Multi Asset & Income (MA&I)
Invests across a range of different asset types. This could be corporate credit (innovative global companies), government debt (bonds from emerging countries), and multi asset (from private equity to commodity).
Is this the stream for you?
What is MA&I investing?
As the name suggests, the Multi Asset and Income (MA&I) department invests in a range of asset classes. Most of our analysts spend their time looking at bonds – the debt instruments that countries and companies issue to borrow money. Like most loans, these come with an interest rate – which is part of the return our clients make when they invest. Our clients will lose their capital if a bond isn’t repaid, so our research focuses on assessing the issuer’s future financial resilience.
The department is split into four main teams, each focusing on different asset classes. Two work with government debt and currencies: the Emerging Market Debt team, who look at emerging countries like India, China or Brazil, and the Global Rates & Currencies team, who focus on more developed economies, including the USA and Western Europe. The Credit team invests in company bonds, from the largest companies in the world to smaller privately-owned businesses. And finally, the Multi Asset Team invests in a broad range of asset types, from bonds and equities, to commodities and real estate.
The analyst role at Baillie Gifford is interdisciplinary and autonomous. This allows you to shape your own opportunity around your own artistry.
This three-year programme offers experience in a range of asset classes. You’ll get started with a month’s induction on our investment culture, along with the main factors and resources to consider in your research. At the same time, you will receive bespoke training developed with Moody’s, offering further insights into investing in credit, property, and sovereign bonds.
You’ll have three one-year placements: one with the Credit team, one with the Multi Asset team and one with either the Emerging Market Debt or the Global Rates & Currencies teams. Because the work is about evaluating if a company or country can pay back the loan and interest, our focus is on potential risks and whether the bond is accurately valued.
As you rotate through the different teams, you’ll learn more about our funds like the Strategic Bond, Emerging Market Bonds and Diversified Growth. On each rotation, you’ll contribute to the team’s research, considering both micro and macro-economic factors, and support the Fund Managers, looking at new issues and existing bonds – whether offering an initial opinion within a few days or producing an in-depth report over a couple of weeks or months.
Important: This programme is closed for applicants in 2024.
Multi asset and income programme timeline
Keep in mind
Our clients will lose their capital if a bond isn’t repaid, so our research focuses on assessing the issuer’s future financial resilience.