Baillie Gifford to shutter four bond funds and scrap international fixed income business

Prepares dozens of job cuts

Valeria Martinez
clock • 1 min read

Baillie Gifford is set to close four fixed income funds and focus on growing its fixed income business exclusively in the UK market, as the firm prepares a round of layoffs.

Investment Week understands the firm is closing three funds from its Irish UCITS fund range - the Worldwide Global Strategic Bond fund, Worldwide European High Yield fund and Worldwide Sustainable Emerging Markets Debt fund - and the UK OEIC Emerging Markets Bond fund. The four funds, which have less than £50m of external client assets, represent a small share of the £2bn direct fixed income assets managed by the firm for its UK client base. However, the total AUM of these funds stands at $978m, according to the most recent factsheets. As of the end of 2023, the firm manages £225.6bn ...

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