Baillie Gifford joins peers in transferring £1.3bn savings schemes to Hargreaves Lansdown

Investment trust savings scheme

Baillie Gifford has joined other asset management firms in transferring its investment trust savings schemes to Hargreaves Lansdown.

The Edinburgh-based asset manager said following a review it is to transfer £1.3bn in funds under management, which sit in its ISA, Share Plan and Children's Savings Plan, to the Hargreaves Lansdown as it was in "the long-term interests of the plan holders" to be served by a specialist investment platform. The move involved over 21,000 plan holders and follows in the footsteps of J.P. Morgan Asset Management, which announced it would transfer ISA clients to Hargreaves last week, while in January the boards of the £1.7bn Witan Investment Trust and Witan Investment Services agreed to trans...