Investment Manager, Kate Fox explores how fashion might evolve from eco-culprit to eco-warrior, and where investment opportunities might arise along the way.

Three years ago, in the run-up to the Brexit vote, a single soundbite seemed to sum up the mood of one side of the debate, and indeed of a much broader, international populism that rejected received wisdom on many things, from immigration to immunisation. Michael Gove, one of the leading Brexiteers, was repeatedly quoted as having said, “I think the people of this country have had enough of experts...”.

Tom Slater, head of Baillie Gifford’s US Equities team reports on how visionary businesses are looking beyond current market events and thinking about the future.

Baillie Gifford’s over-arching ethos is that we are ‘actual’ investors. Our approach to stewardship favours a small number of simple principles which help shape our interactions with companies.

Governance and Sustainability analysts Michelle O’Keeffe and Laura Thomson answer some of the most common climate change questions they are asked in relation to climate change and Baillie Gifford’s position regarding it.

We wager that what you think you know about US equity investing is wrong. Investment Manager Helen Xiong lays her cards on the table as she busts the three most common misconceptions surrounding active investment in US equities.

With online companies currently dominating sales, it is widely expected that the need for tangible stores will continue to decrease, but Baillie Gifford has spotted a rise in forward-thinking companies who are utilising physical spaces to provide an innovative and interactive shopping experience.

In Baillie Gifford we have a very different perspective on 2018, and hence the future, than the one you will be used to reading about.

We chose to buy Australian bonds when they were unpopular – and it has paid off.

Almost unnoticed, Japanese management is changing for the better. Head of Japan Donald Farquharson looks at the transformation drawing on the experience of three decades of engagement.

If you can’t see past the clichés, then investing in emerging market bonds is probably not for you. But for those prepared to strip away the labels and look to the future, there are positive stories out there waiting to be found.

Stephen Corr makes the case for the defence of international equities, arguing that while the US market has been shrinking, international markets continue to expand.

With their curiosity for learning undiminished, Global Alpha’s investment managers share where they think their quest for learning will take them in the year ahead.

Global Stewardship offers a differentiated global equity portfolio, consisting of both Local Heroes and Global Champions. Mike Gush explains why this makes them different.

The investment management industry is often accused of failing to put clients’ interests first. Tom Coutts investigates and considers what we should be doing differently.

Investment managers Lawrence Burns and Paulina Sliwinska share thoughts on future trends with Professor Brian Arthur.

It is taken for granted that stocklending is a harmless activity that can produce a little extra return with limited risk. But is this really so? Scott Nisbet investigates.

Technological and societal advances are often predictable, at times, almost inevitable. Ultimately, they are exploitable for the benefit of our clients. Tom Slater explains why this is so when investing in US equities.

Although Japan appears to be late to the unlisted party, there are promising signs of change. Andrew Brown considers how investors should approach unlisted opportunities in Japan to help clients gain access to the most exciting growth businesses.

Anthony Tait joined the Global Stewardship investment team for a Portfolio Construction Group meeting in which they discussed what they have learned in the three years since the strategy’s launch.

The search for new investment ideas can be a demanding journey. Joe Faraday draws comparisons with some of history’s great explorers and explains why he is excited by opportunities that lie beyond the horizon.

The Baillie Gifford US Equities team believes extended research trips are a valuable way of gaining deeper insight into companies and disruptive industries. Kirsty Gibson recently spent time in the US finding out about Synthetic Biology.

Toby Ross shows how Baillie Gifford’s growth approach to income investing, starts from a very different philosophical position compared with our peers. Take a look from a different angle.

Investment manager Brian Lum explores how their radar framework helps Baillie Gifford’s International Smaller Companies team to uncover exciting small businesses around the world.

Japan often has a reputation for low dividend payments. Investment Manager, Karen See explains why this has not always been the case in the past and might not be in the future.

Stewardship is often little more than a buzzword in the investment industry. For our Global Stewardship team, however, a thoughtful, practical and long-term approach to stewardship is making a difference for clients.

