Capital at risk

Investment strategy

EAFE Plus All Cap

Our philosophy is based on three core beliefs: that superior profit growth leads to outperformance in the long run, that fundamental analysis enables exploitation of market inefficiencies and that share prices reflect fundamentals over the long term. 

An aerial view of a surfer at the end of a rolling wave.

Active growth for 30 years

An international portfolio supported by firmwide research and that follows a consistent investment philosophy and process. We believe that stock markets have a recurring tendency to underappreciate the value of long-term compound growth. 

International All Cap Q2 update

The International All Cap Team reflects on recent performance, portfolio changes and market developments.

Different from the market

We look to invest in businesses that exhibit some combination of sustained, above-average growth and strong competitive advantage, such as superior profit margins or returns on invested capital.  

We aim to take advantage of this by investing with a minimum time horizon of five years in mind, a period that we think is long enough for share price moves to reflect the economic value of the underlying assets. 

Our philosophy and approach aim to offer strong tailwinds to growth and attractive returns and is aligned management teams. 

Enduring strategy

Embracing different types of growth results in an eclectic mix of businesses. We aim for a balance of growth, quality and resilience. 

We also take great pride in drawing from firmwide research to bring the best international ideas to the portfolio.  

The strategy’s 33-year track record has outlived personnel changes by following a consistent investment philosophy.

The result of our bottom-up stock picking approach is a portfolio that is tilted towards the lower end of the benchmark’s market cap range. We think this is a fertile hunting ground for focused, well-run growth companies.

We are long-term in our approach and focused on identifying the structural growth drivers that could deliver strong returns for our clients over the coming decades.
Joe Faraday

Meet the managers

Documents

Stewardship report

Find out about our conversations with portfolio companies, shareholder vote activity and consideration of environmental, social and governance matters.

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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 June 2024

#Holding% of portfolio
1TSMC4.54
2ASML4.28
3Atlas Copco3.93
4United Overseas Bank2.96
5Auto Trader2.93
6Investor2.92
7Experian2.54
8MercadoLibre2.35
9Richemont2.10
10Lonza2.03

Strategy holdings by sector

As at: 31 August 2024

1Industrials24.59%
2Financials15.91%
3Information Technology15.42%
4Consumer Discretionary13.09%
5Consumer Staples10.98%
6Health Care7.97%
7Communication Services6.98%
8Materials3.64%
9Cash0.90%
10Energy0.50%
Total 100%

Strategy holdings by sector

All figures up to: 31 August 2024

Total: 100%

Strategy holdings by region

As at: 31 August 2024

1Europe (ex UK)39.36%
2Developed Asia Pacific26.15%
3UK20.26%
4Emerging Markets13.32%
5Cash0.90%
Total 100%

Strategy holdings by region

All figures up to: 31 August 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.

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 10 of 10
  1. Wise: Growing global money transfers

    Charting rising cross-border money payments and the opportunity for remittance service Wise.
    August 2024
    Article6 minutes
  2. International All Cap Q2 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    July 2024
    Video10 minutes
  3. Tilting the odds in your favour

    The Magnificent Seven’s reputation goes before them but that’s not enough to save them.
    April 2024
    Article8 minutes
  4. International All Cap Q1 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    April 2024
    Video21 minutes
  5. 왜 지금 성장인가?

    어려운 시기에 발휘되는 파트너십 지배구조의 강점: 급격한 변화 속에서 적응하고 성장할 수 있는 이유에 대해 분석합니다.
    2024년 3월
    Document17분
  6. International All Cap Q4 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    January 2024
    Video13 minutes
  7. Ashtead: hiding in plain sight

    This little-known equipment rental company is one of the UK’s most exciting growth stories.
    December 2023
    Article5 minutes
  8. 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
  9. International All Cap Q3 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    October 2023
    Video14 minutes
  10. International All Cap Q2 update

    The International All Cap team reflects on recent performance, portfolio changes, and market developments.
    July 2023
    Video12 minutes

International All Cap Q2 update

The International All Cap Team reflects on recent performance, portfolio changes and market developments.

  1. Wise: Growing global money transfers

    Charting rising cross-border money payments and the opportunity for remittance service Wise.
    August 2024
    Article6 minutes
  2. International All Cap Q2 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    July 2024
    Video10 minutes
  3. Tilting the odds in your favour

    The Magnificent Seven’s reputation goes before them but that’s not enough to save them.
    April 2024
    Article8 minutes
  4. International All Cap Q1 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    April 2024
    Video21 minutes
  5. 왜 지금 성장인가?

    어려운 시기에 발휘되는 파트너십 지배구조의 강점: 급격한 변화 속에서 적응하고 성장할 수 있는 이유에 대해 분석합니다.
    2024년 3월
    Document17분
  6. International All Cap Q4 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    January 2024
    Video13 minutes
  7. Ashtead: hiding in plain sight

    This little-known equipment rental company is one of the UK’s most exciting growth stories.
    December 2023
    Article5 minutes
  8. 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
  9. International All Cap Q3 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    October 2023
    Video14 minutes
  10. International All Cap Q2 update

    The International All Cap team reflects on recent performance, portfolio changes, and market developments.
    July 2023
    Video12 minutes

Explore further

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

Explore further

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

Important information

By clicking on South Korea, you have confirmed that you are based in South Korea and that you meet the following requirements.

The information in this area of the website is intended for qualified professional investors and consultants based in South Korea. It is not intended for use by any other persons including members of the general public or investors from other jurisdictions.

Please remember that all investment strategies have the potential for profit and loss and your or your clients’ capital may be at risk.

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 Overseas Limited is licensed with the Financial Services Commission in South Korea as a cross border Discretionary Investment Manager and Non-Discretionary Investment Adviser.

Baillie Gifford Asia (Hong Kong) Limited 柏基亞洲(香港)有限公司 is wholly owned by Baillie Gifford Overseas Limited and holds a Type 1 licence from the Securities and Futures Commission of Hong Kong to market and distribute Baillie Gifford’s range of collective investment schemes to professional investors in Hong Kong.
Baillie Gifford Asia (Hong Kong) Limited 柏基亞洲(香港)有限公司 can be contacted at Suites 2713-2715, Two International Finance Centre, 8 Finance Street, Central, Hong Kong, Telephone +852 3756 5700.

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