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.

Multi Asset Q2 update

The Multi Asset Team reflects on recent performance, portfolio changes and market developments over the last quarter.

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

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Strategy portfolio holdings

A list of the top 10 holdings that the representative portfolio invests in.

All figures up to: 30 June 2024

#Holding% of portfolio
1Baillie Gifford Emerging Markets Leading Companies Fund6.0%
2UK T Bill 02/09/20244.2%
3Leadenhall UCITS ILS Fund3.8%
4Plutus CLO Fund3.2%
5Galene Fund3.0%
6Baillie Gifford Global Income Growth Fund2.8%
7Aegon ABS Opportunity Fund Acc2.6%
8Baillie Gifford Long Term Global Growth Investment Fund2.3%
9Dimensional Global Value Fund2.1%
10WisdomTree Aluminium ETC (c)1.9%

Asset Allocation - Exposure

All figures up to: 30 June 2024

1Infrastructure21.80%
2Listed Equities14.70%
3Emerging Market Bonds12.30%
4Structured Finance11.90%
5Property10.50%
6Insurance Linked9.90%
7Commodities5.80%
8Cash and Equivalents5.60%
9Government Bonds3.90%
10High Yield Credit3.60%
11Active Rates and Currency-6.70%
Total 93%

Asset Allocation - Exposure

All figures up to: 30 June 2024

Total: 93%

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:

Filters

Insights

Viewing 18 of 18
  1. Multi Asset Q2 update

    The Multi Asset Team reflects on recent performance, portfolio changes and market developments.
    July 2024
    Video12 minutes
  2. The case for UK water investments

    Uncover the resilient UK water companies showcasing their growth prospects in the face of regulatory and environmental hurdles.
    July 2024
    Video10 minutes
  3. Japan: the land of the rising yield

    How Japan's changing economy is reshaping the Multi Asset investment landscape.
    May 2024
    Article4 minutes
  4. Multi Asset investment update

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

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

    An update on the portfolio, market environment and outlook for the year ahead.
    January 2024
    Video30 minutes
  7. 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
  8. Multi Asset: Investment process evolution

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

    Creating a high conviction, best ideas, global and unconstrained property portfolio.
    September 2023
    Article7 minutes
  10. Multi Asset Q3 investment update

    How is the portfolio adapting to risks and opportunities? Scott Lothian explains.
    October 2023
    Video32 minutes
  11. Why now for multi-asset investing

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

    Scott Lothian explains how Multi Asset is riding out the ups and downs of market volatility.
    April 2023
    Video31 minutes
  13. 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
  14. Why excess global savings matter

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

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

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

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

    David McIntyre and Calum Holt summarise their thoughts on the potential transformation of the European energy industry and how this is being embraced in our Multi Asset funds.
    April 2021
    Document

Multi Asset Q2 update

The Multi Asset Team reflects on recent performance, portfolio changes and market developments over the last quarter.

  1. Multi Asset Q2 update

    The Multi Asset Team reflects on recent performance, portfolio changes and market developments.
    July 2024
    Video12 minutes
  2. The case for UK water investments

    Uncover the resilient UK water companies showcasing their growth prospects in the face of regulatory and environmental hurdles.
    July 2024
    Video10 minutes
  3. Japan: the land of the rising yield

    How Japan's changing economy is reshaping the Multi Asset investment landscape.
    May 2024
    Article4 minutes
  4. Multi Asset investment update

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

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

    An update on the portfolio, market environment and outlook for the year ahead.
    January 2024
    Video30 minutes
  7. 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
  8. Multi Asset: Investment process evolution

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

    Creating a high conviction, best ideas, global and unconstrained property portfolio.
    September 2023
    Article7 minutes
  10. Multi Asset Q3 investment update

    How is the portfolio adapting to risks and opportunities? Scott Lothian explains.
    October 2023
    Video32 minutes
  11. Why now for multi-asset investing

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

    Scott Lothian explains how Multi Asset is riding out the ups and downs of market volatility.
    April 2023
    Video31 minutes
  13. 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
  14. Why excess global savings matter

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

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

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

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

    David McIntyre and Calum Holt summarise their thoughts on the potential transformation of the European energy industry and how this is being embraced in our Multi Asset funds.
    April 2021
    Document

Explore further

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

Important information

The content of this website is intended exclusively for professional investors in accordance with MiFID legislation. 'Professional investors' are potential investors who are deemed to have the status of “professional clients”, within the meaning of MiFID (2004/39/EC), as transposed in Ireland. It is not intended for retail investors.

Baillie Gifford Investment Management (Europe) Limited is authorised and regulated by the Central Bank of Ireland (Reference number C182354) as an Alternative Investment Fund Manager and UCITS Manager to Baillie Gifford Worldwide Funds plc. Its registered office is 4/5 School House Lane East, Dublin 2, D02 N279, Ireland.

This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.