Capital at risk
International Smaller Companies
We harness asymmetry in equity markets to capture the disproportionate impact of successful investments. These can be early-stage and immature or established, best-in-class operators in profitable niche areas.
Unearthing exceptional companies
We are committed to finding the most exciting smaller companies in one of the deepest and least efficient segments of the market. Our task is to look for small, exceptional companies and invest in them with an ownership mindset.
International Smaller Companies Q2 update
The International Smaller Companies Team reflects on recent performance, portfolio changes and market developments.
Generating outstanding returns for clients
We aim to outperform the benchmark (MSCI ACWI ex US Small Cap Index) by at least 3 per cent per annum over rolling five-year periods.
We will invest in companies with a market capitalisation of $2bn or smaller, which we expect to deliver strong growth and we will sell once they reach $10bn. This allows enough room to foster significant long-term returns for our clients while sharing our insights on our most successful holdings with larger cap strategies as they exceed our size threshold.
We’re in it for the long term
Great companies can be so for different reasons. Some want to shape and transform industries, others have skillsets to exploit emerging opportunities. Some operate at a superior level through distinctive culture or thoughtful stewardship.
At the lower end of the market cap spectrum, many are often underappreciated or ignored by narrowly focused and short-term driven participants. This provides an excellent opportunity for Baillie Gifford, with its expertise in active management and belief in long-term investment, to create a truly differentiated strategy.
Looking beyond our benchmark is not an option, it’s a necessity. To uncover truly remarkable investments, we must embrace our curiosity and spirit of exploration.
Meet the managers
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Strategy portfolio holdings
A list of the top 10 holdings that the representative portfolio invests in.
All figures up to: 30 June 2024
# | Holding | % of portfolio |
---|---|---|
1 | Hypoport | 5.29 |
2 | Global UniChip | 3.54 |
3 | Addtech | 3.47 |
4 | ASPEED Technology | 3.31 |
5 | AirTAC International Group | 3.10 |
6 | Chroma ATE | 3.08 |
7 | Alpha FX | 2.87 |
8 | Brunello Cucinelli | 2.85 |
9 | Reply | 2.77 |
10 | Kinaxis | 2.69 |
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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Insights
Key articles, videos and podcasts relating to the strategy:
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Insights
International Smaller Companies Q2 update
The International Smaller Companies Team reflects on recent performance, portfolio changes and market developments.Why small companies matter to us
Unlocking the potential of small cap investments.Tilting the odds in your favour
The Magnificent Seven’s reputation goes before them but that’s not enough to save them.International Smaller Companies Q1 update
The International Smaller Companies Team reflects on recent performance, portfolio changes and market developments.International Smaller Companies Q4 update
The International Smaller Companies Team reflects on recent performance, portfolio changes and market developments.Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.International Smaller Companies: Under the Radar
Part 6 - Alignment.International Smaller Companies: Under the Radar
Part 5 - Insight.International Smaller Companies: Under the Radar
Part 4 - Scalability.International Smaller Companies: Under the Radar
Part 3 – SustainabilityInternational Smaller Companies: Under the Radar
Part 2 – Competitive Edge.International Smaller Companies: Under the Radar
Part 1 - OpportunityInternational Smaller Companies: Under the Radar
Introducing the Radar
International Smaller Companies Q2 update
The International Smaller Companies Team reflects on recent performance, portfolio changes and market developments.
International Smaller Companies Q2 update
The International Smaller Companies Team reflects on recent performance, portfolio changes and market developments.Why small companies matter to us
Unlocking the potential of small cap investments.Tilting the odds in your favour
The Magnificent Seven’s reputation goes before them but that’s not enough to save them.International Smaller Companies Q1 update
The International Smaller Companies Team reflects on recent performance, portfolio changes and market developments.International Smaller Companies Q4 update
The International Smaller Companies Team reflects on recent performance, portfolio changes and market developments.Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.International Smaller Companies: Under the Radar
Part 6 - Alignment.International Smaller Companies: Under the Radar
Part 5 - Insight.International Smaller Companies: Under the Radar
Part 4 - Scalability.International Smaller Companies: Under the Radar
Part 3 – SustainabilityInternational Smaller Companies: Under the Radar
Part 2 – Competitive Edge.International Smaller Companies: Under the Radar
Part 1 - OpportunityInternational Smaller Companies: Under the Radar
Introducing the Radar
Explore further
Curious to learn more about our products and what we can offer you? Please get in touch.
Important information
The information provided does not constitute an offer of or solicitation for purchase or sale of securities or provision of any investment services. Baillie Gifford does not currently have any funds that offer securities under a simplified prospectus for general offer or sale within Canada. No securities regulatory authority in Canada has reviewed or in any way passed upon this website or the merits of any investment available, and any representation to the contrary is an offence.
Persons resident or domiciled in Canada should consult with their professional advisers as to whether they require any governmental or other consents in order to enable them to trade.
You can read details of our Legal and Important Information here.
Trade Matching Statement
This Trade-Matching Statement is being provided in accordance with National Instrument 24-101 -"Institutional Trade Matching and Settlement" and Companion Policy 24-101 CP (the "National
Instrument"). It applies to all trades that are subject to the National Instrument. View the whole statement.