Professional Documents
Culture Documents
Baillie Gifford Values PDF
Baillie Gifford Values PDF
Baillie Gifford Values PDF
BELIEFS
BAILLIE GIFFORD
October 2017
– Our Shared Beliefs Baillie Gifford
– We aim to add
value for clients,
support companies
and benefit society
through thoughtful
long-term investment.
CHARLES PLOWDEN
SENIOR PARTNER
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October 2017
WE BELIEVE THAT:
Our active investment management will add Our ownership structure is a key strength.
material value for clients over the long run. Being independent, private and wholly owned
Successful active investment management is not by working partners allows us to focus on
easy: it requires dedication, independent thought our clients and their investments. It helps our
and a long-term perspective. Our whole firm stability, motivation and culture and enables
should be built around this and we must remain us to take a long-term view in all that we do,
resolutely investment-driven in our outlook. including investing, client relationships and
staff development.
We put our clients’ interests ahead of our
own. Our firm must be an engaging and
Our actions must be honourable and beneficial progressive place to work.
for our clients, for the companies we invest in It is imperative that we attract and retain a
and for society. We aim for excellence in all diverse group of talented individuals. We need to
levels of client service and wish to be seen as a create opportunity and challenge while providing
trusted long-term partner and adviser. As they are support. We are committed to getting better at
important to our clients’ returns, we aim to keep everything that we do and remaining relevant to
costs low and transparent, including maintaining our clients’ needs as they evolve.
our fees at fair and reasonable levels.
Our actions and behaviours should support
We should be actively engaged shareholders society as a whole.
of the companies in which we invest. We seek to set a positive example as an
Our equity investment process is founded on investor, as an employer and within our own
the long-term ownership of growing businesses. communities. We aim to uphold and promote
We want to help these companies fulfil their the highest standards of service and professional
potential by encouraging them to invest in behaviours and to help enhance the reputation of
growth opportunities and to ignore the short- the investment industry.
term pressures of the stock market. We take the
responsibilities of ownership seriously, and will
be active stewards of our clients’ capital.
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– Our Shared Beliefs
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October 2017
We readily acknowledge that successful active While we believe our firm has a number of
management is not easy and that many, perhaps structural and cultural advantages which we are
even the majority, will fail. But that does not determined to retain and strengthen, we cannot
mean that the challenge is futile, merely that it relax. Continued success is far from certain. In
is difficult. Our experience, together with that particular, we need to ensure that the broader
of other similar firms, suggests that if we focus firm continues to support our investment efforts
on the right issues, then we can address many and minimises distractions. Across the firm
of the more prevalent difficulties and continue we must all continue to improve in everything
to add significant value to our clients, even afterthat we do and we can never stop learning; this
charging a reasonable fee for our efforts. includes the search for new and different sources
of investment insight as well as ongoing personal
The keys to success, we believe, are development. We must also work hard to ensure
independence of thought and a long-term we remain relevant to our clients’ requirements,
perspective. Our partnership structure and culture through maintaining close relationships which
encourage both aspects within our investment 5
should help us to anticipate their future needs.
teams and right across the firm. Thoughtfulness, Our investment capabilities will undoubtedly
cooperation, and a focus on quality rather than need to evolve over time, as they have in the
quantity are the hallmarks of our research past, but should always play to our core belief
process which focuses on future upside. Active and skills in active investment management.
management requires a willingness to take a
– Our Shared Beliefs
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– Our Shared Beliefs
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October 2017
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– Our Shared Beliefs
© Neil Hanna.
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– Our Shared Beliefs
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October 2017
Please remember that the value of a stock market Important Information Hong Kong
investment, and any income from it, can fall as well as rise
and investors may not get back the full amount invested. Baillie Gifford Asia (Hong Kong) Limited
百利亞洲(香港)有限公司 is wholly owned by
This document is intended to provide an overview of Baillie Gifford Overseas Limited and holds a Type 1
the firm and our philosophy. It does not constitute an licence from the Securities & Futures Commission of
offer or solicitation for the purchase or sale of securities Hong Kong to market and distribute Baillie Gifford’s
or provision of any investment services. Nothing in the range of UCITS funds to professional investors in
document should be construed as investment advice or a Hong Kong. Baillie Gifford Asia (Hong Kong) Limited
recommendation to buy sell or hold shares. 百利亞洲(香港)有限公司 can be contacted at 30/F,
One International Finance Centre, 1 Harbour View Street,
Baillie Gifford & Co and Baillie Gifford & Co Limited Central, Hong Kong. Telephone +852 3756 5700.
are authorised and regulated by the Financial Conduct
Authority (FCA). Baillie Gifford Life Limited is authorised Important Information South Korea
by the Prudential Regulation Authority (PRA) and regulated
by the FCA and the PRA. Baillie Gifford & Co Limited is a Baillie Gifford Overseas Limited is licensed with the
unit trust management company and the OEICs’ Authorised Financial Services Commission in South Korea as a
Corporate Director. cross border Discretionary Investment Manager and
Non-discretionary Investment Adviser.
Baillie Gifford Overseas Limited provides investment
management and advisory services to non-UK Professional/ Important Information Japan
Institutional clients only. Baillie Gifford Overseas Limited
Mitsubishi UFJ Baillie Gifford Asset Management Limited
is wholly owned by Baillie Gifford & Co. Baillie Gifford &
(‘MUBGAM’) is a joint venture company between
Co and Baillie Gifford Overseas Limited are authorised and
Mitsubishi UFJ Trust & Banking Corporation and Baillie
regulated by the FCA in the UK.
Gifford Overseas Limited. MUBGAM is authorised and
Persons resident or domiciled outwith the UK should regulated by the Financial Conduct Authority.
consult with their professional advisers as to whether they
Important Information Australia
require any governmental or other consents in order to
enable them to invest, and with their tax advisers for advice This material is provided on the basis that you are
relevant to their own particular circumstances. a wholesale client as defined within s761G of the
Corporations Act 2001 (Cth). Baillie Gifford Overseas
Important Information – North America
Limited (ARBN 118 567 178) is registered as a foreign
Baillie Gifford International LLC is wholly owned by company under the Corporations Act 2001 (Cth). It
Baillie Gifford Overseas Limited; it was formed in is exempt from the requirement to hold an Australian
Delaware in 2005. It is the legal entity through which Financial Services License under the Corporations Act
Baillie Gifford Overseas Limited provides client service 2001 (Cth) in respect of these financial services provided
and marketing functions in America as well as some to Australian wholesale clients. Baillie Gifford Overseas
marketing functions in Canada. Baillie Gifford Overseas Limited is authorised and regulated by the Financial
Limited is registered as an Investment Adviser with the Conduct Authority under UK laws which differ from those
Securities & Exchange Commission in the United States applicable in Australia.
of America.
Important Information – South Africa 15