they offer a wide exposure to international stocks. While growth stocks have been under pressure in 2026, their long-term track record is more impressive, particularly with the standout performance of US tech stocks in recent years.
These funds provide diversification benefits by allocating to global stocks. But they are also active funds, so managers can increase or decrease weightings to particular countries, regions, and sectors, moving away from index allocations in the search for higher returns.
Here, funds from Baillie Gifford, Pinnacle, T. Rowe Price and Capital Group achieve the highest Morningstar Medalist Rating of Gold.
What Are Global Large-Cap Growth Equity Funds?
Global large-cap growth portfolios invest in large-growth equities worldwide, allocating at least 20% to North America and 15% to Greater Europe. Large-cap equities fall within the top 70% of market capitalization in Morningstar’s seven style zones (Europe, US, Canada, Latin America, Japan, Asia ex-Japan, and Australia/New Zealand). Growth stocks are characterized by high growth rates (earnings, sales, book value, and cash flow) and high valuations (price ratios and low dividend yields). At least 75% of total assets are held in equities.
The 10 Best Global Large-Cap Growth Equity Funds and ETFs to Buy in 2026
To find the best global large-cap growth funds and ETFs to buy, we screened for the lowest-cost primary share classes earning a
- Baillie Gifford Long Term Global Growth Investment Fund
- BNY Mellon Long-Term Global Equity Fund
- T. Rowe Price Funds SICAV - Global Focused Growth Equity Fund
- Capital Group New Economy Fund (LUX)
- Rathbone Global Opportunities Fund
- Brown Advisory Global Leaders Fund
- Pinnacle ICAV - Hyperion Global Growth Companies Fund - UCITS
- GuardCap Global Equity Fund
- Schroder International Selection Fund Global Sustainable Growth
- Capital Group UK - New Perspective Fund
Because the screen was created with the lowest-cost share class for each fund, some may be listed with share classes that are not accessible to individual investors, or they may be aimed at institutional investors and require large minimum investments. The individual investor versions of those funds may carry higher fees, reducing returns to shareholders. Medalist Ratings may differ among the share classes of a fund.
Morningstar expects the highly rated global large-cap growth funds on this list to outperform their peers over a full market cycle. But even though all the funds on our list fall into the same category, they may practice different strategies, and therefore behave differently from each other. Investors need to do some homework to understand exactly what a particular fund invests in before buying.
Here’s a quick look at some standout picks from the best global large-cap growth funds. Be sure to review a fund’s complete report for more details.
Baillie Gifford Long Term Global Growth Investment Fund
- : £1.4 billionFund Size
- : EAA Fund Global Large-Cap Growth EquityMorningstar Category
- : GoldMorningstar Medalist Rating
- Ongoing Charge: 0.64%
The Baillie Gifford Long Term Global Growth Investment Fund is run by a management team that earns a High people rating from Morningstar. The team averages close to six years with the fund while Mark Urquhart, the longest-tenured manager, has been with the fund for nine years. Baillie Gifford earns a parent rating of Above Average.
The £1.4 billion fund has climbed 19.63% over the past 12 months, underperforming the average fund in its category, which rose 24.69%. The Baillie Gifford fund, which launched in April 2017, has climbed 13.86% over the past three years and gained 0.41% over the past five years.
Baillie Gifford Long Term Global Growth is focused on and invests in transformational growth companies. It is managed by an erudite team with links to academics, industry “visionaries,” and useful contacts with unlisted companies. We have increased conviction in those at the helm and how they implement the process, resulting in a rating of High across the People and Process Pillars. The distinctive philosophy and the combination of experience, collegial interactions within the team and with other Baillie Gifford teams, and the firm’s partnership structure are key to our positive view. The managers bring a distinctive and differentiated approach to portfolio management, with careers dedicated to genuine, long-term thinking. It takes a specific type of investor to run this type of strategy, and their ability to stay the course is commendable. They have proved capable of stomaching significant price volatility and have a long record of identifying ultra-growth companies.
The comanager structure is led by Baillie Gifford partner Mark Urquhart and John MacDougall as the more senior portfolio managers at the helm, with almost six decades of collective experience, all at Baillie Gifford. They are joined by Gemma Barkhuizen, also a partner in the firm, who was appointed as a decision-maker in January 2022. Although we saw decision-maker Michael Pye depart in January 2026, who was appointed alongside Barkhuizen, we maintain our positive view of the team, and people management remains a strength at this firm.
The process is research-intensive, and the philosophy is well-established, finding its origins in institutional mandates launched in 2004. It aims to recognize genuine long-term growth and makes use of differentiated sources of information. Portfolio construction is punchy, permitting these views to translate into tangible returns. Periods of heightened volatility and single-stock drawdowns are expected and tolerated by the team. Enhancements to risk management and analysis in recent years are accretive. Meanwhile, capital allocation within the portfolio is evident as the managers rotate into the next generation of high-growth companies. The portfolio will naturally exhibit some extreme growth and sector biases. The managers now approach China with greater caution than in the early 2020s, and exposure has come down markedly, though it is still overweight there compared with the Morningstar Category average.
