Capital at risk
Investment Stewardship Activities Report
In line with the UK Stewardship Code 2026 (the Code),
this report outlines our key stewardship activities and
outcomes from 2025. It should be read alongside Our
Stewardship Principles and Guidelines, which sets out our
approach and serves as our policy and context disclosure
under the Code.
Our principles
Our stewardship approach is guided by clear principles rather than prescriptive policies. This supports
informed, proportionate engagement with holdings in our clients’ best interests. It also enables our
investment teams to exercise judgment to act in line with each company's individual circumstances and
long-term prospects.
Explore the report
The report is divided into sections that can be read together or explored individually. Use the links below to
explore each one.
Welcome
At Baillie Gifford, stewardship means being thoughtful, active and responsible investors on behalf of our clients.
Stewardship in action
See how our principles are applied across regions.
Proxy voting
Voting is a core part of our role as responsible stewards of our clients’ capital.
Engagements
We engage actively with holdings on clients' behalf, using that dialogue as an important input into our investment research.
Promoting well-functioning markets
We take market-wide and systemic risks into account in stewardship decisions, in line with clients' expectations.
Our year in stewardship
This report brings together our stewardship activity during 2025. It provides an overview of our proxy voting and engagement activity on behalf of clients, alongside updates on areas such as escalated engagements, conflicts of interest and our engagement with third‑party service providers. It sets out the activity in more detail, guided by our stewardship principles and the requirements of the UK Stewardship Code.
Previous reports
Important information
Baillie Gifford Overseas Limited provides investment management and advisory services to non-UK clients and is authorised and regulated by the UK Financial Conduct Authority. Baillie Gifford Overseas Limited is not licensed under the Regulation of Investment Advising, Investment Marketing and Portfolio Management Law, 5755-1995 (the “Advice Law”) and does not carry insurance pursuant to the Advice Law.
Baillie Gifford Overseas Limited markets and distributes Baillie Gifford’s range of collective investment schemes to Qualified Clients and Qualified Investors in Israel, as listed in the First Addendum to the Regulation of Investment Advising, Investment Marketing and Portfolio Management Law, 5755-1995 (the “Advice Law”) and in the First Addendum to the Israel Securities Law, 5728-1968 (the “Securities Law”). Detailed disclosure of the collective investment schemes can be found within this website and in the relevant scheme prospectus.
Baillie Gifford Overseas Limited does not provide investment advice. If you are in any doubt about whether an investment is suitable, you should seek independent advice.
No action has been or will be taken in Israel that would permit a public offering or distribution of the Funds mentioned in this website to the public in Israel. This website and the Funds mentioned herein have not been approved by the Israeli Securities Authority (the “ISA”). In addition, the Funds mentioned in this website are not regulated under the provisions of Israel’s Joint Investment Trusts law, 5754-1994 (the “Joint Investment Trusts Law”). This website and the Funds mentioned herein will only be distributed to Israeli residents in reliance on an exemption from any advice or marketing restrictions [in a manner that will not constitute “an offer to the public” under sections 15 and 15a of]/[in reliance on an exemption from the prospectus requirements under] the Israel Securities Law, 5728-1968 (the “Securities Law”) or the Joint Investment Trusts Law, and any guidelines, pronouncements or rulings issued from time to time by the ISA as applicable.
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