Baillie Gifford adjusts management fees on US Growth Trust

Came into effect 1 September

Baillie Gifford has reduced the annual management fee on its US Growth Trust, which now exceeds £1bn in assets.

From 1 September 2021, an annual management fee of 0.70% will apply on the first £100m of net assets, 0.55% on the next £900m of net assets and 0.50% for net assets in excess of £1bn. The US Growth Trust, which is co-managed by Kirsty Gibson and Gary Robinson, had been paying the managers 0.55% on all net assets over £100m. It follows a fee reduction on the £6.4bn Baillie Gifford Diversified Growth fund in July this year. Baillie Gifford adds Kirsty Gibson to US Growth Trust management team James Budden, director of marketing and distribution at Baillie Gifford, said: "The US Gr...