Baillie Gifford UK Growth eyes unlisted exposure of up to 10%

Company looks to leverage private business expertise

Baillie Gifford UK Growth trust is seeking approval to allow it to invest up to 10% of its portfolio in unlisted companies, with the management team hoping to capitalise on "a trend for growth private businesses in the UK" of staying private for longer.

The trust, which is managed by Iain McCombie and Milena Mileva, informed investors this morning (9 June) that it is seeking approval at its 5 August AGM to leverage Baillie Gifford's expertise in the unlisted space. Fidelity China Special Sits set to boost unlisted exposure after record year Baillie Gifford has assessed approximately 180 private UK businesses in the past two years, according to the trust's board, and invested in eight of them, two of which have subsequently listed and one has been subject to a takeover. "The assessment of private companies alongside listed coun...