Capital at risk

Investment strategy

Sustainable Multi Asset

We look to generate attractive returns over cash with low volatility, investing within a tight carbon budget in line with the Paris Agreement.  

Our wide opportunity set and diverse asset mix allows us to create flexible portfolios prepared for different economic conditions.  

Jungrau mountain peak during alpen glow at sunset. View from First, Grindelwald, Switzerland.

Limiting carbon, not growth

We offer a breadth of opportunity across a diverse range of asset classes, aiming to deliver attractive returns with lower volatility than equity markets and within a decreasing carbon budget.

Emphasising diversification

We seek to provide a diverse, actively managed portfolio with three equally weighted objectives of return, climate and risk.  

We take a broad opportunity set and turn it into a single fund with sustainable qualities. This offers clients an effective way to achieve diversification at lower volatility levels than equity markets. 

Our objectives: 

  • A return of 3.5 per cent more than UK base rate over rolling five-year periods and a positive return over rolling three-year periods 
  • A carbon footprint maintained below a budget which declines at 7 per cent per annum 
  • 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.

Looking to the future, not the past

We’ve been investing in multi-asset portfolios since 2009. We combine our macro views with themes that will drive markets in the long term to find the best opportunities.  

We also ask, "is this investment compatible with a sustainable economy?" and apply our expertise to construct a portfolio that incorporates:  

  • Macroeconomic views 
  • Long-term return expectations 
  • Risk and near-term scenario analysis 
  • ESG factors 

The result is a sustainable, research-led portfolio which seeks to generate value for clients throughout economic cycles.  

Change brings opportunities. Short-term changes can be as unpredictable as a river’s meander but by focusing on long-term trends we think it’s possible to figure out the likely 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 January 2024

#Holding% of portfolio
1Baillie Gifford Worldwide Sustainable Emerging Markets Bond Fund7.4%
2Baillie Gifford Emerging Markets Bond Fund6.8%
3Plutus CLO Fund3.6%
4Leadenhall UCITS ILS Fund3.4%
5Galene Fund3.1%
6Baillie Gifford Responsible Global Equity Income Fund2.7%
7Aegon ABS Opportunity Fund Acc2.7%
8UBS Cross Asset Trend Ex FF ETN2.6%
9Scottish Mortgage Investment Trust2.4%
10WisdomTree Aluminium ETC (c)2.0%

Strategy holdings by asset allocation

All figures up to: 31 January 2024

1Cash and Equivalents13.40%
2Structured Finance12.60%
3Infrastructure12.10%
4Listed Equities11.70%
5Property9.80%
6Emerging Market Bonds Hard Currency8.50%
7Government Bonds7.60%
8Emerging Market Bonds Local Currency6.80%
9Insurance Linked6.60%
10High Yield Credit4.60%
11Commodities3.60%
12Absolute Return2.60%
13Active Rates and Currency-3.40%
Total 96%

Strategy holdings by asset allocation

All figures up to: 31 January 2024

Total: 96%

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.