Capital at risk

Investment strategy

Developed EAFE All Cap

We have three core beliefs: superior profit growth leads to outperformance, fundamental analysis enables exploitation of market inefficiencies and share prices reflect fundamentals over the long term.

Ocean wave at sunset time, Indian Ocean, Maldives.

Consistent investment in growing companies

An international growth portfolio, bringing together the best ideas from firmwide research. To perform better than the market, you need to be different from it. We search across the market cap spectrum for a balance of growth, quality and resilience. 

International All Cap Q3 update

The International All Cap Team reflects on recent performance, portfolio changes and market developments.

Taking a long-term advantage

We look to invest in businesses that exhibit some combination of sustained, above-average growth and strong competitive advantage, such as superior profit margins or returns on invested capital.  

We believe that stock markets have a recurring tendency to underappreciate the value of long-term compound growth. We aim to take advantage of this by investing with a minimum time horizon of five years in mind.

Embracing different types of growth

The strategy has a proud 30-year track record, following a consistent investment process. 

We invest in an eclectic mix of individual businesses and take great pride in drawing from firmwide research to bring the best ideas to the portfolio. 

The portfolio is tilted towards the lower end of the benchmark’s market cap range. We think this is a fertile hunting ground for focused, well-run growth companies. 

We are long-term in our approach and focused on identifying the structural growth drivers that could deliver strong returns for our clients over the coming decades.
Joe Faraday

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: 30 September 2024

#CompanyFund %
1United Overseas Bank4.1%
2ASML4.0%
3Auto Trader3.6%
4Atlas Copco A3.2%
5Experian3.2%
6Investor2.6%
7Olympus2.5%
8LVMH2.4%
9AIA Group2.4%
10Lonza Group2.3%

Strategy holdings by sector

All figures up to: 30 September 2024

1Industrials28.12%
2Financials17.42%
3Consumer Discretionary11.75%
4Information Technology10.56%
5Consumer Staples10.53%
6Health Care8.83%
7Communication Services6.99%
8Materials4.73%
9Cash1.08%
Total 100%

Strategy holdings by sector

All figures up to: 30 September 2024

Total: 100%

Strategy holdings by region

All figures up to: 30 September 2024

1Europe (ex UK)44.37%
2Developed Asia Pacific31.65%
3UK22.90%
4Cash1.08%
Total 100%

Strategy holdings by region

All figures up to: 30 September 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.

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Insights

Key articles, videos and podcasts relating to the strategy:

Filters

Insights

Viewing 14 of 14
  1. Saving when sending abroad: a Wise move

    With international payments a profitable afterthought for the banks, it’s been left to a newcomer to build the best way of moving money around the world.
    October 2024
    Article4 minutes
  2. International All Cap Q3 investor letter

    The International All Cap Team reflects on recent performance, portfolio changes and market developments
    October 2024
    Article5 minutes
  3. Wise: Money Without Borders

    Co-founder and CEO of digital payments platform Wise explains how a customer-centric approach is helping revolutionise global money movement.
    October 2024
    Video37 minutes
  4. Mountain surrounded by cloud

    International All Cap Q3 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    October 2024
    Video11 minutes
  5. Investment specialist Thomas Hodges

    Future Stocks: Our best ideas in Europe

    Thomas Hodges uncovers three of Europe’s hidden growth champions: Lonza, Topicus and Soitec.
    September 2024
    Video3 minutes
  6. Wise: Growing global money transfers

    Charting rising cross-border money payments and the opportunity for remittance service Wise.
    August 2024
    Article6 minutes
  7. International All Cap Q2 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    July 2024
    Video10 minutes
  8. Tilting the odds in your favour

    The Magnificent Seven’s reputation goes before them but that’s not enough to save them.
    April 2024
    Article8 minutes
  9. International All Cap Q1 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    April 2024
    Video21 minutes
  10. International All Cap Q4 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    January 2024
    Video13 minutes
  11. Ashtead: hiding in plain sight

    This little-known equipment rental company is one of the UK’s most exciting growth stories.
    December 2023
    Article5 minutes
  12. Why growth, why now?

    Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.
    December 2023
    Article17 minutes
  13. International All Cap Q3 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    October 2023
    Video14 minutes
  14. International All Cap Q2 update

    The International All Cap team reflects on recent performance, portfolio changes, and market developments.
    July 2023
    Video12 minutes

International All Cap Q3 update

The International All Cap Team reflects on recent performance, portfolio changes and market developments.

  1. Saving when sending abroad: a Wise move

    With international payments a profitable afterthought for the banks, it’s been left to a newcomer to build the best way of moving money around the world.
    October 2024
    Article4 minutes
  2. International All Cap Q3 investor letter

    The International All Cap Team reflects on recent performance, portfolio changes and market developments
    October 2024
    Article5 minutes
  3. Wise: Money Without Borders

    Co-founder and CEO of digital payments platform Wise explains how a customer-centric approach is helping revolutionise global money movement.
    October 2024
    Video37 minutes
  4. Mountain surrounded by cloud

    International All Cap Q3 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    October 2024
    Video11 minutes
  5. Investment specialist Thomas Hodges

    Future Stocks: Our best ideas in Europe

    Thomas Hodges uncovers three of Europe’s hidden growth champions: Lonza, Topicus and Soitec.
    September 2024
    Video3 minutes
  6. Wise: Growing global money transfers

    Charting rising cross-border money payments and the opportunity for remittance service Wise.
    August 2024
    Article6 minutes
  7. International All Cap Q2 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    July 2024
    Video10 minutes
  8. Tilting the odds in your favour

    The Magnificent Seven’s reputation goes before them but that’s not enough to save them.
    April 2024
    Article8 minutes
  9. International All Cap Q1 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    April 2024
    Video21 minutes
  10. International All Cap Q4 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    January 2024
    Video13 minutes
  11. Ashtead: hiding in plain sight

    This little-known equipment rental company is one of the UK’s most exciting growth stories.
    December 2023
    Article5 minutes
  12. Why growth, why now?

    Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.
    December 2023
    Article17 minutes
  13. International All Cap Q3 update

    The International All Cap Team reflects on recent performance, portfolio changes and market developments.
    October 2023
    Video14 minutes
  14. International All Cap Q2 update

    The International All Cap team reflects on recent performance, portfolio changes, and market developments.
    July 2023
    Video12 minutes

Explore further

Curious to learn more about our products and what we can offer you? Please get in touch.

Important information

Baillie Gifford Overseas Limited is wholly owned by Baillie Gifford & Co. Baillie Gifford Overseas Limited provides investment management and advisory services to non-UK clients. Both are authorised and regulated by the Financial Conduct Authority.

The information provided does not constitute an offer of or solicitation for purchase or sale of securities or provision of any investment services. Any general enquiries regarding Baillie Gifford should be directed to the relevant individual as noted in the Contact Us section.

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This website is informative only and the information provided should not be considered as investment advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.