The oddities of the pandemic will fade, some long-running shifts in our economy will have been accelerated and the stresses we have experienced will spark new waves of innovation.

Pension Awareness Day was on 15 September but the messages from it transcend a specific date in time. Capital Hill takes a walk on the road to retirement riches.

Featuring the news and views of the teams involved in running our funds

Milena Mileva, joint manager of the Baillie Gifford UK Growth Fund talks about Games Workshop – a firm with a fanatical following.

Ferrari owners want to wake the neighbours with the thunderous throttle of their car’s internal combustion engine. If that goes in the shift to greener and quieter motor technology, will the car still be worthy of the prancing horse’s name? Most definitely so, according to Ferrari’s CEO, Louis Camilleri.

Few things matter more to an investor than understanding and anticipating change. As we celebrate 15 years of Global Alpha, we share some thoughts on how the portfolio, our process and the team have developed over time.

Traditions die hard in Japan, but a crisis often sparks accelerated change and innovation. Praveen Kumar, manager of Baillie Gifford Shin Nippon and deputy manager of the Baillie Gifford Japan Trust, talks about the upstarts making inroads.

Prevented from criss-crossing the globe in search of exciting young companies, Douglas Brodie, manager of Edinburgh Worldwide Investment Trust, reflects on life under lockdown.

After navigating the treacherous waters of the dividend crisis James Dow, joint manager of SAINTS, says it’s time to look east for income opportunities.

Gary Robinson, Baillie Gifford US Growth Trust joint manager, on how Shopify conquered the web.

How does a company de-age? Jared Anderson thinks about how Japanese companies are changing their working practices to meet modern expectations.

Client Director Alex Blake talks to lead manager of The Baillie Gifford Japan Trust Matthew Brett about the past year, the current positioning of the portfolio and opportunities ahead.

This webinar, moderated by Mark Urquhart, head of our Long Term Global Growth Team, includes an update from the STOPCOVID team based at Edinburgh University. STOPCOVID is a global initiative to harness and progress medical science across sectors to improve treatments and end the pandemic. We hear from Kev Dhaliwal, Professor of Molecular Imaging and Healthcare Technology and Honorary Consultant in Respiratory Medicine.

Ewan Markson-Brown, investment manager of the Pacific Horizon Investment Trust PLC, gives an update on the portfolio and explains why, when looking to the future, the only thing to fear is fear itself.

The starting point for investing in biotechs is science that is credible, scalable and differentiated. But that on its own does not guarantee a commercially successful business. The Health Innovation Team share their approach to investing in biotech at a time when the pace of innovation is exploding and the possibilities are endless.

Client director Jon Henry talks through the highlights of the recent Global Alpha webinar on ‘Mental Models’, a concept introduced earlier this year in the Global Alpha Research Agenda. In this webinar, client director Ben Drury talked to Global Alpha investment managers Helen Xiong and Malcolm MacColl about mental models and how they are incorporated into the team’s investment research process.

Baillie Gifford’s Charles Plowden, manager of the Monks Investment Trust, hails a firm whose ambitions match the vastness of the subcontinent of India.

Tom Slater, Scottish Mortgage Investment Trust joint manager, on how companies that can take the pain out of online payments are reaping big benefits.

There’s no such thing as a big European tech platform, or is there? Chris Davies explores the rise of European platform businesses, questioning whether they are coming of age.

China has defied recession in 2020, but where to now? Investment manager Roderick Snell anticipates big things ahead.

China has defied recession in 2020, but where to now? Investment manager Roderick Snell anticipates big things ahead.

Sophie Earnshaw and Roderick Snell, joint managers of the new Baillie Gifford China Growth Trust, discuss some of their favourite Chinese firms.

It’s time to stop looking in the rear-view mirror when it comes to emerging markets. Conventional wisdom always extrapolates recent experience, but after a decade in which both economic growth and equity returns have been lacklustre relative to the rest of the world – and with relative valuations now back at multi-decade lows – we worry that investors have badly misunderstood the depth of the transformation that has been taking place in our asset class.

James Anderson, joint manager of Scottish Mortgage Investment Trust, looks back on how, amid all the coronavirus disruption, the case for growth stocks strengthened as the crisis unfolded.

Recovering from Covid-19 may come to be seen as a turning point for Asia’s rising economies, writes Ewan Markson-Brown in his 2020 Manager’s Review for Pacific Horizon Investment Trust.

Has the pandemic ushered in a return of mid-20th century economics? With unprecedented stimulus replacing austerity, David McIntyre argues that monetary policy has given way to fiscal policy, creating new opportunities for multi asset portfolios.

With valuation formulas found wanting once again, Mark Urquhart writes in praise of uncertainty.

With plastics production set to double in the next 20 years and almost quadruple by 2050, the Positive Change Team considers whether a circular plastics economy could be the answer and what investment opportunities it might bring.

Members of the Japanese Equities Team explain the philosophy and processes of the strategies that exist within Baillie Gifford’s Japanese Equities capabilities.

Gary Robinson, co-manager of the Baillie Gifford US Growth Trust, explains why he thinks the major behavioural shifts we’ve seen in recent time are here to stay, and talks about which opportunities in particular he is most excited about.

