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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.”



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India Election Update

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