James Anderson, manager of £2.2 billion Scottish Mortgage, is taking a back seat from the fund for six months.
Anderson has steered Scottish Mortgage towards the top of the global growth sector over his decade in charge, notching up a 439.2% gain in share price terms while beating both Lord Rothschild’s RIT Capital Partners and John Pennink’s British Empire.
Anderson, a well-known figure in the investment world, is taking a six-month sabbatical to write a book on growth investing. During his time away, Tom Slater, deputy manager on the trust, will take over his responsibilities.
Baillie Gifford said: ‘We can confirm that James Anderson, manager of Scottish Mortgage, will be taking a six month sabbatical from July. During the sabbatical, Tom Slater, deputy manager, will take charge of the trust.
‘James will return to his previous roles at Baillie Gifford on his return.’
Slater is by no means a newcomer to the trust, and has played a key role in the team since coming on board in August 2009.
Over the last three years, the trust is up 76.4% in share price terms, with performance in part being driven by its exposure to internet related stocks, including Google and Amazon.