Capital at risk

Investment strategy

Responsible Global Alpha Paris Aligned

We identify companies with the potential to deliver superior earnings growth while keeping emissions consistent with the Paris Agreement on climate change.  

An aerial view of a sailing boat floating on still water with clouds reflected on the surface.

Recognising diversity

An ambitious approach to investing in responsible growth companies from across the spectrum of opportunity, consistent with addressing the climate crisis. We are flexible and open-minded, recognising the diverse ways in which growth can be achieved. 

Global Alpha: our philosophy

Investment manager Helen Xiong introduces Global Alpha, reflecting on the exciting opportunities ahead.

Patient, engaged ownership

We aim to identify companies which can grow their earnings at a superior rate to the market over sustained periods, where this potential is not reflected in the price. As share prices are ultimately driven by earnings growth, this approach underpins our objective to deliver returns 2 to 3 per cent per annum ahead of the benchmark over rolling five-year periods before the deduction of fees.  

The strategy also commits to maintaining a Weighted Average Greenhouse Gas Intensity lower than the MSCI ACWI EU Paris Aligned Requirements Index and excludes companies which fail to meet our responsible behaviour criteria. 

The performance target is aspirational and is not guaranteed. We don’t use it to compile the portfolio and returns will vary. A single performance target may not be appropriate across all vehicles and jurisdictions. We may not meet our investment objectives if, for example, our growth investment style is out of favour or we misjudge the long-term earnings growth of our holdings.

A truly global portfolio

Our philosophy is to invest long-term in well-managed businesses with sustainable competitive advantages. We embrace diversity, splitting the portfolio across three growth profiles – compounders, disruptors and capital allocators – which exploit different inefficiencies.  

Each holding is analysed to ensure consistency with the low-carbon transition. The resulting portfolio of about 90 holdings represents the most attractive opportunities from across the growth spectrum. 

The 2020s must be the decisive decade of action on the climate crisis, and there will unquestionably be greater discussion on the need to align funds with a 1.5C warming scenario.
Helen Xiong

Meet the managers

Documents

Philosophy and process

Explore our investment philosophy and the processes around how the team constructs the portfolio.

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Strategy portfolio holdings

A list of the top 10 holdings that the representative portfolio invests in.

All figures up to: 31 October 2025

#Holding% of total assets
1NVIDIA6.3%
2Microsoft4.9%
3Amazon.com4.4%
4Meta Platforms4.0%
5TSMC3.9%
6Prosus3.9%
7DoorDash2.3%
8Alphabet2.2%
9Service Corporation International2.2%
10Mastercard2.1%

Strategy holdings by region

All figures up to: 31 October 2025

Total: 100%

All figures up to: 31 October 2025

Total: 100%

All figures up to: 31 October 2025

Total: 100%

Please note

The information contained on this page is intended as a guide only and should not be relied upon when making investment decisions. All holdings information is unaudited. Source Baillie Gifford & Co. Please note that totals may not add due to rounding.

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You can invest in this strategy through the following fund(s).

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Insights

Key articles, videos and podcasts relating to the strategy:

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Global Alpha: our philosophy

Investment manager Helen Xiong introduces Global Alpha, reflecting on the exciting opportunities ahead.

  1. Amazon: Stock Story

    Jon Henry gives three key reasons why tech giant Amazon remains a special investment.
    November 2025
    Video0 minute
  2. Adyen: Stock Story

    Beatrice Faleri explores Adyen, the one-platform engine for unified commerce.
    November 2025
    Video4 minutes
  3. Global Alpha insights: the grid for growth

    AI’s massive electricity needs create compelling investment opportunities.
    October 2025
    Article3 minutes
  4. Global Alpha Q3 update

    Investment manager Michael Taylor reflects on recent performance, portfolio changes and market developments.
    October 2025
    Video6 minutes
  5. Global Alpha Q3 investor letter

    The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
    October 2025
    Article
  6. Global Alpha insights: the future of finance

    Coinbase is reshaping finance by uniting digital assets, stablecoins and trust.
    September 2025
    Article3 minutes
  7. Salesforce: putting AI agents to work

    Agentforce’s promise of handling customer service 24/7, faster and at a lower cost.
    September 2025
    Article
  8. Global Alpha insights: onsemi

    How the chip maker reinvented itself from ugly duckling to industry leader.
    August 2025
    Article3 minutes
  9. Global Alpha insights: power-up mode

    Turning a potential AI threat into a strategic advantage, what is software company EPAM Systems' game plan?
    July 2025
    Article4 minutes
  10. Global Alpha Q2 investor letter

    The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
    July 2025
    Article12 minutes
  11. Global Alpha Q2 update

    Investment manager Helen Xiong reflects on recent performance, portfolio changes and market developments.
    July 2025
    Video6 minutes
  12. Uncommon understanding

    Global Alpha’s investment managers reveal how they spot what others don’t see.
    June 2025
    Article10 minutes
  13. Global Alpha: an enduring focus in a changing world

    Explore 20 years of Global Alpha in our anthology of articles covering the past, present and future.
    June 2025
    External linkLong read
  14. Global Alpha insights: infrastructure

    Why companies like Martin Marietta are set to benefit from increased spending on infrastructure.
    May 2025
    Article4 minutes
  15. “”

    Actual investing revisited

    In this keynote paper Partner Stuart Dunbar reaffirms the importance of active management to healthy capitalism.
    May 2025
    ArticleLong read

Invest in this strategy

You can invest in this strategy through the following fund(s).

Explore further

Curious to learn more about our products and what we can offer you? Please get in touch.

Important information

Baillie Gifford Overseas Limited (ARBN 118 567 178) is registered as a foreign company under the Corporations Act 2001 (Cth) and holds Foreign Australian Financial Services Licence No 528911. The information in this area is provided to you on the basis that you are a “wholesale client” within the meaning of section 761G of the Corporations Act 2001 (Cth) (“Corporations Act”). Please advise Baillie Gifford Overseas Limited immediately if you are not a wholesale client. In no circumstances should the information in this area be made available to “retail clients” as defined by the Corporations Act.

The information in this area contains general information only. It does not take into account any person’s objectives, financial situation or needs.