Gary Robinson | Source | Investment Manager at Baillie Gifford

Speaking to Portfolio Adviser earlier this year lead manager Gary Robinson and his deputy manager Helen Xiong admitted they expected to get some unquoted picks wrong. However, Robinson said performance had been encouraging in a statement on Wednesday.

Gary Robinson, the joint manager of Baillie Gifford’s U.S. Equity Growth Fund, sees autonomous driving as one of “the most impactful” trends in tech; he thinks Alphabet’s exposure to that business through the Waymo self-driving car project is an increasingly compelling reason to own the stock.

Given the evolution of markets, though, MarketAxess backers think more growth will come. “We believe that a substantially larger proportion of bond trading will be conducted on electronic exchanges in the future,” Baillie Gifford fund manager Gary Robinson said in an email. The firm, which specializes in technology investments, is the biggest shareholder of MarketAxess with a 12% stake, according to S&P Global Market Intelligence.