Baillie Gifford
The latest research and outlooks in the ProAllocate library
- Equities
Following our noses: how does LTGG generate ideas?
Baillie Gifford's Long Term Global Growth team explains its deliberately unstructured, generalist approach to idea generation, favouring curiosity, open-mindedness and tolerance for failure over sector coverage. Access to private companies and on-the-ground research, including in China, helps the team identify rare outlier stocks that drive long-run returns.
- Equities
Seiko’s quality route to growth
Brian Lum of the Shin Nippon smaller companies trust argues Seiko's strategic shift from mass-market quartz watches to luxury branding could lift margins and establish it as a top-five global watch brand within decades.
- Thematics
Rethinking the future of healthcare
Scottish Mortgage's managers argue healthcare is being reshaped by converging technologies in AI, data and biology, making select innovative companies—public and private—attractive long-term growth holdings despite slow, uncertain clinical timelines. The healthcare innovation theme now represents about 7% of the trust's portfolio.
- Equities
Better genetics for healthier farms
UK Growth Trust's fund managers visited Genus's US genetics operations, highlighting its FDA-approved PRRS-resistant pig gene-edit and cattle breeding technology. They argue China's vast, modernising pork industry represents Genus's biggest long-term growth opportunity.
- Macro
Echoes from the first global crash
Author Liaquat Ahamed argues the 1873 global crash's prolonged aftermath stemmed from Bismarck's gold-standard shift, not the bubble itself, drawing parallels to today's AI infrastructure spending and oversized equity markets. He warns central banks risk repeating historic policy mistakes, whether tightening too aggressively or delaying action against inflation.
- Equities
What makes a growth company built to last?
The US Growth Trust argues that "enduring growth" companies — mission-driven, hard-to-replicate businesses such as United Therapeutics, Medline and RBC Bearings — offer diversification from its mega-cap tech and AI holdings. These firms combine specialist expertise, scale advantages and recurring revenue to sustain growth even when out of market favour.
- Thematics
China’s robotic rise: from cars to humanoids
China Growth Trust argues China's dominance in autonomous-vehicle supply chains gives it an edge in humanoid robotics, a market it estimates will reach $325bn by 2030, and says it invests in essential component makers rather than guessing which brand will win. The trust also notes that, unlike language models, robots need costly physical-world training data, making a ChatGPT-style breakthrough uncertain.
- Equities
How ASML became indispensable to AI
Scottish Mortgage explains why it backed ASML in 2013 despite uncertainty over its EUV lithography technology, arguing the breakthrough now underpins AI chipmaking and justifies the long-term bet. Baillie Gifford's Lawrence Burns highlights ASML's unique position as a de facto royalty collector on rising AI-driven chip demand.
- Equities
Bytedance: China’s coiled spring
Baillie Gifford's Schiehallion Fund argues ByteDance, its third-largest holding, is undervalued relative to Meta despite comparable scale, AI leadership and ecommerce innovation, positioning it as a 'coiled spring' ahead of a potential IPO.