Baillie Gifford has become the latest asset manager to join the Independent Investment Management Initiative (IIMI).
Formerly known as the New City Initiative, IIMI is a think tank representing boutique asset management firms.
Welcoming one of the UK’s largest asset managers into the initiative, IIMI CEO Dani Hristova (pictured) said Baillie Gifford’s membership prompted a discussion around the inclusion framework for member firms.
“As the industry evolves and our membership grows, it is important for us to be clear about the unifying characteristics of the members that IIMI represents,” said Hristova.
“Baillie Gifford’s interest in joining the IIMI prompted a valuable board conversation about how we look to define the types of businesses that we set out to represent and we recently published a criteria for joining.
“While large in size, the firm has many other key qualities that we recognise, and we feel that they are a great fit given their independence, active approach and commitment to stewardship. We look forward to working with Stuart and the wider team.”
See also: IIMI urges launching boutiques to consider corporate structure
Stuart Dunbar, partner at Baillie Gifford, added: “Although we may be too big to be truly a boutique, what’s important is that we aim to retain the characteristics of one – independently owned, investment team led, client-centric and focused on investment results before the growth of our own firm.
“We look forward to working with the IIMI as a voice for the fundamental principles of investing well in the real economy, for the benefit of both clients and society.”
