Inbound manager Baillie Gifford waives six months of fees on Schroder UK Growth

Will take up management from 29 June

Mike Sheen
clock • 2 min read

Baillie Gifford has agreed to waive around six months of management fees on the Schroder UK Growth trust, which it will assume control of from 29 June, the trust's annual report has confirmed.

Declining the £732,000 pay-out, the newly-named Baillie Gifford UK Growth fund will be co-managed by Iain McCombie and Milena Mileva, following the board of the trust's April announcement it would be ditching Schroders' Philip Matthews amid unsatisfactory performance. In the 12 months to 30 April, the trust produced a total return of 9.1%, surpassing the return of 8.2% for its benchmark, the FTSE All-Share Index, over the same period. Meanwhile its share price produced a total return of 15.0%. Schroder UK Growth board reveals 23% of shareholders may need to sell after Baillie Gifford ...

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