Baillie Gifford to disclose turnover stats

Added 14th November 2016

Baillie Gifford is planning to disclose portfolio turnover on all its retail fund factsheets from next month.

Baillie Gifford to disclose turnover stats

Funds from the Edinburgh-based group boutique are currently showing turnover ranging from 5% on the Global Discovery Fund to 33% on the American Fund, as at 31 October.

On the investment trust range, Baillie Gifford Japan has a turnover of 7% while the broader, globally focused growth portfolio The Monks Investment Trust showed a turnover of 16.2%.

James Budden, director of retail marketing and distribution at Baillie Gifford, said: “Well-documented research shows that managers with a high active share, low portfolio turnover, a long investment horizon and who engage with company management are more likely to outperform indices after fees. We were one of the first firms to disclose our active share figures and now we are publishing turnover percentages for all our funds and trusts.”

UK Equity Alpha had annual turnover of 26.6% while Developed Asia Pacific had portfolio turnover of 22.5% over the period.

Budden added: “These numbers are important because they provide evidence that we take a credible long-term approach to investing in an increasingly short-term environment.

“Low turnover also points to lower trading costs which is good for investors who in turn need this kind of transparency if they are going to be able to separate the genuinely active from the index huggers and high turnover traders.”


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