Baillie Gifford rebrands Global Stewardship Fund

Managed by a dedicated team of Toby Ross and Katherine Davidson

Baillie Gifford’s £616m Global Stewardship Fund is to be renamed Sustainable Growth Fund with effect from 31 March.

The investment proposition will remain unchanged, namely a focus on long-term growth with an emphasis on sustainability. The typical number of holdings, however, will drop to between 55-88 rather than the 70-100 at present.

According to the latest factsheet, it returned -35.1% over the 12 months to 31 December 2022, while its benchmark—the MSCI ACWI—lost just 7.6%. The fund’s biggest weighting is to the US (42.4%), followed by Japan (14.1%) and the UK (6.4%).

For the first time since it was launched in 2015, the fund will have a dedicated team, with Toby Ross (pictured) and Katherine Davidson at the helm. Ross has been closely involved in developing Baillie Gifford’s Responsible Global Equity Income strategy, where he continues to have decision-making input. He is set to become a partner in Baillie Gifford from May 2023.

Davidson joined Baillie Gifford in September 2022 after a 14-year career at Schroders where she was a specialist sustainability fund manager.

James Budden, director, marketing and distribution, said: “These changes represent an evolution and clarification of the investment proposition of this fund. It looks for companies that can sustain profitable growth for a long time, businesses which will prosper because they are a force for good.

Baillie Gifford Sustainable Growth brings these two aspects together, and Toby and Katherine are well-placed to deliver returns to investors in this way. Toby has been with Baillie Gifford since 2006 and Katherine has recently joined us with the express intention of managing this exciting sustainable growth approach.”

This article first appeared on Portfolio Adviser.

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Natalie Kenway

Natalie is global head of ESG insight for ESG Clarity and has been an investment journalist for 16 years. She won Editor of the Year at the Aviva Investors Sustainability Media Awards 2021, and was Winner...