We think ‘long-term investing’ and ‘ESG investing’ are synonymous. That’s why financially-relevant ESG considerations are integral to our investment process. Baillie Gifford’s International Equity Fund shares its approach to ESG matters, suggesting that it is a natural part of assessing the longer-term risks to a company’s growth opportunity or competitive advantage. And, something that is hard to replicate via a check-list or passive investing.

Our lives are increasingly cluttered by information overload. And, as Iain Campbell explains, having too much data can hamper rather than improve the process of investing. The key is to ignore irrelevant noise and focus on the drivers of long-term investment returns.

Our ACWI Alpha team on why collaboration helps lead to wiser investment decisions.

“I felt a wonderful dialogue was building between you and me, and ultimately, it is only that dialogue that matters.” So wrote President Donald Trump of the US to North Korean leader Kim Jong-un in May 2018, when he declared that he was withdrawing from talks planned for 12 June 2018.

The old face of Japanese industry is changing. With many founder-led entrepreneurs at the helm of cutting-edge companies, we are starting to see vibrant new growth in many industries, including housing, the sciences and retail.

Chris Davies explains how latent growth stocks can overcome stumbles, like Finnish runner Lasse Viren in the 1972 Olympics, and provide lucrative returns for the patient long-term investor.

Many things affect the ebb and flow of an economy, especially in these interesting times. Surely what our politicians do and say reflects on the financial markets? Gerald Smith considers how much politics might really matter.

One ought to be an optimist to invest in Emerging Markets, but so very few analysts are. Baillie Gifford’s Emerging Markets team explain how they fly in the face of market inefficiencies in their search for excess returns.

Lee Qian discusses the recent evolution of impact investing and explains why the Positive Change strategy has both the ability and the responsibility to contribute to global progress.

Many patients with kidney failure face an agonising wait for a donor or a life on dialysis. However, as Julia Angeles writes, new technologies may offer a brighter future.

In 2017, the Emerging Markets team wrote a paper called ‘Morbid Symptoms’, explaining why they were optimistic despite the confusion of political events in the West. A year on, Will Sutcliffe provides five more reasons to be cheerful about emerging market equities.

Peter Singlehurst explains why LTGG have started investing in more unlisted companies, and describes his enthusiasm for some of the private companies currently in the portfolio.

Global Alpha's investors highlight their growth investing philosophy, with examples of how they incorporate growth stocks into the portfolio across the four growth categories.

To build great businesses, company management should understand how a company’s culture can affect shareholder value. Gary Robinson looks at how having a distinctive culture can create great opportunities for those looking to invest in thoughtfully managed companies.

The investment environment in Japan is undergoing significant change. Labour remains in short supply, while productivity improvements and employee satisfaction are being prioritised. With wages rising, will the country finally escape deflation?

The story of investing is really the story of the big winners, those exceptional companies that reshape our world and in the process reap the rewards. Lawrence Burns sets out how a long-term and patient approach to investment is necessary to identify those truly great companies that could drive extreme returns.

Healthcare has improved exponentially over the last few centuries and is still evolving. Gary Robinson looks at some of the reasons he is excited about investment opportunities in this sector and other areas directly related to it.

While equities offer the income-seeking investor scope for both income and growth, investing in the domestic equity market may not be the answer for UK investors. Instead, portfolio managers Toby Ross and James Dow cast their net globally, seeking out the resilient, growing businesses that they think will deliver a diversified, dependable income stream over time.

China has been an underestimated asset class, which might now be attracting the proper attention of some indices. Sophie Earnshaw looks at three reasons she believes China could be the perfect place for active managers to seek investment opportunities.

For those navigating the investment world to seek out sources of income, the ability to understand connections and build an accurate mental map, is critical. Sally Greig sets the record straight on an often overlooked asset class – local currency EM bonds – suggesting that, contrary to popular belief, they may have a place in actively managed investment strategies.

What does the word ‘culture’ mean to you? Mark Urquhart ponders the topic, focusing on why, for long-term investors, measuring and understanding corporate culture is such an important indicator of a company’s ability to succeed.

