Capital at risk

Investment strategy

Sustainable Multi Asset

We look to generate attractive returns over cash with low volatility, investing within a tight carbon budget in line with the Paris Agreement.  

Our wide opportunity set and diverse asset mix allows us to create flexible portfolios prepared for different economic conditions.  

Jungrau mountain peak during alpen glow at sunset. View from First, Grindelwald, Switzerland.

Limiting carbon, not growth

We offer a breadth of opportunity across a diverse range of asset classes, aiming to deliver attractive returns with lower volatility than equity markets and within a decreasing carbon budget.

Emphasising diversification

We seek to provide a diverse, actively managed portfolio with three equally weighted objectives of return, climate and risk.  

We take a broad opportunity set and turn it into a single fund with sustainable qualities. This offers clients an effective way to achieve diversification at lower volatility levels than equity markets. 

Our objectives: 

  • A return of 3.5 per cent more than UK base rate over rolling five-year periods and a positive return over rolling three-year periods 
  • A carbon footprint maintained below a budget which declines at 7 per cent per annum 
  • 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.

Looking to the future, not the past

We’ve been investing in multi-asset portfolios since 2009. We combine our macro views with themes that will drive markets in the long term to find the best opportunities.  

We also ask, "is this investment compatible with a sustainable economy?" and apply our expertise to construct a portfolio that incorporates:  

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

The result is a sustainable, research-led portfolio which seeks to generate value for clients throughout economic cycles.  

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

Meet the managers

Explore further

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

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 Fund8.9%
2Blackrock GBP LEAF Fund4.7%
3Baillie Gifford High Yield Bond Fund4.5%
4Plutus CLO Fund3.6%
5Leadenhall UCITS ILS Fund3.4%
6Galene Fund3.0%
7Baillie Gifford Investment Grade Bond Fund3.0%
8Baillie Gifford Responsible Global Equity Income Fund2.7%
9Aegon ABS Opportunity Fund Acc2.6%
10Baillie Gifford Emerging Markets Bond Fund2.5%

Strategy holdings by asset allocation

All figures up to: 31 March 2024

1Infrastructure13.40%
2Structured Finance12.20%
3Property11.90%
4Listed Equities10.50%
5Emerging Market Bonds Hard Currency9.50%
6High Yield Credit8.90%
7Insurance Linked8.30%
8Cash and Equivalents8.00%
9Government Bonds6.50%
10Commodities4.70%
11Emerging Market Bonds Local Currency3.00%
12Investment Grade Bonds3.00%
13Active Rates and Currency-3.20%
Total 96%

Strategy holdings by asset allocation

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.

Explore further

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:

Filters

Insights

Viewing 14 of 14
  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: Investment process evolution

    Focusing on the central pillars of our multi-asset investment process has sparked an evolution.
    November 2023
    Article
  5. Sustainable Multi Asset Stewardship Report 2022-23

    We are not just budgeting for risk and costs, Sustainable Multi Asset budgets for carbon.
    November 2023
    Document
  6. Multi Asset Q3 investment update

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

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

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

    Scott Lothian explains how Multi Asset is riding out the ups and downs of market volatility.
    April 2023
    Video31 minutes
  10. 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
  11. Why excess global savings matter

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

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

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

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

Where are the opportunities?

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

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: Investment process evolution

    Focusing on the central pillars of our multi-asset investment process has sparked an evolution.
    November 2023
    Article
  5. Sustainable Multi Asset Stewardship Report 2022-23

    We are not just budgeting for risk and costs, Sustainable Multi Asset budgets for carbon.
    November 2023
    Document
  6. Multi Asset Q3 investment update

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

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

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

    Scott Lothian explains how Multi Asset is riding out the ups and downs of market volatility.
    April 2023
    Video31 minutes
  10. 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
  11. Why excess global savings matter

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

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

    A temporary blip or a structural shift? The Multi Asset Team debates inflation’s ups and downs.
    January 2023
    Article
  14. 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.
 
The information contained in this website has been compiled with considerable care to ensure its accuracy at the date of publication. However, no representation or warranty, express or implied, is made to its accuracy or completeness. Nothing in this information or elsewhere in this website shall exclude, limit or restrict our duties and liabilities to you under the SFO or any conduct of business rules which we are bound to comply with. The information on this website has not been reviewed by the SFC. These Terms and any non-contractual obligations arising from or connected with them shall be governed by, and these Terms shall be construed in accordance with, the laws of Hong Kong.
 
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation or offer to buy, sell or hold a particular investment. You can read details of our Legal and Important Information here. Please remember that all investment strategies have the potential for profit and loss and your or your clients’ capital may be at risk.
 
This website does not collect personal information. "Cookies" may be stored on your computer for easy navigation. A "cookie" does not allow us to identify you, but stores information about navigation through our website (such as pages already visited, time and date of visit) which we can remember during the user's next visit to our website in order to improve your browsing experience. If you have any enquiries in relation to our data protection policies and procedures, this Website or the information on it, please click here to contact Baillie Gifford.
 
Baillie Gifford Asia (Hong Kong) Limited 柏基亞洲(香港)有限公司 is incorporated in Hong Kong.  The Company’s principal place of business is Suites 2713-2715 Two International Finance Centre, 8 Finance Street, Central, Hong Kong . Baillie Gifford Asia (Hong Kong) Limited 柏基亞洲(香港)有限公司 is a wholly owned subsidiary of Baillie Gifford Overseas Limited, which is wholly owned by Baillie Gifford & Co. Baillie Gifford Overseas Limited and Baillie Gifford & Co are authorised and regulated in the UK by the Financial Conduct Authority.