Baillie Gifford confirms a £100m year-on-year assets drop in 2022

The Edinburgh-based growth investor confirmed to Professional Adviser's sister title Investment Week that it has seen its assets drop by a third, from £336bn at the end of 2021 to £223bn at the end of 2022. Poor investment performance across its portfolios was the main driver behind the fall. Net client outflows accounted for around £20bn, £3.6bn of which was UK retail, the firm said.  Last year saw a reversal in the highly supportive macroeconomic environment that had benefited growth stocks over the past decade, and markets began to discount the impact of higher inflation and intere...