Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a726907

Baillie Gifford fund attracts £2bn nine months after soft-closing

by Robert St George on Jan 13, 2014 at 12:09

Baillie Gifford fund attracts £2bn nine months after soft-closing

The Baillie Gifford Diversified Growth fund has grown by £2 billion since soft-closing last year.

The fund of funds now contains £5.2 billion, despite its soft closure at £3 billion in March.

James Budden, Baillie Gifford’s marketing and distribution director, told Wealth Manager that the flows had come from ongoing contributions from pension funds; Diversified Growth is otherwise closed to new money and is not available on platforms.

‘We gave notice that the fund would be closing when it was about £3 billion,’ said Budden. ‘We had money in the pipeline promised which took it up to £5 billion. The fund is now closed except for regular pension contributions from existing clients.’

Diversified Growth is managed by Patrick Edwardson (pictured) and Mike Brooks, both of whom are + rated by Citywire. Since inception in 2009, the fund has returned 56% compared with an average of 34% from its IMA Specialist sector. Over the past three years, it also boasts the third best Sharpe ratio and risk profile in its 100-strong Mixed Assets category.

The fund invests heavily in other Baillie Gifford products, with + rated Steven Hay’s Emerging Markets Bond fund the current top holding, although it also uses other groups’ funds and buys securities directly, such as a gold ETF and gilts.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Long time coming: is the recovery here to stay?


Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.

Today's top headlines

More about this:

Look up the funds

  • Baillie Gifford Diversified Growth C Acc
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Baillie Gifford Emerging Markets Bond C Acc
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Look up the fund managers

  • Patrick Edwardson
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Mike Brooks
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Steven Hay
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet