Investec remains 'comfortable' with Baillie Gifford US Growth 'buy' rating despite 120% rise since March

US Election could present 'better entry point'

Investec has said it "remain[s] comfortable" with its 'buy' rating on Baillie Gifford US Growth trust, but cautioned clients that market volatility around the US Election could present a better entrance point in the coming months.

In the 18 months since the trust floated, it has put in stellar performance, returning 152%, according to FE fundinfo - three times as much as that of the S&P 500, at a measly 52%. A large portion of those gains have come post-Covid, as the pandemic accelerates trends played in its portfolio. Since market lows on 18 March, Baillie Gifford US Growth has gained 120%. Despite this stellar performance, Investec analyst Alan Brierley said the trust's managers' "long-term, genuinely active growth philosophy represents solid foundations for superior long-term returns". Morningstar downgra...