Capital at risk
Positive Change
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 provide solutions to global challenges, we believe a proactive investment approach can also be the basis of attractive investment returns.
Investing to make a difference
We seek to invest in companies whose products and services can make a difference to society and the environment – all while generating exciting returns.
A shocking revelation: capitalism can power positive change
In this film, investment managers Kate Fox and Lee Qian explain why positive change really matters. They consider companies shaping the future across our four impact themes and show how purpose and profit can go hand in hand.
Profits complement purpose
Positive Change is a global equity strategy with two equally important objectives: to generate attractive investment returns (2 per cent per annum ahead of the MSCI ACWI Index over rolling five-year periods) and to contribute towards a more sustainable and inclusive world.
Addressing global challenges
Positive Change is a concentrated global portfolio of about 35 stocks. Rather than relying on broad exclusionary screens, we leverage fundamental analysis to identify exceptional businesses we believe will prosper over the long term.
Through their products and services, these businesses are addressing some of the world’s most pressing challenges across our four impact themes:
- social inclusion and education
- environment and resource needs
- healthcare and quality of life
- base of the pyramid - the needs of those at the bottom of the global income ladder
The two objectives we’ve set, to make attractive returns and to deliver positive change, are closely interlinked. They go hand in hand. They are complementary, not contradictory.
Meet the managers
Documents
Invest through other vehicles
Get in touch to learn about the other ways to invest, including:
- Baillie Gifford Positive Change Collective Investment Trust (CIT)
- Separate account
Strategy portfolio holdings
A list of the top 10 holdings that the representative portfolio invests in.
All figures up to: 31 October 2024
# | Holding | % of portfolio |
---|---|---|
1 | MercadoLibre | 8.0% |
2 | TSMC | 7.8% |
3 | Shopify | 5.3% |
4 | Duolingo | 5.1% |
5 | Nu Holdings | 4.9% |
6 | ASML | 4.9% |
7 | HDFC Bank | 4.8% |
8 | Alnylam Pharmaceuticals | 4.7% |
9 | Autodesk | 4.7% |
10 | Bank Rakyat Indonesia | 4.7% |
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 through other vehicles
Get in touch to learn about the other ways to invest, including:
- Baillie Gifford Positive Change Collective Investment Trust (CIT)
- Separate account
Insights
Key articles, videos and podcasts relating to the strategy:
Filters
Insights
Positive Change Q3 investor letter
The Positive Change Team reflects on recent performance, portfolio changes and market developmentsPositive Change Q3 update
The Positive Change Team reflects on recent performance, portfolio changes and market developments.Future Stocks: Our best impact ideas
Rosie Rankin explains why Nubank, Xylem and Grab can both improve lives and offer investment returns.Academic collaborations that count
The experts helping us gain an investment edge when thinking about farming, human rights and AI.Lessons from a time traveller
A journey through time uncovers the deep transitions that can reshape our world.Positive Change Q2 update
The Positive Change Team reflects on recent performance, portfolio changes and market developments.Positive Change: investor letter Q2 2024
Investment specialist Rosie Rankin gives an update on the Positive Change Strategy covering Q2 2024.Stock story: PsiQuantum
How one company is finally bringing the boundless possibilities of quantum computing into reach of the wider market.Positive Change Q1 update
The Positive Change Team reflects on recent performance, portfolio changes and market developments.Remitly: easy global remittance
The mobile app that busts stress and high charges for workers sending money back home.Climeworks: digging deeper for climate solutions
A small holding with a long-term climate goal.Positive Conversations 2023
The Positive Change Team’s ESG and engagement report shows the difference talking can make.Positive Change in a new paradigm
Impact investing amidst shifting economic landscapes and technological advancements.Positive Change: a review of 2023
A performance update explaining why we back firms solving social and economic issues such as Moderna and MercadoLibre.Moderna: designing drugs on a computer
Can scientists meet unmet health needs by writing code to help the body heal itself?Positive Change Q4 update
The Positive Change Team reflects on recent performance, portfolio changes and market developments.Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.Positive Change Q3 update
The Positive Change Team reflects on recent performance, portfolio changes and market developments.Positive Change Fund webinar
Investment manager Lee Qian discusses portfolio changes, opportunities and challenges.Positive Change Q2 update
The Positive Change team reflects on recent performance, portfolio changes, and market developments.Climate change innovators
How Positive Change targets companies at the forefront of tackling carbon emissions.Finding Brazil’s social innovators
Ed Whitten travels to Rio de Janeiro and São Paulo to meet companies seeking social impact.Positive Change Q1 update
Positive Change Team reflects on recent performance, portfolio changes, and market developments.The sustainability revolution
Positive Change’s Kate Fox on thinking about the world in 2050 to spot opportunities today.Positive Change reflections on 2022
The team considers performance in a year of ‘permacrisis’ and the outlook for the months ahead.Positive Conversations 2022
We don’t just talk to managements, we listen. A snapshot of Positive Change’s ESG conversations.Positive Conversations 2022
Responsible business practices are fundamental to delivering sustainable long-term growth and addressing global challenges.Positive Change Impact Report: 5th Year 2021/22
The Positive Change Team’s latest impact report, covering our activity over the last five years and plans for the future.How education escaped from the classroom
Online courses have upended the economics of education, Thaiha Nguyen explains.Positive Conversations 2021
Responsible business practices are fundamental to delivering sustainable long-term growth and addressing global challenges.Positive Conversations 2020
This document looks at the contribution of the Positive Change portfolio to society through its business practices and focuses on our approach to engagement with the companies owned on behalf of our clients.Innovation: why it’s crucial for sustainability
Lee Qian, Investment Manager in Baillie Gifford’s Positive Change Strategy, tells us why we should harness innovation and economic growth to create a more prosperous, sustainable and inclusive world.A shocking revelation: capitalism can power positive change
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.Positive Change Impact Report
For Full Year 2019, updating on contributions towards a more sustainable and inclusive world.Positive Conversations 2019
An accompaniment to our annual Impact Report using a different lens to look at the contribution of the Positive Change portfolio to society.
