Baillie Gifford's EM Growth AUM falls 15% following soft closure

Baillie Gifford Emerging Markets Growth has shrunk by 15% following poor performance since the group announced plans to soft-close the fund.

The fund’s value stood at £1.1bn at the end of February, but just over two months later assets under management had dropped to £869m, according to Morningstar. Baillie Gifford decided to cap the fund, run by head of global emerging markets Richard Sneller, on concerns it may face liquidity issues after it passed the £1bn mark. A spokesperson for Baillie Gifford said the outflows over the past three months are down to the trust’s bottom-quartile performance since the cap was implemented. “The value of the fund has fallen in correlation with performance suffering since the sta...