Capital at risk

Investment strategy

Global Income Growth

Long-term dividend compounding is the eighth wonder of the world.  

We focus on companies that can compound earnings and dividends effectively over long periods. These are rare but can deliver attractive returns.

Three intrepid cyclists exploring scenic mountain trails on their high-performance bike.

For a lifetime of income, choose growth

Whether you require an income today and for years to come or are simply looking for attractive capital growth and total returns over the long term, dividend growth investing might be what you’re looking for. 

Global Income Growth Q1 update

The Global Income Growth Team reflects on recent performance, portfolio changes and market developments.

A truly long-term approach

We aim to deliver a dependable income and real growth in dividends and capital over the long term. 

We believe the best way to meet these objectives is to invest in companies that can pay dependable dividends across the cycle and have the prospect of real growth in profits, which will, in turn, lead to growth in dividends and capital.  

Such companies are rare and highly attractive to a client who needs income today and is also seeking capital appreciation well into the future. 

Resilient and dependable dividends

Our portfolio is a selection of carefully selected dividend-paying companies with attractive growth prospects and resilient businesses.

The strategy is managed with a growth mindset and a lengthy investment time horizon. We focus on dividend growth, not short-term yield.

The companies we hold support real growth in dividends, and they typically have resilient business models that provide stability at times of market volatility.

With many investors fixated on the short-term, our long-term focus gives us the opportunity to invest into mispriced dividend-growing companies.
Ross Mathison

Meet the managers

Documents

Philosophy and process

Explore our investment philosophy and the processes around how the team constructs the portfolio.

Quarterly update

Get the latest investment commentary, portfolio overview, transactions and performance information alongside governance engagement and voting. 

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You can invest in this strategy through the following fund(s).

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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: 30 April 2024

#Holding% of portfolio
1Watsco4.2%
2Novo Nordisk4.2%
3Microsoft4.1%
4TSMC3.6%
5Fastenal3.6%
6Procter & Gamble3.3%
7Atlas Copco3.0%
8Partners2.9%
9Schneider Electric2.8%
10PepsiCo2.7%

Strategy holdings by sector

All figures up to: 30 April 2024

1Industrials23.00%
2Information Technology19.10%
3Financials15.70%
4Consumer Staples15.30%
5Health Care10.40%
6Consumer Discretionary9.60%
7Communication Services3.50%
8Utilities1.10%
9Materials1.10%
10Cash1.10%
Total 100%

Strategy holdings by sector

All figures up to: 30 April 2024

Total: 100%

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.

Invest in this strategy

You can invest in this strategy through the following fund(s).

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:

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Insights

Viewing 19 of 19
  1. Global Income Growth Q1 update

    The Global Income Growth Team reflects on recent performance, portfolio changes and market developments.
    April 2024
    Video10 minutes
  2. Novo Nordisk: tipping the scales

    Charting how a century of innovation led to a game-changing weight-loss treatment.
    March 2024
    Article4 minutes
  3. How dividend growth signals compounding

    Investor James Dow explains why dividend growth indicates a company can compound its earnings.
    February 2024
    Article5 minutes
  4. A new recipe for weight loss

    The huge growth potential of Novo Nordisk’s anti-obesity medicines.
    February 2024
    Article27 minutes
  5. Albemarle: salt flats and social responsibility

    Why the lithium giant Albemarle engages in research and data monitoring.
    February 2024
    Article4 minutes
  6. Global Income Growth Q4 update

    The Global Income Growth Team reflects on recent performance, portfolio changes and market developments.
    January 2024
    Video14 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. Global Income Growth Q3 update

    The Global Income Growth Team reflects on recent performance, portfolio changes and market developments.
    October 2023
    Video11 minutes
  9. TSMC’s decarbonisation dilemmas

    TSMC’s progress in securing greener energy supplies in Taiwan.
    July 2023
    Article
  10. Global Income Growth Q2 update

    The Global Income Growth team reflects on recent performance, portfolio changes, and market developments.
    July 2023
    Video11 minutes
  11. Resilient growth for the long term

    Why long-term growth firms such as battery-maker Albemarle and data aggregator Experian are the ones to watch.
    January 2023
    Video4 minutes
  12. Impact, Ambition and Trust

    If ESG scores are not the answer, how does Global Income Growth Team’s ESG approach measure up?
    May 2022
    Article
  13. Global Income Growth

    Some people look at life as sustaining the now, while sowing the seeds for a better tomorrow. Global Income Growth think the same way. In this film we explore their philosophy and how when searching for a lifetime of income, they choose growth.
    January 2022
    Video2 minutes
  14. Actual Income

    Client Director Jan Oliver hosts a webinar on Baillie Gifford’s Income solutions. She is joined by James Dow, Torcail Stewart and Steven Hay, investment managers on our Global Income Growth Strategy, our Strategic Bond Strategy and our Multi Asset Income Strategy respectively.
    July 2021
    Video54 minutes
  15. From crisis to opportunity

