Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

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

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 or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Patrick Edwardson
Patrick Edwardson
41/52 in Mixed Assets - Flexible GBP (Performance over 3 years) Average Total Return: 22.87%
Mike Brooks
Mike Brooks
42/52 in Mixed Assets - Flexible GBP (Performance over 3 years) Average Total Return: 22.87%
Steven Hay
Steven Hay
3/22 in Bonds - Emerging Markets Global Local Currency (Performance over 3 years) Average Total Return: 7.89%
Citywire TV
Your Business: Cover Star Club

Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

Wealth Manager on Twitter