Positive Change Q3 update
The Positive Change Team reflects on recent performance, portfolio changes and market developments.
Positive Change Q3 investor letter
The Positive Change Team reflects on recent performance, portfolio changes and market developmentsPositive Change Q3 update
The Positive Change Team reflects on recent performance, portfolio changes and market developments.Future Stocks: Our best impact ideas
Rosie Rankin explains why Nubank, Xylem and Grab can both improve lives and offer investment returns.Academic collaborations that count
The experts helping us gain an investment edge when thinking about farming, human rights and AI.Lessons from a time traveller
A journey through time uncovers the deep transitions that can reshape our world.Positive Change Q2 update
The Positive Change Team reflects on recent performance, portfolio changes and market developments.Positive Change: investor letter Q2 2024
Investment specialist Rosie Rankin gives an update on the Positive Change Strategy covering Q2 2024.Stock story: PsiQuantum
How one company is finally bringing the boundless possibilities of quantum computing into reach of the wider market.Positive Change Q1 update
The Positive Change Team reflects on recent performance, portfolio changes and market developments.Remitly: easy global remittance
The mobile app that busts stress and high charges for workers sending money back home.Climeworks: digging deeper for climate solutions
A small holding with a long-term climate goal.Positive Conversations 2023
The Positive Change Team’s ESG and engagement report shows the difference talking can make.Positive Change in a new paradigm
Impact investing amidst shifting economic landscapes and technological advancements.Positive Change: a review of 2023
A performance update explaining why we back firms solving social and economic issues such as Moderna and MercadoLibre.Moderna: designing drugs on a computer
Can scientists meet unmet health needs by writing code to help the body heal itself?Positive Change Q4 update
The Positive Change Team reflects on recent performance, portfolio changes and market developments.Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.Positive Change Q3 update
The Positive Change Team reflects on recent performance, portfolio changes and market developments.Positive Change Fund webinar
Investment manager Lee Qian discusses portfolio changes, opportunities and challenges.Positive Change Q2 update
The Positive Change team reflects on recent performance, portfolio changes, and market developments.Climate change innovators
How Positive Change targets companies at the forefront of tackling carbon emissions.Finding Brazil’s social innovators
Ed Whitten travels to Rio de Janeiro and São Paulo to meet companies seeking social impact.Positive Change Q1 update
Positive Change Team reflects on recent performance, portfolio changes, and market developments.The sustainability revolution
Positive Change’s Kate Fox on thinking about the world in 2050 to spot opportunities today.Positive Change reflections on 2022
The team considers performance in a year of ‘permacrisis’ and the outlook for the months ahead.Positive Conversations 2022
We don’t just talk to managements, we listen. A snapshot of Positive Change’s ESG conversations.Positive Conversations 2022
Responsible business practices are fundamental to delivering sustainable long-term growth and addressing global challenges.Positive Change Impact Report: 5th Year 2021/22
The Positive Change Team’s latest impact report, covering our activity over the last five years and plans for the future.How education escaped from the classroom
Online courses have upended the economics of education, Thaiha Nguyen explains.Positive Conversations 2021
Responsible business practices are fundamental to delivering sustainable long-term growth and addressing global challenges.Positive Conversations 2020
This document looks at the contribution of the Positive Change portfolio to society through its business practices and focuses on our approach to engagement with the companies owned on behalf of our clients.Innovation: why it’s crucial for sustainability
Lee Qian, Investment Manager in Baillie Gifford’s Positive Change Strategy, tells us why we should harness innovation and economic growth to create a more prosperous, sustainable and inclusive world.A shocking revelation: capitalism can power positive change
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.Positive Change Impact Report
For Full Year 2019, updating on contributions towards a more sustainable and inclusive world.Positive Conversations 2019
An accompaniment to our annual Impact Report using a different lens to look at the contribution of the Positive Change portfolio to society.
Invest through other vehicles
Get in touch to learn about the other ways to invest, including:
- Baillie Gifford Positive Change Collective Investment Trust (CIT)
- Separate account
Invest through other vehicles
Get in touch to learn about the other ways to invest, including:
- Baillie Gifford Positive Change Collective Investment Trust (CIT)
- Separate account