Baillie Gifford has renamed one of its bond funds and halved the annual management charge.
The fund group said in January the Baillie Gifford Worldwide Global Credit fund became the Baillie Gifford Worldwide Global Strategic Bond fund.
It also cut the AMC for the B share class on the Dublin Ucits fund from 0.45% to 0.225% for three years from 15 January.
The €274m (£237m) fund is managed by Rob Baltzer and Torcail Stewart. It was launched in July 2012 under Baltzer’s remit before Stewart joined the fund at the end of December 2017. It invests in diversified portfolio of primarily corporate bonds with the aim of outperforming the Bloomberg Barclays Global Credit Index.
Baillie Gifford partner responsible for income strategies Jan Oliver said: “The name change clarifies the investment proposition of the fund and its strategic allocation to both high yield and investment grade bonds. It also aligns the fund more closely with our popular UK Oeic Baillie Gifford Strategic Bond.
“We hope that a 50% cut in management fees will be beneficial to its current and potential client base.”
