Manager Changes at Premier and Baillie Gifford
New skippers at Premier Dividend and Baillie Gifford Income.
At Baillie Gifford, Andrew Millington, manager of the Baillie Gifford Income fund, has been replaced with Patrick Edwardson. Millington will be leaving the firm having worked there for four years. Edwardson is a Partner in the firm and a long-serving member of Baillie Gifford’s investment team. He is a senior member of the UK equity team and worked closely with Millington in the last year. The fund has struggled in the last three years relative to its peers Morningstar UK Large-Cap Value Equity category, and also in absolute terms – the fund shed 0.8% of its value each year on an annualised basis compared with a gain of 1.9% for its average category rival.