 | |
| Type | Partnership |
|---|---|
| Industry | Investment management |
| Founded | 1908 |
| Headquarters | Edinburgh, Scotland, UK |
Key people | Andrew Telfer, Senior Partner |
| AUM | £223 billion (2022) [1] [2] |
Number of employees | 1,839 (2022) [2] |
| Website | bailliegifford |
Baillie Gifford & Co is an investment management firm which is wholly owned by partners, all of whom work within the firm. It was founded in Edinburgh, Scotland, in 1908 and still has its headquarters in the city. It has corporate offices in New York and London.
Baillie & Gifford WS was formed in 1907 [3] as a partnership between Lieutenant Colonel Augustus Baillie and Carlyle Gifford. Initially, it was a law firm but the financial climate of the time led to the business switching its emphasis to investment in 1908. In 1909, Baillie & Gifford created the Straits Mortgage and Trust Company Limited [4] to lend money to rubber planters in Malaya and Ceylon. [5]
The Straits Mortgage and Trust Company Limited was renamed The Scottish Mortgage and Trust Limited in 1913, [6] and this was followed by the introduction of several other investment trusts. Baillie Gifford’s clients and staff emerged relatively unscathed from the First World War, and the ‘Roaring Twenties’ gave Gifford many opportunities to expand the firm’s investment business. By 1927, the transition of Baillie & Gifford WS from a firm of solicitors conducting institutional investment business to a partnership managing investment trusts was completed with the creation of Baillie Gifford & Co. [7]
Baillie Gifford took over the management of Monks Investment Trust and two other related companies in 1931. [8] The firm continued to grow steadily until the outbreak of the Second World War. [9]
Baillie died in 1939 [10] and, the following year, Gifford was posted to New York on UK Government business. However, the firm survived the war and the troubled investment climate which followed. After a period of strong growth in the firm’s staff and client base, Gifford retired in 1965 [11] at the age of 84. Baillie Gifford emerged from a further period of economic weakness in the UK during the 1970s with its position enhanced by growth in the amount of money it managed on behalf of clients. [9]
Assets under management continued to grow strongly during the 1990s. The firm altered the management structure when it reverted to having joint senior partners. [12]
By the time of its centenary in 2008, Baillie Gifford had offices in New York and London in addition to its headquarters in Edinburgh, and was managing more than £50 billion. Clients included five of the seven largest pension funds in the US and the firm had also attracted significant levels of business from Japan and Australia, as well as continuing to make inroads in other parts of the Far and Middle East. [13] Baillie Gifford sponsors the Baillie Gifford Prize for non-fiction books. [14]
In 2015 Baillie Gifford opened an office in Hong Kong under the subsidiary Baillie Gifford Asia (Hong Kong) Limited 百利亞洲(香港)有限公司. [15]
The company launched the Baillie Gifford US Growth Trust in 2018 [16] and, after Baillie Gifford secured the management of Witan Pacific Investment Trust plc in 2020, the latter trust announced that would change its name to the Baillie Gifford China Growth Trust. [17] After a purchase on 31 March 2022, Baille Gifford became the largest shareholder of Ginkgo Bioworks. [18]
Investment trusts managed by Baillie Gifford:
Legg Mason was an American investment management and asset management firm headquartered in Baltimore, founded in 1899 and acquired by Franklin Templeton Investments as of July 2020. As of December 31, 2019, the company had $730.8 billion in assets under management, including $161.2 billion in equity assets, $420.2 billion in fixed income assets, $74.3 billion in alternative assets, and $75.1 billion in liquidity assets.
State Street Global Advisors (SSGA) is the investment management division of State Street Corporation and the world's fourth largest asset manager, with nearly $4.14 trillion (USD) in assets under management as of 31 December 2021.
SEI Investments Company, formerly Simulated Environments Inc, is a financial services company headquartered in Oaks, Pennsylvania, United States. The company describes itself as "a global provider of investment processing, investment management, and investment operations solutions". SEI provides products and services to institutions, private banks, investment advisors, investment managers, and private clients. Through its subsidiaries and partnerships in which the company has significant interests, SEI manages, advises or administers $1 trillion in hedge funds, private equity, mutual funds and pooled or separately managed assets. This includes $352 billion in assets under management and $683.3 billion in client assets under administration, as of 2019.
