External Investment Manager

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Baillie Gifford

We have appointed Baillie Gifford Overseas Limited as the Investment Manager to manage the equities portion of the Fund. Baillie Gifford Overseas Limited was established in 1983 and provides investment management and advisory services to mutual funds and a variety of private accounts, including accounts managed on behalf of corporate and public pension plan sponsors, endowments, foundations, sovereign wealth funds, and family office clients. Baillie Gifford Overseas Limited is wholly owned by Baillie Gifford & Co, which has been offering investment management services for more than 110 years. Baillie Gifford Overseas Limited will be responsible for investing and managing the equities portion in accordance with the investment objective of the Fund, the Deed and subject to the Guidelines.

Baillie Gifford, based in Edinburgh, Scotland, is one of the UK’s oldest independent fund management firms having been founded in 1908. Baillie Gifford are unique for a company of their size, being an independent partnership with no outside shareholders and unlimited liability to clients, for whom they invest US$254bn as at the end of September 2022. Their single focus is on providing outstanding investment returns and service for those clients. They are long-term active investors, not speculators, and have an investment philosophy which focuses on growth. As long-term owners of their own business, Baillie Gifford believe they have a culture which differentiates them from others, allowing them to take a very long-term view on everything that they do.