Baillie Gifford has appointed Mike Gush as co-manager on its £122m Pacific Horizon investment trust, with a view to replacing Gerald Smith early next year.
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 responsibilities," Baillie Gifford says.IFAonline
Slow progress in improving diversity
Share purchase deal with assets of £28m
Came into effect in January
Three examples of compensation rule issues
Buying in baskets