Baillie Gifford Asset manager

Profile

Return to list
Name
Baillie Gifford

Who we are


 


Baillie Gifford is an independent investment partnership founded in Scotland in 1908. The firm focuses on long-term growth investing, in some of the world’s most exciting companies.


With 1,737 staff and assets under management of $280bn, we have offices in Edinburgh, London, New York, Hong Kong, Shanghai, Dublin, Zurich, Frankfurt, Toronto, Amsterdam and Krakow (at 30 June 2022).


We are owned entirely by 51 working partners with an average of 19 years at the firm. They are stewards of the company, handing it on to the next generation when they retire. In our long history we have had no mergers or acquisitions, only a commitment to remaining independent. Without outside shareholders to distract us, we can focus entirely on clients and their investments, and that’s what has sustained our business. Over 54 per cent of clients have been with us for over five years.


How we invest


We invest in extraordinary companies, whether private or listed, that we believe can offer tremendous growth over five to 10 years (or sometimes longer). This time horizon allows them to flourish and innovation to play out, but investing this way requires patience and conviction. Our investment managers look at the future possibilities of a company rather than current profits, ignoring market noise and quarterly earnings. Rigorous debate, curiosity and sharing ideas are central to this process. When companies do succeed, we continue to be supportive.


We believe this approach to investing delivers the best results for clients, and also helps to develop strong companies that provide services and products of the future for people and wider society.


When it comes to finding companies to invest in, we are curious about the world and work with academics and authors as well as doing traditional investment research. This provides opportunities to talk to brilliant people who are discovering new frontiers and challenging the way we think about the world. It helps uncover entrepreneurs and businesses to invest in which are disrupting traditional industries and services. We support scientific research programmes at more than 25 organisations, in areas such as genetics, computational biology and artificial intelligence; and sponsor 12 book festivals.


Baillie Gifford is passionate that genuine active management can add value for clients. Our portfolios are very different to the index and have high active shares, of around 80 per cent.


Our Shared Beliefs


Baillie Gifford fosters a culture based on partnership and an investment philosophy focused on long-term growth.


 



  • Our active investment management will add material value for clients over the long run

  • We put our clients’ interests ahead of our own

  • We should be actively engaged shareholders of the companies in which we invest

  • Our ownership structure is a key strength

  • Our firm must be an engaging and progressive place to work

  • Our actions and behaviour should support society as a whole


Find out more at www.bailliegifford.com/sharedbeliefs


For further information or contact details, please see our website: www.bailliegifford.com

 

 

 

 

 

 

 

 
Investment professionals
301

Locaties

Baillie Gifford & Co (Edinburgh)

Visiting Address
Calton Square, 1 Greenside Row
EH1 3AN, Edinburgh

Baillie Gifford Investment Management (Europe) Limited, Dublin Head Office

Visiting Address
4/5 School House Lane East
D02 N279 , Dublin

Baillie Gifford Investment Management (Europe) Limited - Amsterdam branch

Visiting Address
Atrium Building, Strawinskylaan 3051 4th floor
1077ZX, Amsterdam

Contacts




Research & content

Published 2-9-2022

Asset Management

Zweden: een smörgåsbord van toonaangevende innovatie
Link: Innovatie
Published 14-7-2022

Asset Management

Opkomende markten spelen sleutelrol in de energietransitie
Published 28-10-2021

Asset Management

Published 28-10-2021

Asset Management

Baillie Gifford’s latest research article explores the interests, needs and behaviours of the 12- to 36-year-old cohort in China. China’s Gen Z+ has a unique approach to life that is playing out in a variety of social, cultural and economic spheres. These give rise to shifting patterns of consumption, which support the development of innovative local brands and in some cases begin trends that become global in scale. Today young Chinese are drinking Jiangxiaobai, driving NIO’s electric vehicles and using Yatsen’s cosmetics, all while wearing Li-Ning’s sportswear. These names are still unfamiliar to many outside China, but they could soon have global relevance. ByteDance’s TikTok recently announced it had passed one billion international users. It shows that a Chinese company can hit the sweet spot with a global Gen Z+ audience despite intense competition from Western counterparts. It is impossible to know for sure which Chinese companies these under-37s will propel to success. But the sheer size of the cohort and Gen Z+’s curious nature present exciting opportunities to those who are willing to engage in deep research, focus on growth and patiently give companies time to mature.

Please find the digital version via this link: https://magazinebailliegifford.com/ChinaGenZ/
Published 28-10-2021

Asset Management

Maatschappelijk Verantwoord Beleggen
Published 28-10-2021

Asset Management

Published 28-10-2021

Asset Category

Onze analyses geven bijzondere inzichten
Published 28-10-2021

Asset Management

At Baillie Gifford, we pride ourselves on not simply being active investors, but Actual Investors, who value constant learning, patience and fortitude. This film gives further insight into our investment philosophy, our history and company structure.