    We call our methodology long-term income, not short-term yield. In this paper we share our experience of picking stocks using this growth-focused approach. We explain why we think the best is yet to come for this approach. And we highlight three simple questions we ask of any company when picking stocks for our income-growth portfolio.
    April 2021
    Document
  16. Highlights video: beyond the great dividend crisis

    In this recording, Investment Specialist Seb Petit highlights the main takeaways from a recent webinar with James Dow and Toby Ross, co-heads of the Global Income Growth Team. Dow and Ross outline how a long-term approach and a growth mindset helped them navigate the great dividend crisis of 2020.
    March 2021
    Video0 minute
  17. Tomorrow’s income aristocrats

    Income investing has been shaken by the coronavirus, but how will this affect the dividend payers of the future? Baillie Gifford investment manager James Dow gives us a glimpse of the potential star performers of tomorrow.
    July 2020
    Video15 minutes
  18. Navigating the Great Dividend Crisis.

    Co-head of the Baillie Gifford Equity Income Team James Dow delivers a webinar giving insight into his thoughts on how investors can navigate the current global dividend crisis.
    July 2020
    Video0 minute
  19. Income through a growth lens

    Toby Ross shows how Baillie Gifford’s growth approach to income investing, starts from a very different philosophical position compared with our peers. Take a look from a different angle.
    February 2020
    Document

Global Income Growth Q1 update

The Global Income Growth Team reflects on recent performance, portfolio changes and market developments.

  1. Global Income Growth Q1 update

    The Global Income Growth Team reflects on recent performance, portfolio changes and market developments.
    April 2024
    Video10 minutes
  2. Novo Nordisk: tipping the scales

    Charting how a century of innovation led to a game-changing weight-loss treatment.
    March 2024
    Article4 minutes
  3. How dividend growth signals compounding

    Investor James Dow explains why dividend growth indicates a company can compound its earnings.
    February 2024
    Article5 minutes
  4. A new recipe for weight loss

    The huge growth potential of Novo Nordisk’s anti-obesity medicines.
    February 2024
    Article27 minutes
  5. Albemarle: salt flats and social responsibility

    Why the lithium giant Albemarle engages in research and data monitoring.
    February 2024
    Article4 minutes
  6. Global Income Growth Q4 update

    The Global Income Growth Team reflects on recent performance, portfolio changes and market developments.
    January 2024
    Video14 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. Global Income Growth Q3 update

    The Global Income Growth Team reflects on recent performance, portfolio changes and market developments.
    October 2023
    Video11 minutes
  9. TSMC’s decarbonisation dilemmas

    TSMC’s progress in securing greener energy supplies in Taiwan.
    July 2023
    Article
  10. Global Income Growth Q2 update

    The Global Income Growth team reflects on recent performance, portfolio changes, and market developments.
    July 2023
    Video11 minutes
  11. Resilient growth for the long term

    Why long-term growth firms such as battery-maker Albemarle and data aggregator Experian are the ones to watch.
    January 2023
    Video4 minutes
  12. Impact, Ambition and Trust

    If ESG scores are not the answer, how does Global Income Growth Team’s ESG approach measure up?
    May 2022
    Article
  13. Global Income Growth

    Some people look at life as sustaining the now, while sowing the seeds for a better tomorrow. Global Income Growth think the same way. In this film we explore their philosophy and how when searching for a lifetime of income, they choose growth.
    January 2022
    Video2 minutes
  14. Actual Income

    Client Director Jan Oliver hosts a webinar on Baillie Gifford’s Income solutions. She is joined by James Dow, Torcail Stewart and Steven Hay, investment managers on our Global Income Growth Strategy, our Strategic Bond Strategy and our Multi Asset Income Strategy respectively.
    July 2021
    Video54 minutes
  15. From crisis to opportunity

    We call our methodology long-term income, not short-term yield. In this paper we share our experience of picking stocks using this growth-focused approach. We explain why we think the best is yet to come for this approach. And we highlight three simple questions we ask of any company when picking stocks for our income-growth portfolio.
    April 2021
    Document
  16. Highlights video: beyond the great dividend crisis

    In this recording, Investment Specialist Seb Petit highlights the main takeaways from a recent webinar with James Dow and Toby Ross, co-heads of the Global Income Growth Team. Dow and Ross outline how a long-term approach and a growth mindset helped them navigate the great dividend crisis of 2020.
    March 2021
    Video0 minute
  17. Tomorrow’s income aristocrats

    Income investing has been shaken by the coronavirus, but how will this affect the dividend payers of the future? Baillie Gifford investment manager James Dow gives us a glimpse of the potential star performers of tomorrow.
    July 2020
    Video15 minutes
  18. Navigating the Great Dividend Crisis.

    Co-head of the Baillie Gifford Equity Income Team James Dow delivers a webinar giving insight into his thoughts on how investors can navigate the current global dividend crisis.
    July 2020
    Video0 minute
  19. Income through a growth lens

    Toby Ross shows how Baillie Gifford’s growth approach to income investing, starts from a very different philosophical position compared with our peers. Take a look from a different angle.
    February 2020
    Document

Invest in this strategy

You can invest in this strategy through the following fund(s).

Explore further

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

How to invest in this strategy

You can invest in this strategy through the following fund(s).

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.