Baillie Gifford US Growth trust: 'We are dissatisfied with our five-year performance'

'Not the numbers we looked to deliver'

The managers of the Baillie Gifford US Growth trust have acknowledged they are “disappointed” with the trust’s five-year performance, but told investors now is not the time to alter its investment philosophy.

Since launching in March 2018, the trust's share price and NAV total return is up 44.1% and 90.4% respectively, compared to a total return of 102% for the S&P 500 index, the trust revealed today (10 August) in its results for the year ended 31 May. "We asked you to judge us over the long term, and as shareholders and managers of the Baillie Gifford US Growth trust, we are dissatisfied with our five-year performance," managers Gary Robinson and Kirsty Gibson said. "These are not the numbers we looked to deliver at the company's fifth anniversary." At IPO in March 2018, Baillie Gifford ...