Baillie Gifford changes remit and manager on Income fund

Baillie Gifford has converted its Income fund to a new globally-focused product.

The Edinburgh-based manager has also renamed the fund the Baillie Gifford Global Income fund and changed manager from Patrick Edwardson to Dominic Neary. It has also cut initial charges on the product. All changes took place on 1 March. Neary will invest principally in global equities, but may look at convertibles and fixed and floating rate debt instruments from time to time. Until 30 June, class A shares of the fund will carry a reduced initial charge of 3%, cut from 5%. The annual management fee for this class is 1.5%. Ken Edwards, Baillie Gifford's head of intermediary sales...