Julia Angeles, investment manager on the Health Innovation Team, speaks to Claire Bell, former newspaper journalist and inquisitive researcher for Baillie Gifford. Angeles and Bell discuss the hot topics of data, artificial intelligence and ethics.

More of us are living longer, staying healthier for longer and working for longer. What are the implications for investing and financing this longer life? Listen to Baillie Gifford’s Steven Hay to find out.

Roderick Snell and Sophie Earnshaw, co-managers of the China Growth Trust talk to Alex Blake, Investment Trusts Director, on why we’re excited about China, why we believe Baillie Gifford is the right manager for the trust, and what our investment approach will look like.

Integrating ESG into company research requires rigour, nuance and a long-term perspective says Marianne Harper Gow.

Companies become more efficient as they grow. In the past, that involved big capital outlays and was bad news for challengers. However, as Gary Robinson, manager of the Baillie Gifford American Fund and the Baillie Gifford US Growth Trust explains, entrepreneurs can now rent the essential tools from cloud platforms, enabling them to compete more easily.

The most dangerous thing about a car is its driver. Automotive supply company Aptiv is developing advanced technology to make driving safer, greener, and even, driverless.

Roderick Snell and Sophie Earnshaw, co-managers of the China Growth Trust explain why they are excited about China, why they believe Baillie Gifford is the right manager for the trust, and what their investment approach will look like.

Jon Henry, client director, talks to Charles Plowden and Spencer Adair, investment managers on the Global Alpha Team, about their investment approach, the performance of Monks, how the Trust is positioned and what we are excited about moving forward.

While some see capitalism as the problem, Lee Qian, joint manager of Baillie Gifford’s Positive Change Fund, sees it as the solution to many of the pressing problems society faces. He tells Iona Bain why.

What do we mean by impact investing and can it really deliver? Kate Fox, joint manager of Baillie Gifford’s Positive Change Fund, talks to Iona Bain.

Everyone wants to make a difference, and capital thoughtfully and responsibly deployed is a powerful mechanism for change. In seeking out companies whose products and services are providing solutions to global challenges, we believe a proactive investment approach can also be the basis of attractive investment returns. Investment Managers Kate Fox and Lee Qian explain why positive change really matters.

Ben Drury, client director, talks to Helen Xiong, an investor and soon-to-be key decision maker for the Global Alpha strategy. Helen explains what she has learnt from her past experience with Baillie Gifford, what she will bring to the team in her new role, and what she is excited about moving forward.

What do we mean by impact investing and can it really deliver? Kate Fox, joint manager of Baillie Gifford’s Positive Change Fund, talks to Iona Bain.

Long-Term Return Expectations sets out the Multi Asset Team’s views, as at 30 June 2020, on the prospective returns for asset classes over cash, over the next 10 years and beyond.

News of a capital gains tax review comes as little surprise as the government looks to recoup vast sums spent supporting the economy during the Covid-19 pandemic. With people’s purse strings also affected, Capital Hill reports what steps could be taken.

Three decades into running dedicated Asian ex Japan portfolios, what is it that we can see that the market does not? We explain how our investment approach – the search for fat tails – allows us to exploit persistent market inefficiencies to the benefit of our clients.

Featuring the news and views of the teams involved in running our funds.

Income investing has been shaken by the coronavirus, but how will this affect the dividend payers of the future? Baillie Gifford investment manager James Dow gives us a glimpse of the potential star performers of tomorrow.

The recent decimation of dividends has highlighted the challenge in finding reliable sources of income in a post-pandemic world. Paul Roberts argues that the crisis should prompt investors to look beyond yesterday’s high-yielders, and to seek out a more diverse and resilient set of long-term income-paying assets.

Income investing has been shaken by the coronavirus, but how will this affect the dividend payers of the future? Baillie Gifford investment manager James Dow gives us a glimpse of the potential star performers of tomorrow.

History is peppered with crises and crashes. Capital Hill charts financial crashes – from the bursting of the tulip bulb bubble in 1637 to the present day. How did markets recover and what can investors learn from history?

Investment manager Iain McCombie gives an update on the positioning and activity of the Baillie Gifford UK Growth Fund portfolio.

One ought to be an optimist to invest in Emerging Markets, but so very few analysts are. Baillie Gifford’s Emerging Markets team explain how they fly in the face of market inefficiencies in their search for excess returns.

Kevin Mitchell, client manager, hosts a webinar with Torcail Stewart and Lesley Dunn, co-managers of the Strategic Bond Fund, in which an update on the fund is given and questions from clients are answered.

Steven Hay explains why the Multi Asset Income Team are looking forward with optimism, preferring to focus on areas where ‘great’ is used to describe the scale of the income opportunity rather than as an adjective describing the scale of this dividend crisis.

Charles Plowden explains how long-term stewardship is one of the four golden threads that weaves together to form the Global Alpha investment strategy.

Charles Plowden explains how long-term stewardship is one of the four golden threads that weaves together to form the Monks investment strategy.

Co-head of the Baillie Gifford Equity Income Team James Dow delivers a webinar giving insight into his thoughts on how investors can navigate the current global dividend crisis.

For Full Year 2019, updating on contributions towards a more sustainable and inclusive world.

This webinar has been prepared solely for the use of professional investors outside of the Unites States and is not for further distribution. Baillie Gifford takes no responsibility for the reliance on this webinar by any other person who did not receive this webinar from Baillie Gifford.

The AGM of Scottish Mortgage Investment Trust took place on 25 June 2020.

In a world of disruption, it's the winners that matter.

First to emerge from the coronavirus pandemic, the Asia ex Japan region is in robust health and its innovative companies are thriving. Roderick Snell surveys the Asian landscape and argues that Asia is where to look for superior long-term growth.

First to emerge from the coronavirus pandemic, the Asia ex Japan region is in robust health and its innovative companies are thriving. Roderick Snell surveys the Asian landscape and argues that Asia is where to look for superior long-term growth.

In this webinar, investment managers Kate Fox and Lee Qian speak to portfolio specialist Alison Cuthbert about the Positive Change strategy.

You can’t predict the future, but you can prepare for it by investing in those businesses that will help create it. Jenny Davis turns to history to provide some context as to why she believes the unsung heroes of the modern economy will be the titans of the future.

Technological developments over recent decades mean reality has outpaced the science fiction of his youth since Mark Urquhart joined Baillie Gifford almost 25 years ago. Now, scanning the Covid-19 driven global economy, he sets out his enthusiasm and expectations for the next decade and beyond.

Praveen Kumar, investment manager of Japanese Smaller Companies Fund and Baillie Gifford Shin Nippon PLC, explains how Covid-19 will accelerate changes in the behaviour and working practices of corporate Japan and why this should result in numerous growth opportunities for fast-growing, nimble and disruptive smaller business.

The true meaning of investment has been buried in a flurry of jargon, pseudo-science and fixation on quarterly results. Baillie Gifford partner Stuart Dunbar backs a return to basics.

In our Short Briefings on Long Term Thinking podcast, Baillie Gifford partner Stuart Dunbar backs a return to the basics of investment.

Dubbed the new electricity, artificial intelligence is intrinsic to the strategy and operations of many companies in the Long Term Global Growth portfolio. We look at how far artificial intelligence has come and consider where its superhuman ability to learn at speed will take us.

Featuring the news and views of the teams involved in running our funds.

Carlota Perez, British-Venezuelan researcher, lecturer and international consultant, presents on the paradigm shifts she observes in historical technological revolutions and what these shifts could mean for the future.

Stephen Paice, investment manager of the Baillie Gifford European Growth Trust plc, gives an update on the activity and current positioning of the portfolio.

Lucy Isles, investment manager, gives an update on the High Yield Bond Fund and how the team are not only offering support to companies in the short term, but also looking to the future and thinking about how companies will operate sustainably longer term.

It’s often listed companies that make the headlines but some of the most exciting investment opportunities are in private firms according to Scottish Mortgage Investment Trust’s Catharine Flood.

Goodbye Baidu, hello Bytedance. Tom Slater highlights those Scottish Mortgage holdings currently bringing disruptive innovation to the world.

As the world adapts to wrenching changes, James Anderson observes both human progress and stock markets that did not learn.

Appearances can be deceptive. Not least in the credit markets, where companies tainted by problems can end up producing attractive buying opportunities as they start to return to health. Co-op is just one example.

Ben James gives an update on the positioning and activity of the American Fund portfolio.

Roderick Snell, investment manager of the Pacific Fund and the Pacific Horizon Investment Trust PLC, gives an update on the portfolios and explains why he believes it’s time to look East.

Ben James gives an update on the positioning and activity of the Baillie Gifford US Growth Trust portfolio.

Growth stocks have generally fared better than value stocks during the coronavirus pandemic, helping Scottish Mortgage Investment Trust during the worst of the stock market falls. In our podcast series, Short Briefings on Long Term Thinking Baillie Gifford partner Tom Slater explains why.

Lucy Haddow, product specialist, gives an update on the Managed Fund and its position during these challenging times.

We’re living longer, but are we living better? Baillie Gifford’s Health Innovation team is searching for companies whose cutting-edge science and innovative therapies are redefining healthcare. Put simply, healthcare has never looked as good for those seeking more from their investment.

Growth stocks have generally fared better than value stocks during the coronavirus pandemic, helping Scottish Mortgage Investment Trust during the worst of the stock market falls. In our podcast series, Short Briefings on Long Term Thinking Baillie Gifford partner Tom Slater explains why.

The best investment advice doesn’t grow old. When former Baillie Gifford Partner Edward Hocknell wrote ‘How to Invest in Equities and Stay Sane’ back in 2012, ‘global pandemic’ was just one on a list of scenarios for business continuity managers and civil servants to plan for.

Yields at low or even negative rates have prompted questions about the relevance of investing in bonds. Phil Annen remains a fan. And he explains why, insisting this is an asset class that can still form a key part of an actively-managed, balanced portfolio and offer attractive returns.

Macro-noise is a risk to credit analysis. Our approach is simple, except in extreme circumstances, we take no view of it whatsoever.

Baillie Gifford’s first company-wide diversity and inclusion magazine about the individuals who make up our firm.

Baillie Gifford’s first company-wide diversity and inclusion magazine about the individuals who make up our firm.

Investment manager Toby Ross gives an update on the portfolio positioning as we deal with the current global pandemic.