Baillie Gifford European Growth Trust is a large British investment trust dedicated to investments in companies operating in Continental Europe. The company was established in 1972 as Foreign & Colonial Eurotrust.
Scottish Mortgage Investment Trust is a publicly traded investment trust. It invests globally, looking for strong businesses with above-average returns. Scottish Mortgage is managed by Baillie Gifford & Co Limited, the Edinburgh-based investment management partnership. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Sun Hung Kai & Co. Limited （SEHK: 86 is an alternative investment company headquartered in Hong Kong. Since its establishment in 1969, the Group has owned and operated market-leading platforms in Financial Services. The Group invests across public markets, alternatives and real assets and has an established track record of generating long-term risk adjusted returns for its shareholders. Most recently, it has extended its strategy to incubate, accelerate and support emerging asset managers in the Asian region. It is also the major shareholder of a leading Consumer Finance firm, United Asia Finance Limited. The Group currently holds about HK$48.8 billion in total assets as at 31 December 2021.
Lieutenant Colonel Augustus Charles Baillie, DSO was one of the founders of Baillie Gifford, one of the United Kingdom's largest investment managers.
Thomas Johnstone Carlyle Gifford was one of the founders of Baillie Gifford, one of the United Kingdom's largest investment management firms.
Hugh Hendry is a Scottish hedge fund manager and podcaster.
Guosen Securities Company Limited is a Chinese state-owned financial services company headquartered in Shenzhen, China, with more than 70 branches and 11,500 employees nationwide. It has offices in 47 major cities in China including Shenzhen, Beijing, Guangzhou, Foshan, Nanjing, Shanghai, Tianjin and Hong Kong. Guosen Securities provides sales and trading, investment banking, research, asset management, private equity, and other financial services with both institutional and retail clients in China and Hong Kong. It also operates a trading platform called GuoXin TradingStation.
Conning is a global investment management firm serving the insurance industry. Conning supports institutional investors, including pension plans, with investment and asset management products, risk modeling software, and industry research. Founded in 1912, Conning has offices in Boston, Cologne, Hartford, Hong Kong, London, New York and Tokyo.
The Edinburgh Worldwide Investment Trust is a publicly traded investment trust listed on the London Stock Exchange. The Trust, also known as EWIT, invests in global stock markets. The Trust is managed by Baillie Gifford & Co Limited, the Edinburgh based investment management partnership. It is a constituent of the FTSE 250 Index.
The Baillie Gifford Japan Trust is a publicly traded investment trust. The Trust invests exclusively in Japan. The Trust is managed by Baillie Gifford & Co Limited, the Edinburgh-based investment management partnership. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The Pacific Horizon Investment Trust is a publicly-traded investment trust. The Trust invests in the markets of the Asia Pacific region and of the Indian Sub-continent. The Trust is managed by Baillie Gifford, an Edinburgh-based investment management partnership. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The Scottish American Investment Company is a publicly traded investment trust. It invests in a broad range of UK and international assets. The Scottish American Investment Company is managed by Baillie Gifford & Co Limited, the Edinburgh-based investment management partnership. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Baillie Gifford Shin Nippon is a publicly traded investment trust which invests in Japanese smaller companies. The Trust is managed by Baillie Gifford & Co Limited, the Edinburgh-based investment management partnership. It is listed on the London Stock Exchange.
Value Partners Group Limited is a Hong Kong-based asset management company.
Fidelity International Ltd, or FIL for short, is a company that provides investment management services including mutual funds, pension management and fund platforms to private and institutional investors. Fidelity International was originally established in 1969 as the international investment subsidiary of Fidelity Investments in Boston before being spun out as an independent business in 1980. Since then, it has continued to operate as a private employee-owned company.
Ginkgo Bioworks is an American biotech company founded in 2008 by five scientists from MIT, headed by Jason Kelly. The company specializes in using genetic engineering to produce bacteria with industrial applications for other biotech companies, saving other companies the cost of reproducing the initial stages of design in synthetic biology. The self-proclaimed "Organism Company" was one of the world's largest privately held biotech companies, valued at $4.2 billion in 2019. It raised $290 million in September and $350 million in October of that year. Ginkgo Bioworks went public on the New York Stock Exchange via a SPAC merger on September 17, 2021.
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