Baillie Gifford UK Growth trust performance has 'continued to disappoint'

'Mistake' over Just Eat

The Baillie Gifford UK Growth trust’s short term performance has “continued to disappoint” as headwinds have persisted for the UK economy.

In the trust's semi-annual results, it said that up to 31 October, net asset value per share total return fell 10.9%, compared to a 5.8% fall in the FTSE All-Share index. The share price total return for the same period was down 11.9%, while net revenue return per share fell from 2.28p to 2.22p compared to last year. Baillie Gifford European Growth trust NAV tumbles 40% The trust identified three main detractors to performance: Kitchen company Howden Joinery, car platform AutoTrader and clean air solution provider Volution. It said the market fear of recession had pushed sha...