Baillie Gifford to soft-close £1bn EM Growth fund

Baillie Gifford is planning to soft-close Richard Sneller's Emerging Markets Growth fund on 6 April as assets have passed the £1bn mark.

Sneller says the £1.1bn fund has reached the “tipping point” and the small-cap concentration is higher then he is comfortable with. The fund’s small-cap holdings are growing to a size which makes them difficult to sell, he adds, so capping the fund will help maintain liquidity.  The portfolio is already closed to institutional investors. It will remain on platforms but will be subject to the full initial and annual management charge.