Baillie Gifford has replaced the lead manager of the underperforming Pacific Horizon Investment Trust with a recent recruit from Pimco.
Ewan Markson-Brown, formerly senior vice president for emerging market equities at Pimco, the US investment giant, has been appointed as portfolio manager of the £125 million trust. He joined Baillie Gifford in September 2013.
‘The team based approach to stock-picking and the consistent investment philosophy and process, adopted by Baillie Gifford, ensures a smooth transition in portfolio responsibilities and investment style,’ said chair Jean Matterson.
Before joining Pimco, Markson-Brown was a portfolio manager covering Asian equities at Newton Investment Management.
Over the past three years Pacific Horizon has returned 11.2% on a net asset value basis, compared with 11.9% from the MSCI Asia Pacific excluding Japan index.
In September this performance was described as ‘unsatisfactory’ by Pacific Horizon’s chairman.