Long-term performance has been strong, but it has been a bumpy ride. The strategy’s extreme growth bias leads to underperformance when value does well and at times of heightened investor caution. Meanwhile, valuations have on occasion looked stretched. The extreme drawdown in 2022 is testament to this, following a period of unprecedented outperformance. Investors should look to invest for the long term and be comfortable seeing through periods of elevated volatility. They may want to consider topping and tailing exposure depending on their views of valuations, though at the portfolio level, forward sales and earnings growth currently look attractive. Over 2025, the strategy outperformed the Morningstar Global Growth Index as well as its peer group average. Strong selection in communications services (AppLovin and Reddit), financials (Nu Holdings), and industrials (Rocket Lab and Symbiotics) drove the outperformance.
Michael Born, analyst
Read Morningstar’s full report on the Baillie Gifford Long Term Global Growth Investment Fund.
T. Rowe Price Funds SICAV - Global Focused Growth Equity Fund
- : £3.4 billionFund Size
- : EAA Fund Global Large-Cap Growth EquityMorningstar Category
- : GoldMorningstar Medalist Rating
- Ongoing Charge: 0.55%
The T. Rowe Price Funds SICAV - Global Focused Growth Equity Fund is run by a management team that earns a High people rating from Morningstar. The team averages close to 10 years with the fund while David J. Eiswert, the longest-tenured manager, has been with the fund for close to 14 years. T. Rowe Price earns a parent rating of High.
Over the past 12 months, the T. Rowe Price fund rose 43.86%, while the average fund in its category rose 24.69%. The fund, which launched in March 2019, has climbed 19.23% over the past three years and gained 8.72% over the past five years.
An adaptive, consistently executed investment framework that leverages deep research earns a High Process rating.
This strategy is designed to be an all-weather offering that seeks to deliver outperformance in a two-year time window. To achieve such a result, manager David Eiswert doesn’t anchor on a narrow investment style. Instead, he purchases stocks that fit his framework, which emphasizes investing in quality companies with fundamentals poised to inflect higher whose stocks trade at inexpensive valuations. The quality focus tends to skew Eiswert away from debt-laden firms with poor profitability, but outside of that, the portfolio has gone wherever he has found the best opportunities. Eiswert’s framework often leads him to buy stocks whose fundamentals appear to have bottomed and exit others near their peak while adding and trimming along the way. His timely decision to bail on high-growth stocks in late 2020 and 2021 is a prime example of the process in action. Turnover typically runs around 100% per year, which leads to higher capital gains distributions than most competing strategies.
Eiswert supplements analyst insights with his own research. He and his dedicated team look for stocks’ fundamental drivers that tend to be rewarded most strongly or reliably by the market. His goal is to improve the odds that a stock he buys goes on to outperform. He’ll buy a stock if the analyst’s thesis concurs with his research.
Eiswert has also looked for ways to improve his framework, which is another positive trait. Evolutions include greater consideration of views outside of T. Rowe’s walls and smaller bets against the market’s biggest companies, such that any one miss doesn’t mar relative returns.
Adam Sabban, associate director
Read Morningstar’s full report on the T. Rowe Price Funds SICAV - Global Focused Growth Equity Fund.
Pinnacle ICAV - Hyperion Global Growth Companies Fund - UCITS
- : £17.8 millionFund Size
- : EAA Fund Global Large-Cap Growth EquityMorningstar Category
- : GoldMorningstar Medalist Rating
- Ongoing Charge: 0.5%
The fund’s management earns a High rating from Morningstar. Parent company Hyperion earns a rating of High.
The £17.8 million fund has gained 16.37% over the past 12 months, while the average fund in its category is up 24.69%. The Hyperion fund was launched in February 2025.
Long-term vision, deep research, and high conviction.
Hyperion Asset Management employs a detailed, fundamentals-first investment strategy, with a clear focus on long-term growth. The team focuses on companies with strong business models and proven leadership, paying little attention to benchmark weightings.
The team conducts a rigorous bottom-up research process, screening stocks using metrics such as return on equity, revenue growth, and interest cover. This helps reduce the universe to a manageable number of candidates for deeper analysis. Each shortlisted company is then subject to comprehensive research reports and financial modeling, with a particular emphasis on forecasting its 10-year internal rate of return.
Company meetings are a vital part of the process, allowing the entire investment team to assess management quality, understand business drivers, and identify sustainable competitive advantages. Portfolio construction is largely systematic, with weightings based on the forecasted 10-year return.
The result is a differentiated concentrated portfolio of 15 to 30 high-conviction holdings, available to investors via a dual-listed/ unlisted structure and requiring caution from short-term investors.
The investment team pays little heed to any benchmark, instead focusing on firms with disruptive products or strategies, structural tailwinds, and managements that share Hyperion’s long-term orientation. A strict bottom-up research effort looks for companies that offer attractive long-run potential, and the team screens stocks using factors such as return on equity, revenue growth, and interest cover, reducing the universe to a manageable number of stocks for further analysis. Then the team prepares detailed research reports and financial models for prospective companies, seeking to understand the key drivers of the business, appraise management, and identify durable competitive advantages. Financial models forecast the expected 10-year total return for a stock. Portfolio construction is largely systematic.
A model portfolio weights each security primarily based on its forecast 10-year internal rate of return, and single stocks are capped at 13% of the portfolio. While the investment team members are primarily bottom-up stock-pickers, they work to understand macroeconomic factors that can influence the portfolio over time. The strategy is available to investors via a dual-listed/unlisted structure. Units can be traded off-market through the responsible entity or on the Australian Securities Exchange, utilizing the exchange-traded fund Hyperion Global Growth Companies. Trading on the Australian Securities Exchange provides intraday liquidity, but spreads can widen during periods of extreme volatility. Investor returns will depend on the price traded and may differ from those calculated from the responsible entity unit price. Hyperion publishes an indicative intraday net asset value on its website to aid with price discovery. This is calculated using the latest available pricing of underlying securities and proxies (such as futures) where live pricing is unavailable.
Eva Cook, director
Read Morningstar’s full report on the Pinnacle ICAV - Hyperion Global Growth Companies Fund - UCITS.
Capital Group UK - New Perspective Fund
- : £666.1 millionFund Size
- : EAA Fund Global Large-Cap Growth EquityMorningstar Category
- : GoldMorningstar Medalist Rating
- Ongoing Charge: 0.39%
The Capital Group UK - New Perspective Fund is run by a management team that earns a High people rating from Morningstar. The team averages close to two years with the fund. Capital Group earns a parent rating of High.
The £666.1 million fund has gained 28.85% over the past 12 months, while the average fund in its category is up 24.69%. The Capital Group fund was launched in October 2024.
American Funds New Perspective (which includes the Capital Group-branded Luxembourg, Australia, and Japan vehicles, and CFS-branded Australia vehicles) continues to benefit from an accomplished management roster and a deep global analyst bench, even as it undergoes a long-planned leadership transition. Combined with the strategy’s proven investment approach, these strengths support its High People and Above Average Process ratings.
Although the strategy lost a veteran manager last year and will see another departure this year, Capital Group has executed the leadership transition thoughtfully, and the strategy remains in capable hands. The firm allocates assets between subsidiaries Capital International Investors and Capital World Investors. In early 2025, Barbara Burtin succeeded long-tenured leader Jody Jonsson as head of CWI’s team, with Jonsson stepping off at the end of last year. In March 2026, the firm announced that lead Principal Investment Officer Rob Lovelace will hand off responsibilities to Noriko Chen on May 1, 2026, before stepping off the fund at year-end. Chen has run a sleeve of the strategy for 13 years and has been involved with it for more than 25 years. Burtin, who has been with the firm for 17 years, has managed her portion of the portfolio for seven years. Together, they provide experienced leadership through this transition.
Most of this globally based management team remains intact, ensuring continuity. As lead PIO, Chen will head up the whole strategy, in charge of allocating capital to the managers, and leads CII team, which includes Lovelace, Anne-Marie Peterson, Aline Avzaradel, and Kohei Higashi. Burtin oversees CWI’s team of Brady Enright, Andraz Razen, Patrice Collette, and Steven Watson. Both teams draw on roughly two separate 50-person analyst groups, with each analyst team also managing a dedicated slice of the portfolio.
The team applies a well-established approach focused on global multinationals positioned to benefit from evolving trade dynamics. Typically, these are financially stable, established firms. Each manager independently runs a sleeve but must adhere to requirements that companies derive at least 25% of revenue from outside their home region and maintain a minimum $3 billion market cap at purchase.
The strategy has consistently proved reliable in protecting capital during market downturns, benefiting investors over the long term. Over the trailing 10-, 15-, and 20-year periods through February 2026, the US-domiciled mutual fund outperformed the MSCI ACWI benchmark and ranked in the global large-stock growth Morningstar Category’s top third or better each period. In 2025, the strategy landed in the category’s top quintile but lagged the index.
Overall, this remains a top-tier global equity option with strong prospects to build on its long record of success.
Stephen Welch, senior analyst
Read Morningstar’s full report on the Capital Group UK - New Perspective Fund.
