Baillie Gifford

Investment trust veteran Douglas McDougall will step down as chairman of James Henderson's Law Debenture trust in April after 15 years of service.

Former Baillie Gifford European small-cap manager David Walton has joined Hargreave Hale to assist Giles Hargreave across his Marlborough small-cap unit trusts and the firm's VCT products.

James Anderson, manager of Baillie Gifford's £2.1bn Scottish Mortgage investment trust, is stepping down from the position for six months.

ICYA

AWARDS

A number of leading asset managers have introduced premium prices on popular products and specialist mandates ahead of the move to unbundled pricing next year.

Investment trust providers are coming under pressure to reduce annual management charges after being undercut in certain sectors of the market by OEICs and unit trusts.

Joe Faraday and Tom Record have stepped down from their roles as co-managers on two Baillie Gifford Asian funds.

High yield bond investors will face challenges in 2013 as companies take advantage of market conditions to issue lower-yielding debt.

Ken Edwards, the well-known IFA sales head who retired from Baillie Gifford in 2011, has joined Enterprise Investment Scheme (EIS) provider Calculus Capital.