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Baillie Gifford sees opportunities for value on both sides of Atlantic

Recent weaknesses in the US stockmarket have created increasingly attractive investment opportunities in selected sectors and stocks, according to fund manager Baillie Gifford.

It points to the performance of the S&P 500 companies, which showed increased profits this quarter year on year for the first time in six quarters, although it says that some companies are lowering their expectations for profit growth in the second half.

Baillie Gifford is also predicting positive returns in the UK despite recent market volatility. It argues that while the FTSE 350 fell sharply in July, economic and corporate data was only marginally disappointing and much of the volatility was caused by forced selling by pension funds and insurers.

Sales & marketing director Ken Edwards says: “It has been a hard few months for investors who have lost money, although, since the launch of Baillie Gifford&#39s intermediary distribution strategy in March 2002, our British 350 and American funds have remained top-quartile.

“The Baillie Gifford income fund has performed better than its peer group as the fall in the market has allowed genuine value to emerge in some companies&#39 shares.”

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