Capital at risk

Investment strategy

Global Alpha Paris Aligned

We aim to own companies with the potential to deliver superior earnings growth in line with the Paris Agreement. The portfolio is global, and our research draws on the insights of the entire investment floor.

One man exploring beautiful Ice cave close to Jokulsarlon Glacier Lagoon.

Investing with a purpose

An ambitious approach to investing in exceptional growth companies from across the spectrum of opportunity, consistent with addressing the climate crisis. The portfolio is truly global, and our research draws on the insights of the investment floor.

Global Alpha

Investment manager, Helen Xiong, discusses Global Alpha.

High growth, low emissions

We aim to identify companies which can grow their earnings at a superior rate to the market over a sustained period, with prices which don’t reflect their potential. As share prices are ultimately driven by earnings growth, this approach underpins our objective to deliver returns of 2 to 3 per cent per annum ahead of the benchmark over rolling five-year periods before the deduction of fees. The strategy also commits to maintaining a Weighted Average Greenhouse Gas Intensity lower than the MSCI ACWI EU Paris Aligned Requirements Index, attempting to limit the rise in global temperatures to 1.5 degrees.

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.

Decarbonising with diversity

Our philosophy is to invest long-term in well-managed businesses with sustainable competitive advantages. We embrace diversity, splitting the portfolio across three growth profiles – compounders, disruptors and capital allocators – which seek to exploit different inefficiencies. Each holding is analysed to ensure consistency with the transition to a low-carbon economy. The resulting portfolio of around 90 holdings represents the most attractive opportunities aligned with ambitious decarbonisation goals.

For me, open-mindedness, imagination and the ability to embrace change are essential for long-term growth investors.
Malcolm MacColl

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. 

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You can invest in this strategy through the following fund(s).

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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: 31 January 2024

#Holding% of portfolio
1Microsoft5.1%
2Amazon.com4.1%
3Meta Platforms3.9%
4Elevance Health Inc.3.7%
5Moody's3.4%
6Mastercard2.7%
7Service Corporation International2.4%
8Prosus2.3%
9Alphabet2.3%
10CRH2.2%

Strategy holdings by region

All figures up to: 31 January 2024

1North America66.30%
2Europe (ex UK)16.80%
3Emerging Markets9.10%
4Developed Asia Pacific6.70%
5UK0.90%
6Cash0.10%
Total 100%

Strategy holdings by region

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.