Fund selectors often overlook small vehicles, but they carry a number of benefits according to managers. Joanna Faith finds out why bigger is not always better.
The managers of two Baillie Gifford investment trusts have significantly slashed gearing in the view growth prospects in the UK market are subdued for the rest of the year.
Baillie Gifford's Sarah Whitley says companies seem to be under-promising and over-delivering following the earthquake.
Baillie Gifford Emerging Markets Growth has shrunk by 15% following poor performance since the group announced plans to soft-close the fund.
Baillie Gifford's £2.5bn Scottish Mortgage investment trust's share price grew 22% over the past year, largely driven by its exposure to technology, according to the deputy manager.