Baillie Gifford & Co was named Investment Week's investment trust group of the year at an awards cer...
Baillie Gifford & Co was named Investment Week's investment trust group of the year at an awards ceremony at the Savoy Hotel last week.
The group was commended by the judging panel for its dedication to the closed-end funds industry and the strength and consistency of its trust range.
It beat off challenges from Fidelity, Gartmore, JP Morgan Fleming, Invesco Perpetual, and Close Finsbury. In the high-profile UK trust of the year, the Capital Gearing trust managed by Cazenove Fund Management.
The award for outstanding achievement was given to the board of the Edinburgh Investment Trust, which demonstrated the independence of investment trusts by moving the management of the £996m trust from Edinburgh Fund Managers to Fidelity.
Not only did the move result in lower charges for investors in the trust, but the way in which the trust is managed has also changed. It is now managed using an internal manager of managers structure by Fidelity, having previously been managed along more traditional lines. The decision to move the trust after a period of underperformance against peers reflects the board's desire to woo a greater retail base for the trust .
For full coverage of the awards see page two.
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