Baillie Gifford adds portfolio turnover figure to fund factsheets

Figure currently ranges between 5%-33%

Baillie Gifford will publish an annual portfolio turnover figure on its retail fund factsheets from next month.

The figure measures the percentage of the portfolio a fund manager replaces on an annual basis, with a low annual turnover figure typically indicating a long-term investment approach, according to the group.  As of 31 October, the annual turnover for Baillie Gifford funds ranged from 33% for the Baillie Gifford American fund to 5% for the company's Global Discovery fund. Baillie Gifford adjusts fees on £200m Shin Nippon trust James Budden (pictured), director of retail marketing and distribution at Baillie Gifford, says: "Well documented research shows that managers with a high act...