Key points
- Living in uncertain times, we stand firm on our impact and investment objectives and consistent in our investment approach
- From Deere to Dexcom, portfolio companies continue to contribute meaningfully to a more sustainable and inclusive world
- We are excited by the prospects for them to deliver attractive investment returns while driving real-world impact
© John Deere
All investment strategies have the potential for profit and loss, your or your clients capital may be at risk. Past performance is not a guide to future returns
We remain resolute in our belief that the transition towards a more sustainable and inclusive future will present large growth opportunities for purpose-driven companies.
Now more than ever, we need companies with novel solutions to enduring global challenges to be ambitious and allocate capital to innovations that can shift the world onto a more sustainable and equitable pathway.
The Positive Change 2023 Impact Report reveals companies’ progress in addressing some of the world’s biggest challenges in 2023. From 523 million individuals accessing financial services, reducing poverty and boosting shared prosperity, to almost 1.7 trillion of customers’ water saved, we deliver headline impact data and explore the impact of each holding within our four impact themes.
Social inclusion and education
Brazilian digital bank, Nubank has provided six million customers with their first bank account or credit card. It is one of the Positive Change companies driving social inclusion through its products and services. Discover how our companies are removing barriers, enabling connectivity, and providing education and training to increase participation in society.
Environment and resource needs
Agricultural equipment company Deere’s See & Spray precision technology has helped farmers reduce their herbicide use by over two-thirds. This theme covers the energy transition, sustainable resource use, and transforming agriculture. Explore the companies that are creating a sustainable future for our planet and its inhabitants.
Healthcare and quality of life
Dexcom’s continuous glucose monitoring (CGM) devices enable 2.3 million diabetic patients globally to manage their glucose levels better, reducing the risk of complications and preventing more serious diseases. Learn more about companies that contribute to improved health outcomes by improving our understanding of diseases, diagnostics, treatment, disease prevention, and efficiency (system enablers).
Base of the pyramid
With half of the adults in Indonesia unbanked, Bank Rakyat Indonesia provides savings, borrowing,
insurance and payment services to millions of low-income individuals at a reasonable cost and interest rate. This helps reduce some of the challenges faced by those living in extreme poverty. Delve into the companies in the portfolio that are improving the lives of some of those living on some of the lowest incomes around the world.
In addition, we present the aggregated portfolio impact, plus how the portfolio contributes to the UN sustainable development goals (SDGs).
Read the report
Risk factors
The views expressed should not be considered as advice or a recommendation to buy, sell or hold a particular investment. They reflect opinion and should not be taken as statements of fact nor should any reliance be placed on them when making investment decisions.
This communication was produced and approved in July 2024 and has not been updated subsequently. It represents views held at the time of writing and may not reflect current thinking.
This communication contains information on investments which does not constitute independent research. Accordingly, it is not subject to the protections afforded to independent research, but is classified as advertising under Art 68 of the Financial Services Act (‘FinSA’) and Baillie Gifford and its staff may have dealt in the investments concerned.
All information is sourced from Baillie Gifford & Co and is current unless otherwise stated.
The images used in this communication are for illustrative purposes only.
| 2020 | 2021 | 2022 | 2023 | 2024 | |
| Positive Change Composite Net | 47.5 | 65.7 | -38.4 | 24.3 | 1.9 |
| MSCI ACWI | 2.6 | 39.9 | -15.4 | 17.1 | 19.9 |
| 1 year | 5 years | 10 years | Since inception* | |
| Positive Change Composite Net | 1.9 | 13.8 | N/A | 16.8 |
| MSCI ACWI | 19.9 | 11.3 | N/A | 11.2 |
| 2020 | 2021 | 2022 | 2023 | 2024 | |
| Positive Change Composite Net | 51.9 | 48.2 | -29.9 | 18.7 | 2.5 |
| MSCI ACWI | 5.7 | 25.1 | -3.7 | 11.9 | 20.6 |
| 1 year | 5 years | 10 years | Since inception* | |
| Positive Change Composite Net | 2.5 | 13.9 | N/A | 16.8 |
| MSCI ACWI | 20.6 | 11.4 | N/A | 11.1 |
*Inception date: 31 January 2017.
Source: Baillie Gifford & Co and MSCI. Returns have been calculated by reducing the gross return by the highest annual management fee for the composite.
Past performance is not a guide to future returns.
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