The discount will come into effect on 1 November for both A and B share classes and will last for six months, to the end of April 2012.
The Baillie Gifford Global Income Fund changed its mandate from purely UK income to a global view in March last year. It is managed by Dominic Neary, and has £19.3m in assets under management.
The initial charge on A-class shares sold through intermediaries will be reduced by up to 5% to retail clients, effectively getting rid of the charge entirely; an initial charge of up to 3% remains for commission-based sales. The initial charge on B-class shares is being waived for both.
James Budden, director of retail marketing and distribution says: “It targets an above-market yield by investing in appropriately sized holdings rather than by setting minimum yield requirements. Currently the fund is yielding 4.6% and our discount will hopefully encourage more investors to take a look.”
