Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Baillie Gifford loses 33-year reign on Myd Wynd to Artemis

Baillie Gifford loses 33-year reign on Myd Wynd to Artemis

Artemis Investment Management is to replace Baillie Gifford as manager of the Mid Wynd International investment trust.

The decision was prompted by the retirement of Michael MacPhee, who had managed the trust for 15 years on behalf of Baillie Gifford.

The company had controlled the trust since its float in 1981, guiding it through a range of extremes, including the 1987 crash, the burst of the dotcom bubble, the exit from the ERM and more recently the credit crunch, to leave assets sitting close to a record high of £76.2 million as at the end of April.

Artemis trio Simon EdelstenAlex Illingworth (pictured) and Rosanna Burcheri will comprise the trust's new investment team.

The trio run the open ended Artemis Global Select fund, which has returned since 10.4% since its launch in June 2011 versus a 7.8% rise in the MSCI AC World index.

The fund is concentrated portfolio based on a bottom-up style where accounts-based analysis power stock selection.  

'In view of the retirement of the incumbent investment manager, Michael MacPhee, who has managed the company for over 15 years, the board has undertaken a thorough process to review available investment management options to the company,' the board told investors.

'The board wishes Michael well in his retirement and thanks Baillie Gifford for their management and secretarial services to the company since it floated in 1981.'

Mid Wynd, which is sitting on a 0.4% discount, has seen its net asset value rise by 79% over the last five years versus a 71% gain in the FTSE World index.  

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Liontrust ESG head says sustainable investment doesn't mean low return

Liontrust ESG head says sustainable investment doesn't mean low return

Peter Michaelis talks about ethical investment growth and where he sees future opportunites.

Play Are platforms the biggest barrier to wealth manager ETF take-up?

Are platforms the biggest barrier to wealth manager ETF take-up?

Citywire hosted a roundtable discussion to find out how and if wealth managers are using ETFs in their clients' portfolios and the challenges they face trading through different platforms.

Play SVM's Veitch on what's next for banks

SVM's Veitch on what's next for banks

SVM fund manager Neil Veitch is finding value in what he describes as unstable financials and talks through his favourite small caps.

Read More
Your Business: Cover Star Club

Profile: UBS' robo boss on what his tween can teach the industry

Profile: UBS' robo boss on what his tween can teach the industry

Co-head of UBS SmartWealth Shane Williams explains the simple life lessons missed by the first wave of robo pioneers

Wealth Manager on Twitter