Ben Drury argues that active management offers more than just the prospect of exceeding returns achievable from passive investing, with wider economic implications and support for companies among the additional benefits.

China has a vision. A vision to re-establish the network of land and sea corridors once known as the ‘Silk Road’. Linking East with West, Tim Gooding considers how this network will provide opportunities, not only to those countries who will host the new trade routes, but to long-term investors in the region.

At Baillie Gifford we don’t manufacture performance, our aim is to craft it. Kevin Fenelon notes that as important as a robust research framework is, if we are to find the right stocks, then our investors must be prepared to have an open mind, embrace risk and think creatively about the future.

While there is a move away from active management in the US, our US Equities team think it is misplaced. Technology-driven change is creating exciting companies in the US with exceptional prospects, thereby presenting opportunities for active, long-term investors to outperform passive investment strategies.

Historical precedence would indicate that technological progress doesn’t cause long-run unemployment. With the phenomenal progress now being made in artificial intelligence, investment manager Lawrence Burns looks at why the new challenges it presents won’t change that.

Active management in emerging markets - Claire Gillies and Andrew Keiller explain why it is important to be selective rather than follow the index and outline the potential rewards such an approach can bring.

The active investment industry as a whole appears to have done a better job of enriching itself than adding value for clients. Is it worth defending? Stuart Dunbar thinks so. He believes there is value in employing good active fund managers. He sets out the approaches that he believes are most likely to deliver outperformance for clients, suggests why investors and investment managers have failed to implement them and what should be done regarding it.

The companies held within the LTGG portfolio are not just generating returns for shareholders, they are also reshaping the world. The LTGG team take a closer look at some of the companies within the portfolio that are making the world a better place for everyone, not just their shareholders.

Home to many of the world’s greatest companies, the United States should be the active investment manager’s dream. Not so for everyone, it seems. Swimming against the tide of passive and mediocre active investment strategies, Head of US equities Tom Slater endorses a genuinely active, long-term approach to investing in the American dream.

China may indeed be sitting at the bottom of an opportunity curve, but will its ‘new economy’ deliver, or will China go the same way as its neighbour, Japan? Andrew Keiller explains why China won’t be the next Japan.

Stuart Dunbar discusses the woes of what our industry has become alongside the potential opportunities presented by its somewhat over-evolved state.

Trend-following strategies have their place in multi-asset portfolios, but not at any price. David McIntyre explores what the most efficient and cost-effective way of accessing the attractive return profile of momentum strategies is.

Investment manager Julia Angeles strikes an optimistic note as she explores some of the recent developments in healthcare, which one day she hopes will bring an end to cancer.

With stable, inflation-linked cash flows, infrastructure may offer both a good source of return and diversification benefits within a multi-asset portfolio. Investment Manager James Squires takes a closer look at the asset class and its key characteristics.

Investing in equities is a long-term commitment. In this article, we explain why market movements are usually irrelevant and why shareholders should look past immediate events and focus on the long term.

Joe Faraday shares his enthusiasm for the importance of cities as growth drivers, explaining how access to world-leading academics and their research has shaped his thinking.

Julia Angeles, an investment manager in the EAFE Alpha team, considers how scientific developments have led to changes in the diagnosis and treatment of diseases, and why the current rate of progress is set to accelerate in the coming years. Angeles also explains why she opted to undergo genomic testing.

As the UK’s exit from the European Union looms, there is no shortage of doomsayers taking the view that investing in UK stocks might be a foolish thing to do. Milena Mileva has a more optimistic outlook and examines several exciting British businesses that have the potential for significant long-term growth.

One of the most common misunderstandings about income investing is the confusion of long-term income with short-term yield. Investment manager Toby Ross sets the matter straight.

Brazil and the UK might be miles apart, but they do share at least one surprising commonality: a 3% inflation rate. As Sally Greig explains, structural changes in Brazil are starting to have an impact on the country’s changing fortunes.