Baillie Gifford, the global investment management partnership, is lowering the annual management fees on its Diversified Growth Fund, with effect from 1 July 2021. The fund will also re-open to new investors.
The Baillie Gifford Diversified Growth Fund, which is managed by James Squires, David McIntyre, Scott Lothian, Felix Amoako and Nicoleta Dumitru, invests across a broad range of asset classes to deliver capital growth with low volatility. The Fund was launched in 2008 and grew rapidly leading to its closure in 2013 on capacity grounds relating to various asset classes such as insurance linked securities. With markets having grown significantly, the managers now believe there is sufficient headroom to re-open the Fund.
The GBP6.2 billion fund will see a reduction in the fee on Class B shares from 0.65 per cent to 0.55 per cent. The move marks the thirteenth occasion Baillie Gifford has reduced fees across one or more of its range of funds and investment trusts since 2013. Most recently, this includes the GBP731.7 million Global Income Growth Fund and the GBP241 million Baillie Gifford Responsible Global Equity Income Fund, as well as the GBP879.6 million Scottish American Investment Company (SAINTS) (before deduction of borrowings).
James Budden, Director of Marketing and Distribution at Baillie Gifford, says: “We aim to be competitive on fees as they are the only element of investment returns which can be guaranteed. We regularly review the costs associated with our funds to ensure they remain fair and reasonable. This latest fee reduction is part of our continued commitment to provide investors with value for money.”
