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Baillie Gifford to axe minimum limit

Baillie Gifford plans to scrap the £250,000 minimum investment limit on its institutional share class to open it up to advisers, although some charges may increase.

The firm’s B share class has a minimum investment of £250,000 and an annual charge of between 0.25 and 0.75 per cent. It is considering raising the annual charge on a number of its bond funds to 0.5 per cent in the institutional share class.

It has three bond funds with annual charges under 0.5 per cent. The £249m high yield and £88m active gilt plus bond funds have an AMC of 0.35 per cent in the institutional share class. The £270m investment-grade bond fund has an AMC of 0.25 per cent.

Head of intermediary sales Grant Walker says: “Most of the funds are priced between 0.65 and 0.75 per cent but some bond funds are priced around 0.25 per cent. We may raise the charge to 0.5 per cent to bring them in line with other retail funds.”

Premier Wealth Management managing director Adrian Shandley says: “In terms of active fund management, 0.5 per cent is still a competitive charge.”



Mortgages for Business and Aldermore launch Keystone

Mortgages for Business and Aldermore Commercial Mortgages have launched Keystone Buy to Let Mortgages, a new buy-to-let mortgage funding line for professional property investors.    Mortgages for Business has teamed up with Aldermore Commercial Mortgages to develop an exclusive mortgage product range for professional landlords and property investors interested in securing both vanilla and complex […]


Tenet chairman steps down in board restructure

Tenet chairman Lord Robin Hodgson of Astley Abbotts has stepped down from the board amid a restructure which sees interim chief executive Martin Greenwood become executive chairman. The restructure also sees TenetConnect and TenetSelect managing director Mike O’Brien appointed as group brands director. Martin Greenwood says: ‘The board extends its thanks to Robin for his […]

India Election Update

What a difference six months makes. Speaking in September last year, we had warned of ‘excessive pessimism’ afflicting the market’s perception of India. Since then, responsible central bank policy from the Reserve Bank of India (RBI), alongside improving global growth, has meant that India’s macro environment is strengthening quickly. The current account deficit has shrunk, inflation is falling and the government has embarked on a heavy dose of much needed fiscal consolidation. As a result, the rupee has been one of the strongest global currencies this year while the market has touched all-time highs, rallying by more than 20 per cent (GBP) since September. This begs the question: are we now in a period of ‘irrational exuberance’? Not yet.


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