Baillie Gifford soft-closes £3bn Diversified Growth fund

Baillie Gifford has moved to soft-close its Diversified Growth fund in order to protect performance, following a surge of inflows in the past year.

The fund, headed up by Patrick Edwardson and Mike Brooks, has been closed to new investors after assets near to £3bn. In the past year assets have swelled from £877m to £2.9bn, with the appeal of multi-asset strategies in high demand. "The fund has been closed to new investors, but existing investors will still be able to top-up investments, "said a spokesperson for Baillie Gifford. There will be no changes to the fund's charging structure, the group added. The fund's retail share class carries an ongoing charge of 1.67%. It invests in a broad range of asset classes including...