Medical developments are increasingly dependent on technology. Baillie Gifford investors look at some of the more innovative companies and their importance in the current pandemic, as well as considering how the situation we are living through will lay the foundations for a new era in healthcare, underpinned by data.

Investment manager Toby Ross gives an update on The Scottish American Investment Company P.L.C.

Monks is firmly convinced that the only way to deliver superior investment returns for shareholders is to ignore the short-term whims of the market and focus instead on committing capital for long periods of time.

James Dow, co-head of Baillie Gifford’s equity income strategies, argues that dividend investors should avoid traditional high-yielding stocks, which are likely to disappoint given probable constraints on their reverting to the pre-crisis mean. The task, he concludes, is to look ahead to the global, high growth companies likely to be big providers of the future.

By investing long term in a select number of exceptional growth companies, SAINTS’ managers expect to generate superior capital returns over time, alongside a growing and dependable income stream.

Are the abrupt changes brought about by the coronavirus (Covid-19) temporary or permanent? Dave Bujnowski considers how a post-coronavirus future may look, and where the biggest changes might be.

James Anderson discusses what we can learn about the effects of the coronavirus. Drawing on the work of experts such as Hans Rosling, James explores the monetary and fiscal transformation we are going through, concluding that the days of neo-liberalism are numbered. James also looks at what the crisis means for equity investors, asking what investments are now more valuable, and assesses the shift of global power towards Asia.

The antiquated freight industry is set for a shake up as new tech-savvy players look to take a slice of what is a €5.6 trillion, and growing, industry.

In a time of great uncertainty, staying positive is easier said than done. Amidst the personal and professional challenges we all face, it can be hard to remain optimistic. Our experience of investing for Positive Change tells us that optimism is the only way forward.

Jon Henry, product specialist, gives an update on The Monks Investment Trust PLC and how the portfolio is positioned in the current climate.

In times of stress stock markets, like people, often revert to act now, think later. Tim Garratt advocates doing the opposite. He reflects calmly on four key areas which will determine a company’s ability to survive the coronavirus (Covid-19) meltdown, by offering grounds for quiet optimism.

The disruption caused by the coronavirus (Covid-19) pandemic extends far beyond the narrow world of investment but, as Catharine Flood explains, within that sphere Scottish Mortgage Investment Trust remains committed to patient investment, focused on the long-term and on companies with the most potential for future growth.

Baillie Gifford’s commitment to responsible stewardship is as old as our firm. Our clients trust us to oversee and manage their investments for the long term, and stewardship of their holdings is a core part of this commitment.

With a pandemic causing dramatic falls in global stock markets, these are anxious times for investors. But as Baillie Gifford partner Scott Nisbet explains in our podcast series Short Briefings on Long Term Thinking, the firm has witnessed similar shocks before.

Celebrating 15 years of Trust.

Over the last 20 years we have experienced several global crises, each different from the last, but with the same recurring lesson – that our long-term investment horizon, calm heads, and supportive client base, should see our Investment Trusts and Funds emerge from the current crisis at least as robustly as they entered it.

Investment managers Iain McCombie and Milena Mileva give some examples of companies within the UK portfolio that show exciting growth potential.

As the new decade dawns, James Anderson, joint manager of Scottish Mortgage Investment Trust, reflects on past predictions and ponders what’s next.

A new generation of entrepreneurs is changing the way South Korea does business. Ewan Markson-Brown, manager of Pacific Horizon Investment Trust, travelled to the country’s capital to meet them.

The genius of TikTok is not just its short and prolific content. Tom Slater, joint manager of Scottish Mortgage Investment Trust, talks to Jemima Kiss about how the Chinese social media company has achieved worldwide success.

Investment managers Stephen Paice and Moritz Sitte give some examples of European companies that tick all the boxes and show exciting growth potential.

Will Sutcliffe, Sophie Earnshaw and Mike Gush, investment managers in the Emerging Markets team with a combined total of 45 years’ experience, give an introduction to the team’s approach.

Malcolm Borthwick, managing editor at Baillie Gifford, talks to Rob Baltzer, joint manager of the High Yield Bond team. In this manager snapshot, Rob and Malcolm discuss headlines of the past, opportunities of the future and how we approach bond investing.

Malcolm Borthwick, managing editor at Baillie Gifford, talks to Torcail Stewart and Lesley Dunn, joint managers of the Strategic Bond team. In this manager snapshot, Torcail and Lesley discuss opportunities of the future, differentiation from competitors and tools they use to ensure effective stock picking.

Our annual business update 2020.

Featuring the news and views of the teams involved in running our funds.

Fifty years after Apollo 11, can a fresh wave of innovation in space technology open new frontiers and promising investment opportunities? Investment manager, Luke Ward looks across the gulf of space and gives us his views.

Long-Term Return Expectations sets out the Multi Asset team’s views, as at 31 December 2019, on the prospective returns for asset classes over cash over the next 10 years and beyond.

Investment manager James Dow gives un update on the The Scottish American Investment Company P.L.C.

In this series of articles, we highlight companies in the Scottish Mortgage portfolio that are taking technological advances to the next level, a new generation of companies who will reshape our world and what is possible in the years to come.

Investing in emerging markets is like Marmite. It divides opinion. Charles Plowden explains why he’s a fan in Baillie Gifford’s podcast Short Briefings on Long Term Thinking.

