Capital at risk

Investment strategy

Pan Europe

Europe has no shortage of fantastic companies; it just takes a deeper look to find them.  

These companies can typically grow revenues faster than peers, expand their profit margins, have sustainable competitive advantages and are managed by exceptional capital allocators. By investing in them, we hope to deliver long-term capital appreciation for our clients. 

Electronics workers in clean room assembling electronic components.

Europe’s most exciting companies

We don’t want to own a collection of slightly better-than-average companies, instead we aspire to own Europe’s ‘outliers’ – special companies which have the potential to return a multiple of our investment. 

European Equities

Investment manager, Stephen Paice, discusses the Baillie Gifford approach to European Equities.

Searching for the best opportunities

Our objective is to outperform the MSCI Europe ex UK index by 2 to 3 per cent per annum over rolling five-year periods. We construct our portfolios according to where we think the best opportunities are, looking for the European outliers that we believe have significant potential. 

We are focused on investing for the long-term. All our thinking about stocks is based on what we think might happen over the next 5-10 years because outsized returns generally don’t happen overnight.

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.

Standing out from the crowd

We do not construct our portfolios in relation to the benchmark. As a result, we typically have a very high active share and look different to many of our peers. We think this gives us the best chance to deliver on our performance objectives for clients. 

We construct portfolios of 30-50 companies that we think have large growth opportunities. 

We know that a small number of companies tend to drive market and portfolio returns, but you have to be patient for compounding to work its magic.
Chris Davies

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. 

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.

Strategy portfolio holdings

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

All figures up to: 31 January 2024

#Holding% of portfolio
1Schibsted4.3%
2Prosus4.2%
3Ryanair3.8%
4Spotify3.6%
5Games Workshop3.6%
6Topicus.com3.5%
7ASML3.4%
8Atlas Copco3.3%
9Reply Spa3.1%
10Dassault Systemes2.8%

Strategy holdings by sector

All figures up to: 31 January 2024

1Industrials22.90%
2Consumer Discretionary21.30%
3Information Technology18.90%
4Financials14.80%
5Health Care10.70%
6Communication Services10.10%
7Consumer Staples0.60%
8Cash0.60%
Total 100%

Strategy holdings by sector

All figures up to: 31 January 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.

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

Please remember that all investment strategies have the potential for profit and loss and your or your clients’ capital may be at risk.
The information on this website is intended for institutional 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.
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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. You can read details of our Legal and Important Information here.