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.

Related Fund Managers

Simon Edelsten
Simon Edelsten
95/340 in Equity - Global Equities (Performance over 3 years) Average Total Return: 44.18%
Alexander Illingworth
Alexander Illingworth
97/340 in Equity - Global Equities (Performance over 3 years) Average Total Return: 44.18%
Rosanna Burcheri
Rosanna Burcheri
96/340 in Equity - Global Equities (Performance over 3 years) Average Total Return: 44.18%
Michael MacPhee
Michael MacPhee
Citywire TV
Play Biotech Growth: we will ride out this storm

Biotech Growth: we will ride out this storm

Geoffrey Hsu of Biotech Growth Trust says the sell-off in biotechnology stocks represents a buying opportunity for long-term investors.

Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

Your Business: Cover Star Club

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

In a buyers’ market for off-the-peg discretionary management, self-funded start-ups begin at an inherent disadvantage

Wealth Manager on Twitter