Capital at risk

Investment strategy

Diversified Growth

We’ve been investing in multi-asset portfolios since 2009. Our edge is our wide opportunity set and asset allocation mix, which allow us to create nimble portfolios prepared for different economic conditions.  

Our strategy is actively managed and diversified – an important approach when seeking attractive long-term returns at lower volatility than equity markets.   

An aerial view of a large lake inside a valley at sunset.

A breadth of opportunity

Our mission is simple – we take advantage of a breadth of opportunity across a diverse range of asset classes, aiming to deliver attractive returns with lower volatility than equity markets.

High variation, low volatility

We seek to provide a diverse portfolio of asset classes that has dual objectives with an equal focus on return and risk.  

We take a broad opportunity set and turn it into a single fund. We know this offers our clients a simple and effective way to achieve diversification at lower volatility levels than equity markets.  

Our objectives: 

  • A return that is at least 3.5 per cent more than the UK base rate over rolling five-year periods 
  • A positive return over rolling three-year periods 
  • Volatility of returns below 10 per cent over rolling five-year periods  
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.

Investing with the future in mind

Our portfolios avoid complexity and are positioned to achieve returns with low volatility.  

We identify the major drivers of markets and apply our expertise to construct a portfolio that invests across asset classes, incorporating:  

  • Macroeconomic views 
  • Long-term return expectations 
  • Risk and near-term scenario analysis 

The result is a top-down, macroeconomic and research-led portfolio, which seeks to generate value for our clients throughout economic cycles.  

Change brings opportunities. Short-term changes can be as unpredictable as the meander of a river but by focusing on long-term trends, we think it’s possible to figure out the destination.
James Squires

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 March 2024

#Holding% of portfolio
1Baillie Gifford Worldwide Sustainable Emerging Markets Bond Fund8.4%
2Baillie Gifford Emerging Markets Leading Companies Fund5.9%
3Galene Fund4.1%
4Leadenhall UCITS ILS Fund4.0%
5Baillie Gifford Long Term Global Growth Investment Fund4.0%
6Plutus CLO Fund3.4%
7Aegon ABS Opportunity Fund Acc3.1%
8Baillie Gifford Emerging Markets Bond Fund3.0%
9Baillie Gifford High Yield Bond Fund2.3%
10WisdomTree Aluminium ETC (c)2.0%

Asset Allocation - Exposure

All figures up to: 31 March 2024

1Infrastructure21.40%
2Listed Equities14.40%
3Structured Finance14.30%
4Property10.60%
5Emerging Market Bonds Hard Currency9.10%
6Insurance Linked8.90%
7Commodities6.00%
8High Yield Credit5.40%
9Emerging Market Bonds Local Currency3.60%
10Government Bonds3.60%
11Cash and Equivalents2.80%
12Active Rates and Currency-3.40%
Total 96%

Asset Allocation - Exposure

All figures up to: 31 March 2024

Total: 96%

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

Insights

Key articles, videos and podcasts relating to the strategy:

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Insights

Viewing 15 of 15
  1. Multi Asset investment update

    An update on performance, portfolio developments and where we see new opportunities.
    April 2024
    Video32 minutes
  2. Where are the opportunities?

    The Multi Asset Team’s forecast for growth, bonds, equities and other assets over the decade.
    March 2024
    Article7 minutes
  3. Multi Asset investment update

    An update on the portfolio, market environment and outlook for the year ahead.
    January 2024
    Video30 minutes
  4. Why growth, why now?

    Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.
    December 2023
    Article17 minutes
  5. Multi Asset Stewardship Report 2022-23

    We are not just budgeting for risk and costs, Multi Asset budgets for carbon.
    November 2023
    Document
  6. Multi Asset: Investment process evolution

    Focusing on the central pillars of our multi-asset investment process has sparked an evolution.
    November 2023
    Article
  7. Multi Asset Q3 investment update

    How is the portfolio adapting to risks and opportunities? Scott Lothian explains.
    October 2023
    Video32 minutes
  8. Multi Asset quarterly update

    James Squires reflects on the current environment influencing Multi Asset portfolios.
    July 2023
    Video32 minutes
  9. Why now for multi-asset investing

    Who benefits from the new macro environment? Why multi-asset investing remains a viable option.
    June 2023
    Article
  10. Multi Asset quarterly update

    Scott Lothian explains how Multi Asset is riding out the ups and downs of market volatility.
    April 2023
    Video31 minutes
  11. Productivity’s slowdown unravelled

    Casting fresh light on why productivity growth lost steam and why it might be about to pick up.
    February 2023
    Article
  12. Why excess global savings matter

    The savings surplus affects companies that want to issue financial assets to fund investment.
    January 2023
    Article
  13. The robots are coming

    Robots won’t take all our jobs, but they will affect labour markets and, with them, inflation.
    January 2023
    Article
  14. The inflation debate

    A temporary blip or a structural shift? The Multi Asset Team debates inflation’s ups and downs.
    January 2023
    Article
  15. The productivity surge of the 2020s

    Are the days of productivity growth over? The Multi Asset Team does not think so.
    January 2023
    Article

Multi Asset investment update

An update on performance, portfolio developments and where we see new opportunities.

Related insights

  1. Multi Asset investment update

    An update on performance, portfolio developments and where we see new opportunities.
    April 2024
    Video32 minutes
  2. Where are the opportunities?

    The Multi Asset Team’s forecast for growth, bonds, equities and other assets over the decade.
    March 2024
    Article
  3. Multi Asset investment update

    An update on the portfolio, market environment and outlook for the year ahead.
    January 2024
    Video30 minutes
  4. Why growth, why now?

    Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.
    December 2023
    Article17 minutes
  5. Multi Asset Stewardship Report 2022-23

    We are not just budgeting for risk and costs, Multi Asset budgets for carbon.
    November 2023
    Document
  6. Multi Asset: Investment process evolution

    Focusing on the central pillars of our multi-asset investment process has sparked an evolution.
    November 2023
    Article
  7. Multi Asset Q3 investment update

    How is the portfolio adapting to risks and opportunities? Scott Lothian explains.
    October 2023
    Video32 minutes
  8. Multi Asset quarterly update

    James Squires reflects on the current environment influencing Multi Asset portfolios.
    July 2023
    Video32 minutes
  9. Why now for multi-asset investing

    Who benefits from the new macro environment? Why multi-asset investing remains a viable option.
    June 2023
    Article
  10. Multi Asset quarterly update

    Scott Lothian explains how Multi Asset is riding out the ups and downs of market volatility.
    April 2023
    Video31 minutes
  11. Productivity’s slowdown unravelled

    Casting fresh light on why productivity growth lost steam and why it might be about to pick up.
    February 2023
    Article
  12. Why excess global savings matter

    The savings surplus affects companies that want to issue financial assets to fund investment.
    January 2023
    Article
  13. The robots are coming

    Robots won’t take all our jobs, but they will affect labour markets and, with them, inflation.
    January 2023
    Article
  14. The inflation debate

    A temporary blip or a structural shift? The Multi Asset Team debates inflation’s ups and downs.
    January 2023
    Article
  15. The productivity surge of the 2020s

    Are the days of productivity growth over? The Multi Asset Team does not think so.
    January 2023
    Article

Explore further

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

Important information

Please remember that all investment strategies have the potential for profit and loss and your or your clients’ capital may be at risk.
 
The information on this Website is issued by Baillie Gifford Asia (Hong Kong) Limited 柏基亞洲(香港)有限公司 (the “Company”) which is licensed by the Securities and Futures Commission of Hong Kong (the “SFC”) under the Securities and Futures Ordinance (“SFO”) for Type 1 (Dealing in Securities) and a Type 2 (Dealing in Futures Contracts) regulated activities with CE Number BGB803. It allows the Company to market and distribute the Baillie Gifford’s range of collective investment schemes to Professional Investors (as defined by the SFO) in Hong Kong.
 
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