Baillie Gifford reduces management fee on American fund

Follows fee cuts on other products

Baillie Gifford has cut the annual management fee on its £502m American fund, effective from 1 January.

The fee for class B shares of the fund, which is co-managed by Gary Robinson, Helen Xiong and Tom Slater, has been reduced from 0.65% to 0.5%.  James Budden (pictured), director of retail marketing and distribution at Baillie Gifford, said: "We want our American fund to be as competitive as possible. Received wisdom has it that active management does not work in the US market given its supposed efficiency. "We happen to believe the opposite can be true, and by cutting our fee on this fund we are giving ourselves and its investors a greater chance of beating the index over the long ter...