Baillie Gifford shakes up Pacific Horizon

Gush is likely to assume full control on 1 February 2009, with the Pacific Horizon board expected to invite Smith to become a company director at the time. Pacific Horizon invests in the Asia Pacific (ex Japan) region, as well as the Indian sub-continent. Smith has run the trust since 1995. The trust is down 5.4% over six months to 31 May, but 3.2% higher over one year. Gush joined Baillie Gifford in 2003, working closely with Smith on institutional emerging markets portfolios for the last two years. "The period of co-management should ensure a smooth transition of portfolio management...