With their curiosity for learning undiminished, Monks’ investment managers share where they think their quest for learning will take them in the year ahead.

Investment managers Steven Hay and James Dow reflect on the first full year of the Multi Asset Income Fund.

Iain Campbell says investors with the patience and stability to avoid short-term thinking and ignore the noise are still quite rare - in an interview with Canada’s ‘Benefits and Pensions Monitor’.

Shareholders seem to be obsessed with short-term profits. We aren’t. Scott Nisbet proposes an alternative path, where patience with the right companies is rewarded, and a less direct route to profitability can lead eventually to a more valuable outcome.

James Anderson talks to leading US magazine, Barron’s, about the investment case for Spotify, Meituan-Dianping, Alibaba and Tesla.

In this series of articles, we highlight companies in the Scottish Mortgage portfolio that are taking technological advances to the next level, a new generation of companies who will reshape our world and what is possible in the years to come.

In this series of articles, we highlight companies in the Scottish Mortgage portfolio that are taking technological advances to the next level, a new generation of companies who will reshape our world and what is possible in the years to come.

Weakening economic conditions are prompting governments in emerging markets to tighten up their policy framework. And that additional rigour is, in turn, creating attractive investment opportunities in some bonds, according to Yannis Lykouris.

In this series of articles, we highlight companies in the Scottish Mortgage portfolio that are taking technological advances to the next level, a new generation of companies who will reshape our world and what is possible in the years to come.

In this series of articles, we highlight companies in the Scottish Mortgage portfolio that are taking technological advances to the next level, a new generation of companies who will reshape our world and what is possible in the years to come.

In this series of articles, we highlight companies in the Scottish Mortgage portfolio that are taking technological advances to the next level, a new generation of companies who will reshape our world and what is possible in the years to come.

Investment manager Toby Ross discusses recent investment, Watsco.

Managers Stephen Paice and Moritz Sitte on the Baillie Gifford European Growth Trust plc.

Investment manager Gary Robinson explains why Shopify is a great example of what Global Stewardship is looking for – a growing company, whose management team thinks for the long term and balances the needs of all stakeholders, and whose products add real value for society.

Our support of inquisitive people plays a crucial role in our investment research. Discover more in our academia anthology.

Our support of inquisitive people plays a crucial role in our investment research. Discover more in our academia anthology.

Investment managers Roderick Snell and Ewan Markson-Brown believe that Asia is going to be one of the fastest-growing regions over the coming decades. And they argue that the best way to unleash this potential in your portfolio is by buying growth companies in that growth region. They call this 'Growth Squared'.

An accompaniment to our annual Impact Report using a different lens to look at the contribution of the Positive Change portfolio to society.

Toby Ross on how we engage on responsible taxation.

Zaki Sabir explains why the Global Stewardship Portfolio Construction Group are very hopeful that LendingTree will be a rewarding investment for clients.

Long-Term Return Expectations sets out the Multi Asset Team’s views, as at 30 June 2019, on the prospective returns for asset classes over the next 10 years, and beyond.

Investment manager James Squires explains why our Long-Term Return Expectations exercise is fundamental to our investment process, illustrating with a worked example of high yield credit.

Jenny Davis explores the Asian opportunity.

Disruptive forces are at play, and they are far more powerful and enduring than most would give credit for. Dave Bujnowski explores what the consequences are of this upheaval, and whether this is good or bad news for growth investors.

There are lots of reasons not to invest in Europe. Its economic growth is uninspiring and much of its stock index is made up of bureaucratic corporate dinosaurs. But beyond the negative headlines, there are still exciting investment opportunities to be found. They include potential tenbaggers – companies whose share price could increase ten-fold.

Monks’ investment process focuses on the long-term ownership of growing businesses. We encourage these companies to invest in growth opportunities and ignore the short-term pressures of the market. In the following report, we set out our approach to stewardship and explain how it fits with our investment style.

Mike Gush, an investment manager of Global Stewardship, discusses why he champions investing in TSMC.

Investment managers Iain McCombie and Milena Mileva give an update on the Baillie Gifford UK Growth Fund plc and discuss some examples of companies within the portfolio that show exciting growth potential.

The Scottish Mortgage Investment Trust Annual General Meeting (AGM) took place in Edinburgh on 27 June 2019. In addition to the business of the day, there were presentations from the Trust's managers, James Anderson and Tom Slater, which you can now watch here.

Investment Manager, Kate Fox explores how fashion might evolve from eco-culprit to eco-warrior, and where investment opportunities might arise along the way.

As our understanding of the concept of global continues to evolve, investment manager John MacDougall suggests that where a company happens to be based will not prevent it from building a high growth business in the future. As such, we must be prepared to see high-growth companies emerging from new locations across the globe. John explains how the Long Term Global Growth team are adapting their research to accommodate this.

Investment manager Mark Urquhart would love to see companies currently in the portfolio still having their place in it in 2050. For him, it is not enough for businesses to endure, they must adapt and, crucially, be brave enough to disrupt themselves, if they are to manifest growth for many years to come.

Baillie Gifford’s over-arching ethos is that we are ‘actual’ investors. Our approach to stewardship favours a small number of simple principles which help shape our interactions with companies.

