The customer is always right

James Budden of Baillie Gifford on the important role for professional advisers in the investment trust universe.

One of the many nice things about working in the investment trust sector is the chance to engage directly with the investor. In other streams of asset management the fund manager is invariably dealing with an intermediary. While a relationship with a professional adviser is much treasured the opportunity to interact with the end investor first hand serves as a valuable education for managers normally restricted to steel and glass towers in the city. At Baillie Gifford around 30% of the equity of our eight trusts is held directly by individual investors. This equates to over £1bn in real ...