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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.

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Mike Brooks
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11/41 in Mixed Assets - Absolute Return GBP (Performance over 3 years) Average Total Return: 13.03%
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12/30 in Bonds - Emerging Markets Global Local Currency (Performance over 3 years) Average Total Return: -2.40%
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