The flow of growth: tracking how we pursue opportunity
- The sectors that Baillie Gifford Developed EAFE All Cap Strategy's holdings come from have shifted in prominence over time
- Healthcare and industrial technologies, for example, account for more of today’s investments than they did in 1989
- But utilities, real estate and energy are the source of fewer pickings
Please remember that the value of an investment can fall and you may not get back the amount invested.
Over 30 years, we have sought growth wherever it exists.
We do not restrict ourselves to following a house view, buy list or chief investment officer's commands. And the holdings we select on behalf of our clients are an eclectic mix of exceptional companies.
The following graph shows how our pursuit of growth has evolved. It reveals dynamic shifts in our research as we homed in on outstanding businesses in sectors we anticipated would rise in prominence.
Industrials and telecommunications were a focus in the 1990s. Energy and miners in the mid-2000s. Consumer stocks and internet platforms in the 2010s. Today, healthcare and industrial technologies, including factory and warehouse automation, are fertile ground.
These interests reflect successive waves of growth in the global economy. But our purpose remains to identify outliers capable of delivering outperformance, not to buy into a trend.
Developed EAFE All Cap through the decades
The views expressed should not be considered as 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.
This communication was produced and approved in September 2022 and has not been updated subsequently. It represents views held at the time of writing and may not reflect current thinking.
Potential for Profit and Loss
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Developed EAFE All Cap Composite
MSCI EAFE Index
Developed EAFE All Cap Composite
MSCI EAFE Index
Source: Baillie Gifford & Co and underlying index provider(s). USD.
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