Products and Solutions

(Integrated) Risk Management
Equities
Emerging Markets Equities
Advisory/sub-advisory
ALM/Strategic Advice
Other
Asset Allocation (SAA/TAA/GTAA)
Corp Bonds
Mutual Funds
Bitcoin / crypto-assets
Custody
Derivates
Segregated Accounts
Responsible Investment / ESG
ETFS
Fiduciary Management, (partially) in-house
Fiduciary Management, externally managed only
Structured Products
Commodities
Hedge Funds
High Yield
Mortgages
Impact Investing
Infra & Property
LDI
Multi-Asset Mandates
Emerging Market Debt
Private debt
Private Equity
Research
Securities lending
Govt Bonds
Currency
(Integrated) Risk Management
Equities
Emerging Markets Equities
Advisory/sub-advisory
ALM/Strategic Advice
Other
Asset Allocation (SAA/TAA/GTAA)
Corp Bonds
Mutual Funds
Bitcoin / crypto-assets
Custody
Derivates
Segregated Accounts
Responsible Investment / ESG
ETFS
Fiduciary Management, (partially) in-house
Fiduciary Management, externally managed only
Structured Products
Commodities
Hedge Funds
High Yield
Mortgages
Impact Investing
Infra & Property
LDI
Multi-Asset Mandates
Emerging Market Debt
Private debt
Private Equity
Research
Securities lending
Govt Bonds
Currency

Blog

Innovatie

1 September 2022

Zweden: een smörgåsbord van toonaangevende innovatie Wat hebben de ritssluiting, de moersleutel en...

Read more

Energietransitie

14 July 2022

Advertorial Opkomende markten spelen sleutelrol in de energietransitie Bij alle...

Read more

Assets under management

AUM by Client Type (EUR m)




AUM by Asset Class (EUR M)




Details

Source: Baillie Gifford & Co

Market View

We believe that our longer term view, our willingness to back our judgment and our single Investment Management office location are differentiating features. There is a lot of short term noise in the market and many players are focused on a three to six month view. We believe that market timing is exceptionally difficult, but that over the long-term, a company that can grow its earnings and cash flow faster than average will have a share price that out-performs. These are the opportunities we aim to identify. Our single Investment Management location in Edinburgh means that we can gain a global perspective of potential opportunities.

Consequently, what we do with the information available to us is more important than the information itself. The same information on companies is available to investment professionals no matter where in the world they are located. Our proprietary research does not seek to reinvent the wheel by reproducing complicated earnings spreadsheets to three significant figures; instead we use the resources at our disposal in the market to provide our raw quantitative data and then use our time to analyse this data in order to gain insights into the business models and competitive advantages of the companies in which we invest.

 

Values and Objectives

Baillie Gifford has been offering investment management services for more than 110 years. The world has changed in the intervening period and stewardship of the firm has passed down through several generations of partners; however, the delivery of good, long-term investment returns for clients has remained our overriding objective throughout.

Baillie Gifford’s partnership structure is unusual amongst large investment management companies. Our current generation of 43 working partners and over 1000 employees remain singularly focused on our clients’ requirements. We have no external shareholders. This structure helps us to attract and retain talented staff and underpins our organisation’s stability and its distinct and enduring culture. It also allows us to take a long-term view in everything that we do.

There are five main principles to our strategy:

1. Focus investment teams on high value tasks. We aim to reduce distractions to increase the chances of outperformance.

2. Back our investment judgement. Embracing risk within a reasonably diversified portfolio is an integral part of the pursuit of meaningful returns over the long term.

3. Provide high levels of service to enhance client relationships and retain client confidence through clear, thoughtful and helpful communications.

4. Keep our existing clients’ interests’ paramount. Evolving with client needs and developing our business is important but generating strong results for existing clients will always be our core goal.

5. Keep our firm and its activities simple. Our time should be focused on investment activities and on looking after and understanding our clients’ needs. We minimise bureaucracy where we can.

Baillie Gifford’s sole business is investment management. We do not carry out any custodial or intermediary activities. With the exception of some administrative aspects of international pooled vehicles, all operations and controls are carried out in-house.

Baillie Gifford operates within a framework that sets high standards of professionalism and personal integrity. We firmly believe that a strong control environment is essential for our business and we continue to invest in the enhancement of controls where needed.

History

Baillie Gifford & Co was founded in Edinburgh in 1908 and is one of the UK’s largest independent investment management firms, 100% owned by the 43 partners who all work within the firm. Our partnership structure has not changed since 1908 and we are committed to retaining this structure.

Throughout the early part of the twentieth century, Baillie Gifford & Co developed and managed a wide range of investment trusts investing in equities and bonds worldwide. Our first investment offering was a closed-end mutual fund launched in 1909, the Straits Mortgage & Trust Company. The fund initially specialised in investing in the Far East and then moved to a global outlook, with a strong emphasis on North American investments. This trust, now called Scottish Mortgage, is still a client and is one of the largest investment trusts in the industry.

During the 1960s, Baillie Gifford developed its International Equity discipline, becoming one of the first European investment firms to explore the markets of Japan and other areas in the Far East. In recent decades the firm has forged successful investment specialties in Japan, Europe, North America and Emerging Markets.

By the time of its centenary in 2008, Baillie Gifford had offices in New York and London in addition to its headquarters in Edinburgh and was managing more than $100 billion.

Baillie Gifford Overseas Limited was established in 1983 and provides investment management and advisory services to non-UK clients. Baillie Gifford Overseas Limited is wholly owned by Baillie Gifford & Co. It is registered with the Securities & Exchange Commission in the United States of America.

 More recently, as our record of stable organic growth has continued, the firm has steadily diversified both in terms of client base and by the range of investment strategies we offer such as multi asset and fixed income strategies. By June 2022 we were managing asset of over $280bn for clients in around 30 countries, mainly for pension fund clients but also increasingly for other financial institutions, sovereign wealth funds and private individuals.

Performance Measurement

Internal
External
GIPS
Other
Internal
External
GIPS
Other

Fee Structure

When determining fee structures, we aim to ensure clients share the benefits of any economies of scale, enjoy the bulk of targeted outperformance and that the fees reflect the liquidity of the strategy under consideration. This is in keeping with our broader aim, which is to generate long-term outperformance for our clients, net of investment management fees.