Capital at risk

Investment strategy

Multi Asset Growth

Our Multi Asset Strategy offers exposure to an actively managed, diversified range of assets – an important approach when seeking attractive long-term returns at lower volatility than equity markets.  

We take our macro views of the world and integrate them with themes that will drive investment markets over the long term to find the best opportunities.  

Man silhouette on background of famous Risin og Kellingin rocks and cliffs of Eysturoy and Streymoy Islands seen from Kalsoy Island. Faroe Islands, Denmark. Landscape photography

Taking advantage of diversity

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.   

Chasing superior returns

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 that 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 3.5 per cent more than 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.

Low volatility, high value

We look to the future, not the past, creating portfolios that avoid complexity to achieve returns with low volatility. 

We identify the major drivers of markets and apply our knowledge and 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.  

Changes in the world bring investment opportunities. The unrivalled opportunity set of our Multi Asset funds gives us many ways to generate very attractive returns off the back of these.
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 Fund9.0%
2Baillie Gifford Emerging Markets Leading Companies Fund6.3%
3Terna3.8%
4Aegon ABS Opportunity Fund Acc3.5%
5Baillie Gifford Global Income Growth Fund3.4%
6Galene Fund3.3%
7Plutus CLO Fund3.1%
8Baillie Gifford US High Yield Credit3.0%
9Baillie Gifford Emerging Markets Bond Fund3.0%
10iShares MSCI EM UCITS ETF2.7%

Asset Allocation - Exposure

All figures up to: 31 March 2024

1Infrastructure21.70%
2Listed Equities18.20%
3Structured Finance14.30%
4Property11.70%
5Emerging Market Bonds Hard Currency9.80%
6Government Bonds8.10%
7Commodities6.30%
8Emerging Market Bonds Local Currency3.60%
9High Yield Credit3.00%
10Investment Grade Bonds2.20%
11Cash and Equivalents1.20%
12Active Rates and Currency-4.10%
Total 95%

Asset Allocation - Exposure

All figures up to: 31 March 2024

Total: 95%

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 17 of 17
  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. Multi Asset Stewardship Report 2022-23

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

    Focusing on the central pillars of our multi-asset investment process has sparked an evolution.
    November 2023
    Article
  6. From Leeds to LA

    Creating a high conviction, best ideas, global and unconstrained property portfolio.
    September 2023
    Article7 minutes
  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
  16. Multi Asset Stewardship Report

    Summary of the Multi Asset Team’s Stewardship Activities for 2021/22.
    November 2022
    Document
  17. Multi Asset quarterly update

    Investment manager Scott Lothian reflects upon the recent drivers of performance across investment markets, how the current environment is influencing investment decisions, and the key risks and opportunities for the Multi Asset portfolio.
    October 2022
    Video30 minutes

Multi Asset investment update

Have banks tamed inflation? Have we hit peak rates? Will we see a recession in 2024? In this webinar, head of Multi Asset James Squires reflects on these questions and gives an update on the portfolio.

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. Multi Asset Stewardship Report 2022-23

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

    Focusing on the central pillars of our multi-asset investment process has sparked an evolution.
    November 2023
    Article
  6. From Leeds to LA

    Creating a high conviction, best ideas, global and unconstrained property portfolio.
    September 2023
    Article7 minutes
  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
  16. Multi Asset Stewardship Report

    Summary of the Multi Asset Team’s Stewardship Activities for 2021/22.
    November 2022
    Document
  17. Multi Asset quarterly update

    Investment manager Scott Lothian reflects upon the recent drivers of performance across investment markets, how the current environment is influencing investment decisions, and the key risks and opportunities for the Multi Asset portfolio.
    October 2022
    Video30 minutes

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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