Investment beliefs

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<p><strong>Amy Atack:</strong> When people talk about talent in the investment industry, it’s typically framed around standard qualifications and resource gaps. Firms often chase the star of the moment and accept that high turnover is simply part of the model. The resulting risk is fragmented teams and investment processes shaped more by career cycles than long-term thinking.</p> <p>We take a different approach. Over time, we’ve learned that long-term thinking depends on long-term teams. Teams that have strong foundations of trust and understanding. If you want to think independently, challenge consensus and support clients through uncertainty, you need to have people who have the time and confidence to do exactly that. Rather than recruiting narrowly from traditional finance pipelines, we look for intellectual curiosity. Many of our investors didn’t study finance at all. They studied subjects like biotechnology, history, engineering, music or languages.</p> <p>This gives us real diversity of thought, different ways of analysing the problems that businesses face, questioning assumptions and understanding how change really happens. Once people join, we invest deeply in them for the long term, developing our people through structured learning and close mentorship. Training at Baillie Gifford is deliberate and ongoing. Research analysts aren’t treated as transient inputs. They’re embedded within investment teams, expected to build deep expertise, to challenge thinking and grow into long-term investors themselves. More than ever, we’re also thinking about reskilling as AI changes the way in which we all work.</p> <p>Our teams are global by design. We research companies and markets all over the world, and collaboration across geographies is a critical part of how we work. We value breadth over narrow specialisms. It’s that breadth of perspective that strengthens debate and leads to more considered investment decisions.</p> <p>The result of our approach is stability. Our retention rates are consistently higher than industry averages because people build careers here, not stepping stones. That career may span different investment teams, geographies and philosophies, but it is a Baillie Gifford career.</p> <p>Stability matters to our clients. Stable teams and individuals that our clients can build relationships with over time mean continuity of philosophy, deeper company knowledge and decisions shaped over years rather than quarters. Building investment teams that last isn’t an abstract cultural idea. It’s an advantage and a fundamental part of how we seek to deliver positive long-term outcomes for our clients.</p> <p class="MsoNormal">&nbsp;</p> <h3>Risk Factors</h3> <p>The views expressed should not be considered as&nbsp;advice or a recommendation to buy, sell or hold a particular investment. They reflect opinion and should not be taken as statements of fact nor should any reliance be placed on them when making investment decisions.</p> <p>This communication was produced and approved in April 2026 and has not been updated subsequently. It represents views held at the time of writing and may not reflect current thinking.</p> <p><strong>Potential for Profit and Loss&nbsp;</strong></p> <p>All investment strategies have the potential for profit and loss, your or your clients’ capital may be at risk. Past performance is not a guide to future returns.</p> <p>This communication contains information on investments which does not constitute independent research. Accordingly, it is not subject to the protections afforded to independent research, but is classified as advertising under Art 68 of the Financial Services Act (‘FinSA’) and Baillie Gifford and its staff may have dealt in the investments concerned.</p> <p>All information is sourced from Baillie Gifford &amp; Co and is current unless otherwise stated.&nbsp;</p> <p>The images used in this communication are for illustrative purposes only.</p> <p><strong>Important Information</strong></p> <p>Baillie Gifford &amp; Co and Baillie Gifford &amp; Co Limited are authorised and regulated by the Financial Conduct Authority (FCA). Baillie Gifford &amp; Co Limited is an Authorised Corporate Director of OEICs.</p> <p>Baillie Gifford Overseas Limited provides investment management and advisory services to non-UK Professional/Institutional clients only. Baillie Gifford Overseas Limited is wholly owned by Baillie Gifford &amp; Co. Baillie Gifford &amp; Co and Baillie Gifford Overseas Limited are authorised and regulated by the FCA in the UK.</p> <p>Persons resident or domiciled outside the UK should consult with their professional advisers as to whether they require any governmental or other consents in order to enable them to invest, and with their tax advisers for advice relevant to their own particular circumstances.</p> <p><strong>Financial Intermediaries</strong></p> <p>This communication is suitable for use of financial intermediaries. Financial intermediaries are solely responsible for any further distribution and Baillie Gifford takes no responsibility for the reliance on this document by any other person who did not receive this document directly from Baillie Gifford.</p>