Baillie Gifford UK Growth to cut final dividend

Portfolio is now '100% as desired'

The board of Baillie Gifford UK Growth is calling for a five-year lifeline and a 35% reduction in final dividend payout, according to its final results.

Since taking over the management of the company from Philip Matthews - who was then at Schroders, Baillie Gifford's Iain McCombie and Milena Mileva (pictured) have overhauled the entire portfolio, replacing "most" of the company's previously held 49 companies and purchased 42 new holdings, shifting it to a higher-quality growth strategy. Chairman Carolan Dobson said "100% of the portfolio [is] now positioned as desired" but investors had to concede a 1% loss in net asset value (NAV) as a result. Schroders' Philip Matthews to join Wise Funds The results, to 30 April 2019 - only ...