Baillie Gifford’s over-arching ethos is that we are ‘actual’ investors. Our approach to stewardship favours a small number of simple principles which help shape our interactions with companies.

Governance and Sustainability analysts Michelle O’Keeffe and Laura Thomson answer some of the most common climate change questions they are asked in relation to climate change and Baillie Gifford’s position regarding it.

Governance and Sustainability analysts Michelle O’Keeffe and Laura Thomson answer some of the most common climate change questions they are asked in relation to climate change and Baillie Gifford’s position regarding it.

Fifty years on from the first moon landing, entrepreneurs on the west coast of America are stepping up spending on space. To discuss how this new space race might impact investment, Malcolm Borthwick is joined by Luke Ward – space enthusiast and deputy manager of Edinburgh Worldwide Investment Trust and the Global Discovery Fund.

Since 1987, the Managed Fund has exemplified that sometimes the simplest solutions can be very successful. Iain McCombie and Steven Hay explain how the fund can help you solve the puzzle of investing in a complex world.

In the fourth episode of Short Briefings on Long Term Thinking, Malcolm Borthwick is joined by Milena Mileva to discuss how profound changes in consumer behaviour are changing the retail landscape both online and in bricks-and-mortar stores.

Everyone wants to make a difference, and capital thoughtfully and responsibly deployed is a powerful mechanism for change. In seeking out companies whose products and services are providing solutions to global challenges, we believe a proactive investment approach can also be the basis of attractive investment returns. Investment Managers Kate Fox and Lee Qian explain why positive change really matters.

The Positive Change team use the United Nations Sustainable Development Goals to help identify and measure the contribution that individual companies are making to solving the global challenges that are facing our planet. So, what are they? And how do we use them?

There are many ways in which businesses can support the transition to a more sustainable world for current and future generations, so to make it easier for us to think about and articulate how companies are addressing global challenges, we have created four impact themes. Meet the members of the Positive Change team as they introduce the four themes.

With online companies currently dominating sales, it is widely expected that the need for tangible stores will continue to decrease, but Baillie Gifford has spotted a rise in forward-thinking companies who are utilising physical spaces to provide an innovative and interactive shopping experience.

In Baillie Gifford we have a very different perspective on 2018, and hence the future, than the one you will be used to reading about.

As lifespans increase, more of us will inevitably encounter Alzheimer’s. Thankfully, new advances mean that we may be approaching a breakthrough in treating the disease. The Death of Alzheimer’s asks how Baillie Gifford can support this effort.

In the second in his series of reflections following a meeting with Amazon boss Jeff Bezos in Seattle, Tom Slater considers the online giant’s prospects in the changing world of new media.

In this series of articles, we highlight companies in the Scottish Mortgage portfolio that are taking technological advances to the next level, a new generation of companies who will reshape our world and what is possible in the years to come.

To build great businesses, company management should understand how a company’s culture can affect shareholder value. Gary Robinson looks at how having a distinctive culture can create great opportunities for those looking to invest in thoughtfully managed companies.

Global Stewardship offers a differentiated global equity portfolio, consisting of both Local Heroes and Global Champions. Mike Gush explains why this makes them different.

The Baillie Gifford Responsible Global Equity Income Fund is the first and only fund of its type in the Global Equity Income sector.

Lucy Isles and Robert Baltzer reflect on their team's focus on resilience and good governance.

Investment managers Lawrence Burns and Paulina Sliwinska share thoughts on future trends with Professor Brian Arthur.

ANT Financial is a private online payments business that started life as part of the Chinese e-commerce giant Alibaba. Tom Slater explains what attracted him to take a holding in ANT for Scottish Mortgage.

The Baillie Gifford US Equities team believes extended research trips are a valuable way of gaining deeper insight into companies and disruptive industries. Kirsty Gibson recently spent time in the US finding out about Synthetic Biology.

Investment manager Brian Lum explores how their radar framework helps Baillie Gifford’s International Smaller Companies team to uncover exciting small businesses around the world.

In this short series Baillie Gifford’s International Smaller Companies team explores how their radar framework helps them to uncover the most exciting small businesses from around the world.

The task in hand is to remind our clients what investing actually means. Stuart Dunbar makes a passionate plea for 'actual' managers to demonstrate that we have our clients' best interests at heart.

The future of medicine is likely to be fundamentally different from what we know today. Investment Manager, Rose Nguyen, discusses the technological advances that are likely to transform life science in the coming decades.

Join Toby Ross and James Dow, SAINTS’ joint managers, on their travels as they seek out the companies from across the globe that they believe can deliver a dependable and growing income along with capital growth.

Many patients with kidney failure face an agonising wait for a donor or a life on dialysis. However, as Julia Angeles writes, new technologies may offer a brighter future.

In 2017, the Emerging Markets team wrote a paper called ‘Morbid Symptoms’, explaining why they were optimistic despite the confusion of political events in the West. A year on, Will Sutcliffe provides five more reasons to be cheerful about emerging market equities.

The story of investing is really the story of the big winners, those exceptional companies that reshape our world and in the process reap the rewards. Lawrence Burns sets out how a long-term and patient approach to investment is necessary to identify those truly great companies that could drive extreme returns.

We view the Emerging Markets Bond Fund not as risking money in emerging markets, but investing in the future shape of the world. We take an active management approach to help us pick the winning countries. Discover how we aim to go about doing just that for our Emerging Markets Bond Fund clients.

