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Baillie Gifford manager confirms retirement

Baillie Gifford manager confirms retirement

Michael MacPhee, manager of the £73 million Mid Wynd International Investment Trust, has announced that he will retire on 30 April 2014.

The trust’s board stated that it was in discussions with Baillie Gifford about the appointment of a successor.

Over the past five years, Mid Wynd International has returned 69% compared with 48% from the FTSE World index. Through the rally of the past 12 months, though, it has lagged the index with a return of 8% against the benchmark’s 20%.

The top holdings in his predominantly mid cap portfolio are currently IP Group, which commercialises universities’ intellectual property rights, and Finnish lift manufacturer Kone.

MacPhee (pictured) graduated from Oxford University in 1986 as a lawyer before joining Baillie Gifford in 1989, initially focusing on European equities. He headed that team until 2008, and has managed Mid Wynd International since 1998.

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