The decision is mainly due to the growth of the fund, which is managed by Baillie Gifford’s James Anderson and Tom Slater, where total assets are approaching £3bn.
Chairman John Scott said that further reductions “would be considered” if assets continued to grow.
“Both the board and managers are keenly aware that low charges have a major impact on long-term returns especially when compounding is taken into account,” he added.
The new charge will take effect from 1 April.
Total assets of the fund stood at £2.98bn on 31 January 2014, according to Baillie Gifford.
