Only a 'handful' of managers to join Baillie Gifford and Fidelity in race for unlisted assets in trusts

Of the 11 trusts that changed or are looking to change their investment philosophy, four were asking to adopt unlisted exposure, with the remainder asking for an increase. Nine of the trusts are run by Baillie Gifford, with the remaining two run by Fidelity. Following the Baillie Gifford changes, the firm now has just two trusts, the Japan Trust and Scottish American, which do not have a philosophy that explicitly allows unlisted exposure. PA's sister title Investment Week understands that Baillie Gifford has no intention for those two trusts to invest in private assets. Fidelity, mea...