We believe growth comes in many different shapes and sizes. So why settle for just one when you can choose the Monks Investment Trust and let us help you find four different ways to seek out growth, all at the same time?

Active management in emerging markets - Claire Gillies and Andrew Keiller explain why it is important to be selective rather than follow the index and outline the potential rewards such an approach can bring.

Stuart Dunbar discusses the woes of what our industry has become alongside the potential opportunities presented by its somewhat over-evolved state.

Julia Angeles, an investment manager in the EAFE Alpha team, considers how scientific developments have led to changes in the diagnosis and treatment of diseases, and why the current rate of progress is set to accelerate in the coming years. Angeles also explains why she opted to undergo genomic testing.

Although widely admired for intelligent, insightful writing that engages readers, this page-turner has never featured on literary bestseller lists. Nor has there been a scramble for the film rights. But Baillie Gifford’s Trust magazine is a classic in its genre, having earned many plaudits and industry awards.

The out-of-date negative perceptions surrounding emerging market government bonds means that for genuinely active managers, the asset class can provide great opportunities to add value.

Cement accounts for 5 per cent of global carbon emissions and Cemex, a leading Mexico-based producer lacks governance and sustainability appeal. But we cannot ignore well-financed companies whose products contribute to economic growth, least of all when they promise to travel the road to redemption. Compromise is essential.

Baillie Gifford are now managers of the re-named Baillie Gifford European Growth Trust plc. In this film, co-managers Stephen Paice and Moritz Sitte outline why they have repositioned the portfolio to focus on the 40 or so companies that they believe are most likely to deliver outstanding growth over the next five to ten years.

With stable, inflation-linked cash flows, infrastructure may offer both a good source of return and diversification benefits within a multi-asset portfolio. Investment Manager James Squires takes a closer look at the asset class and its key characteristics.

Investment manager Matthew Brett gives an update on the position of The Baillie Gifford Japan Fund PLC and discusses some examples of companies within the portfolio that show exciting growth potential.

A summary of our High Yield team's Stewardship Activities in 2018 and 2019.

Karen See, joint manager of the Japanese Income Growth Fund, discusses the fund since its inception three years ago, and some key characteristics of the portfolio.

The managers of SAINTS explain the appeal of two investments which perfectly fit the trust's long-term objectives: a resilient income, with attractive growth.

In this short webcast, Multi Asset Investment Manager, Scott Lothian, and Governance & Sustainability Analyst, Laura Thomson, discuss the importance of our role as stewards of our clients’ capital and why we believe there is strong alignment between good governance and sustainability practices and achieving strong investment returns over the long term.

The impact of ever-faster networks and complex systems is all around us. Tom Slater reflects on the implications of our accelerating connectedness in an increasingly ‘complexified’ world.

James Anderson explains why Scottish Mortgage’s portfolio makes him optimistic about the future, despite the sound and fury of recent headlines.

In our first Global Stewardship Governance and Sustainability Report, we reflect on the process of founding Global Stewardship, with particular focus on why we opted to take a slightly different approach to the task of investing responsibly.

We wager that what you think you know about US equity investing is wrong. Investment Manager Helen Xiong lays her cards on the table as she busts the three most common misconceptions surrounding active investment in US equities.

Results season has been in full swing for the last few months. James Dow and Toby Ross, co-managers of SAINTS, chalk up the scores at the end of a year that has left them feeling optimistic about the future.

Douglas Brodie, portfolio manager of Edinburgh Worldwide Investment Trust, discusses the philosophy that underpins the strategy and the ways in which the team identifies smaller companies with growth potential.

Douglas Brodie, portfolio manager of Edinburgh Worldwide Investment Trust, discusses the philosophy that underpins the strategy and the ways in which the team identifies smaller companies with growth potential.

Portfolio manager of Shin Nippon, Praveen Kumar, discusses the main takeaways from his extended trip to Japan and past and potential future activity within the portfolio.

Douglas Brodie, portfolio manager of the Baillie Gifford Global Discovery fund, discusses the philosophy that underpins the strategy and the ways in which the team identifies small companies with growth potential.

Stephen Corr makes the case for the defence of international equities, arguing that while the US market has been shrinking, international markets continue to expand.

Tom Slater shares his enthusiasm for Spotify, a subscription streaming business that has grown to be a global product under the guidance of its founder CEO Daniel Ek.

Shopify helps companies looking to sell their goods online. It is regarded by Amazon as a partner and, as Tom Slater explains, with a growing number of companies looking to have an online presence, it has a massive potential opportunity.

Although Japan appears to be late to the unlisted party, there are promising signs of change. Andrew Brown considers how investors should approach unlisted opportunities in Japan to help clients gain access to the most exciting growth businesses.

Toby Ross shows how Baillie Gifford’s growth approach to income investing, starts from a very different philosophical position compared with our peers. Take a look from a different angle.

Our lives are increasingly cluttered by information overload. And, as Iain Campbell explains, having too much data can hamper rather than improve the process of investing. The key is to ignore irrelevant noise and focus on the drivers of long-term investment returns.

