Toby Ross (pictured) has stepped back from his role as co-manager of the £893m Baillie Gifford Scottish American Investment Company (Saints).
In the trust’s annual results released this morning (15 February), the Saints board said Ross would be standing down to focus on his other responsibilities at Baillie Gifford.
Ross is a named manager on a variety of global and sustainable growth strategies, including the £1.1bn Baillie Gifford Responsible Global Equity Income fund.
He joined the Edinburgh-based asset manager in 2006 and has co-managed Saints alongside James Dow since 2017. Dow will continue to run the trust’s portfolio alongside deputy manager Ross Mathison.
Saints returned 11.8% in 2023, underperforming its FTSE All-World Index benchmark which was up 15.7% over the year.
The global equity income trust has returned 53.3% over the last five years against the sector average 50.7%, according to FE Fundinfo data, while it currently trades at an 8.3% discount.
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