Stephen Paice expects it may take a couple of years for the Baillie Gifford European Growth Trust to build up a 'game-changing' portion of unlisted holdings, as the fund manager continues to overhaul the portfolio.
Baillie Gifford took over the mandate from Edinburgh Partners in November 2019, with the board of the trust switching from a value bias to growth in the process. Paice said he and co-manager Moritz Sitte had sold every holding in the trust bar one - Ryanair - in the space of a couple of weeks, with the portfolio now replicating that of their Baillie Gifford European fund they also co-manage. Baillie Gifford 'still has work to do' to win over European Growth Trust investors However, Paice noted the closed-ended nature of the investment trust structure allows additional flexibility t...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
