The board of the £303.4m Schroders UK Growth Trust has taken a parting shot at fund manager Philip Matthews, who is exiting the asset manager, as the investment trust shifts management responsibilities to Baillie Gifford due to underperformance.
Baillie Gifford has refused to comment on why it did not disclose the exit of a named fund manager on its US Growth trust less than a week after launch.
Active managers have failed to live up to their promises in the US market, but by getting a few key ingredients right active management can be a powerful force for wealth creation, argues Gary Robinson, manager of the Baillie Gifford US Growth Trust.
Scottish Mortgage has signaled confidence in its portfolio of growth companies and tech names by increasing gearing on the £7.7bn investment trust 30%.
The Schroders UK Growth trust could experience a widening of the discount if investors using the company’s Isa scheme are forced to sell the investment trust when management transitions to Baillie Gifford.
The board of the Schroder UK Growth fund is dumping Schroders as its manager and replacing it with Baillie Gifford, citing continuous underperformance since inception as the reason behind the decision.
Baillie Gifford will rebrand its top-quartile Corporate Bond fund as the Strategic Bond fund after the retirement Stephen Rodgers, who departs this month.
Baillie Gifford has raised £173m for its US Growth Trust, it announced today, falling short of the £250m it set as a target.
The Baillie Gifford US equities team expects to get some of its unquoted stock picks wrong for its upcoming trust but argues that only a small number of exceptional growth companies matter.
The Monks Investment Trust has added another tier to its management fee charging structure to pass on economies of scale gained from its growing size back to investors.
Baillie Gifford bond manager Lesley Dunn has said the team can maintain top-quartile performance despite the exit of two heavyweights from the fixed income team and a rising interest rate environment.
Baillie Gifford has announced the initial public offering (IPO) of its US Growth trust.
