Baillie Gifford re-opens £6.2bn Diversified Growth Fund

Baillie Gifford's current Edinburgh HQ

Edinburgh-based investment giant Baillie Gifford announced it will re-open its £6.2 billion Diversified Growth Fund to new investors and lower the fund’s annual management fees, with effect from July 1, 2021.

The fund was closed to new investors in 2013 after it had attracted “significant funds.”

“The Baillie Gifford Diversified Growth Fund, which is managed by James Squires, David McIntyre, Scott Lothian, Felix Amoako and Nicoleta Dumitru, invests across a broad range of asset classes to deliver capital growth with low volatility,” said Baillie Gifford.

“The fund was launched in 2008 and grew rapidly leading to its closure in 2013 on capacity grounds relating to various asset classes such as insurance linked securities.

“With markets having grown significantly, the managers now believe there is sufficient headroom to re-open the fund.

“The £6.2bn Fund will see a reduction in the fee on Class B shares from 0.65% to 0.55%.

“The move marks the thirteenth occasion Baillie Gifford has reduced fees across one or more of its range of funds and investment trusts since 2013.

“Most recently, this includes the £731.7m Global Income Growth Fund and the £241m Baillie Gifford Responsible Global Equity Income Fund, as well as the £879.6m Scottish American Investment Company (SAINTS) (before deduction of borrowings).”

James Budden, Director of Marketing and Distribution at Baillie Gifford, says: “We aim to be competitive on fees as they are the only element of investment returns which can be guaranteed.

“We regularly review the costs associated with our funds to ensure they remain fair and reasonable.

“This latest fee reduction is part of our continued commitment to provide investors with value for money.”

With 1,442 staff and assets under management of £324 billion, Baillie Gifford is headquartered in Edinburgh and has offices in Buenos Aires, Dublin, Frankfurt, Hong Kong, Krakow, London, New York, Shanghai, Toronto and Zurich.

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.