The Annual General Meeting of the Scottish Mortgage Investment Trust took place in Edinburgh on 29 June. In addition to the business of the day, co-managers James Anderson and Tom Slater made presentations and you can read the highlights here.

Charles Plowden, Malcolm MacColl and Spencer Adair review the last twelve months as managers of The Monks Investment Trust portfolio.

Milena Mileva and Iain McCombie, co-managers of the Baillie Gifford UK Growth Fund plc, give an overview of the trust following the board’s decision to move the mandate to Baillie Gifford.

Lee Qian discusses the recent evolution of impact investing and explains why the Positive Change strategy has both the ability and the responsibility to contribute to global progress.

Toby Ross discusses whether there is a relationship between a fund’s starting yield and the amount of income it actually delivers over time.

Why objects that can see will transform society.

The Baillie Gifford Corporate Bond Fund is changing its name to the Baillie Gifford Strategic Bond Fund. This is our Marathon to Snickers moment, the name is changing but the great recipe remains the same.

Praveen Kumar, portfolio manager, explains how a tight employment market and developments in healthcare are driving stock selection in the Shin Nippon portfolio. He also outlines some of the areas that contributed significantly to the performance over the past 12 months, as well as those which offer exciting prospects for the future.

James Anderson, joint manager of Scottish Mortgage, shares his thoughts on Chinese car company NIO and the founder-driven, Chinese giant retailing platform, Alibaba.

James Anderson, joint manager of Scottish Mortgage, shares why he is enthusiastic about investing in Amazon as and why he believes it will remain a dominant company in the future.

Tom Slater, joint manager of Scottish Mortgage, discusses why he thinks biotech company Bolt Threads has the potential to transform the apparel industry.

Tom Slater, joint manager of Scottish Mortgage, discusses industrial technology company Uptake, which uses data science to enable people and machines to work better together.

European company Spotify is on its way to becoming a global leader. James Anderson, joint manager of Scottish Mortgage, shares his enthusiasm for Spotify and its founder.

The investment environment in Japan is undergoing significant change. Labour remains in short supply, while productivity improvements and employee satisfaction are being prioritised. With wages rising, will the country finally escape deflation?

Following a meeting with Jack Ma of Alibaba, James Anderson considers the importance of data to our future, and anticipates the pivotal role China will play in shaping what is to come.

While equities offer the income-seeking investor scope for both income and growth, investing in the domestic equity market may not be the answer for UK investors. Instead, portfolio managers Toby Ross and James Dow cast their net globally, seeking out the resilient, growing businesses that they think will deliver a diversified, dependable income stream over time.

At Baillie Gifford we don’t manufacture performance, our aim is to craft it. Kevin Fenelon notes that as important as a robust research framework is, if we are to find the right stocks, then our investors must be prepared to have an open mind, embrace risk and think creatively about the future.

The annual meeting of the Scottish Mortgage Investment Trust took place in Edinburgh on 29 June. In addition to the business of the day, there were presentations from the Trust’s managers, James Anderson and Tom Slater. This summary includes several short audio clips recorded on the day.

Historical precedence would indicate that technological progress doesn’t cause long-run unemployment. With the phenomenal progress now being made in artificial intelligence, investment manager Lawrence Burns looks at why the new challenges it presents won’t change that.

Technological evolution continues to occur at an ever-increasing pace. Douglas Brodie looks at some of the areas likely to see the greatest change in the coming years, and the investment opportunities that will open up as a result.

Despite political uncertainty, the economic environment has been very positive. Investment manager Felix Amoako talks through the implications of this for Multi Asset portfolios.

With the power to transform every trade and every industry, artificial intelligence (AI) is the future that is here today. Investment manager Lawrence Burns reflects on some of the recent developments in the field and speculates on what the brave and wonderful new world of AI might mean for us all.

Political uncertainty in developed markets may be grabbing headlines, but it’s not the full story for emerging markets. Investment manager Will Sutcliffe explains his optimism for the future, as the old grudgingly gives way to the new in certain emerging market economies.

Investment manager Julia Angeles strikes an optimistic note as she explores some of the recent developments in healthcare, which one day she hopes will bring an end to cancer.

Investment Manager Iain Campbell does not claim that Baillie Gifford’s investors are cleverer, have better systems or information, or that they work harder, travel further or construct more complex spreadsheets. Rather, he elaborates on an identifiable market inefficiency that our unusual structure and long-term philosophy allows us to exploit.

The 107th AGM of Scottish Mortgage Investment Trust once again saw presentations from the investment managers James Anderson and Tom Slater. We’ve captured some key points that each made on the day, as audio recordings and wanted you to have the opportunity to hear their thinking for yourself.

With the lifespan of companies shrinking, pinpointing those companies that will endure matters. Investment Manager Mark Urquhart illustrates the power of compounding and the role special cultures and management play in increasing a company’s odds of longevity.

Kevin Fenelon illustrates that you don’t have to be an early riser to generate superior returns, but you must be prepared to hold stocks for multi-year periods if you are to capture the real benefits of growth.

The golden age for EM economic growth is over, but for some EM companies, the opportunity set may be far larger than anything EM investors have seen to date. Will Sutcliffe dispels some common misconceptions surrounding EM investing.

Joe Faraday shares his enthusiasm for the importance of cities as growth drivers, explaining how access to world-leading academics and their research has shaped his thinking.