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 Q3 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: 31 October 2024

#Holding% of portfolio
1Leadenhall UCITS ILS Fund4.5%
2Baillie Gifford Emerging Markets Leading Companies Fund4.5%
3Baillie Gifford Long Term Global Growth Investment Fund2.6%
4Galene Fund2.6%
5Baillie Gifford Global Income Growth Fund2.5%
6UK T Bill 27/01/20252.2%
7Aegon ABS Opportunity Fund Acc2.1%
8Baillie Gifford Worldwide China A Shares Growth Fund2.0%
9SparkChange Physical Carbon ETC2.0%
103i Infrastructure1.9%

Asset Allocation - Exposure

As at: 31 October 2024

1Infrastructure24.80%
2Emerging Market Bonds15.00%
3Listed Equities14.40%
4Insurance Linked10.70%
5Property8.10%
6Structured Finance7.20%
7Cash and Equivalents6.80%
8Commodities6.80%
9Government Bonds4.20%
10High Yield Credit2.60%
11Special Opportunities1.20%
12Active Rates and Currency-24.80%
Total 76%

Asset Allocation - Exposure

All figures up to: 31 October 2024

Total: 76%

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 24 of 24
  1. Brightline private inter-city rail train in West Palm Beach in Florida, United States

    Too long to drive, too short to fly

    Meet the rail company reshaping high-speed intercity travel across the US.
    November 2024
    Article3 minutes
  2. The clean energy election

    Will the US election result affect investors in US renewables? Felix Amoako-Kwarteng finds out.
    October 2024
    Article7 minutes
  3. Resurgence of insurance-linked securities

    Exploring the ILS resurgence: capital cycle shifts, disaster impacts and sustainable economies
    October 2024
    Article4 minutes
  4. Multi Asset Q3 update

    The Multi Asset Team reflects on recent performance, portfolio changes and market developments.
    October 2024
    Video12 minutes
  5. The Climate Scenarios Project: part 2

    The impact of Disorderly Transition scenarios on macro indicators and market outcomes.
    September 2024
    Document
  6. Multi Asset Q2 update

    The Multi Asset Team reflects on recent performance, portfolio changes and market developments.
    July 2024
    Video12 minutes
  7. 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
  8. Japan: the land of the rising yield

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

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

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

    An update on the portfolio, market environment and outlook for the year ahead.
    January 2024
    Video30 minutes
  12. 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
  13. Multi Asset: Investment process evolution

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

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

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

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

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

    Scott Lothian explains how Multi Asset is riding out the ups and downs of market volatility.
    April 2023
    Video31 minutes
  19. 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
  20. Why excess global savings matter

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

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

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

    Are the days of productivity growth over? The Multi Asset Team does not think so.
    January 2023
    Article
  24. 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 Q3 update

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

  1. Brightline private inter-city rail train in West Palm Beach in Florida, United States

    Too long to drive, too short to fly

    Meet the rail company reshaping high-speed intercity travel across the US.
    November 2024
    Article3 minutes
  2. The clean energy election

    Will the US election result affect investors in US renewables? Felix Amoako-Kwarteng finds out.
    October 2024
    Article7 minutes
  3. Resurgence of insurance-linked securities

    Exploring the ILS resurgence: capital cycle shifts, disaster impacts and sustainable economies
    October 2024
    Article4 minutes
  4. Multi Asset Q3 update

    The Multi Asset Team reflects on recent performance, portfolio changes and market developments.
    October 2024
    Video12 minutes
  5. The Climate Scenarios Project: part 2

    The impact of Disorderly Transition scenarios on macro indicators and market outcomes.
    September 2024
    Document
  6. Multi Asset Q2 update

    The Multi Asset Team reflects on recent performance, portfolio changes and market developments.
    July 2024
    Video12 minutes
  7. 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
  8. Japan: the land of the rising yield

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

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

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

    An update on the portfolio, market environment and outlook for the year ahead.
    January 2024
    Video30 minutes
  12. 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
  13. Multi Asset: Investment process evolution

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

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

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

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

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

    Scott Lothian explains how Multi Asset is riding out the ups and downs of market volatility.
    April 2023
    Video31 minutes
  19. 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
  20. Why excess global savings matter

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

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

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

    Are the days of productivity growth over? The Multi Asset Team does not think so.
    January 2023
    Article
  24. 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 information on this website is intended for institutional investors and accredited investors (as defined in the Securities and Futures Act, Chapter 289 of Singapore, as amended) and consultants in Singapore only. It is not intended for use by any other persons including members of the general public or investors from other jurisdictions.
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 the United Kingdom's Financial Services and Markets Act 2000 or any conduct of business rules which we are bound to comply with. 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 Singapore.
Baillie Gifford Overseas Limited is wholly owned by Baillie Gifford & Co. Baillie Gifford Overseas Limited provides investment management and advisory services to non-UK clients. Both are authorised and regulated by the Financial Conduct Authority.
Baillie Gifford Asia (Singapore) Private Limited is wholly owned by Baillie Gifford Overseas Limited and holds a Capital Markets Services Licence from the Monetary Authority of Singapore to conduct fund management activities for institutional investors and accredited investors in Singapore. Baillie Gifford Asia (Singapore) Private Limited can be contacted at Singapore Land Tower, Level 46, Unit 4616-17, 50 Raffles Place, Singapore 048624.
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.