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Baillie Gifford UK Growth looks to invest in private firms

9 th June 2021 8:00 am Baillie Gifford UK Growth Fund has amended its name to replace ‘Fund’ with ‘Trust’ in a bid to clarify the company is an investment trust. The company also hopes to obtain shareholder authority at its annual general meeting (AGM) on Thursday 5 August 2021 to permit it to invest up to 10% of total assets in private companies. The intention of the name change is to highlight the “different corporate structure and opportunity set when compared to an open-ended fund,” it said. Over the year to 30 April 2021, the company’s net asset value per share total return was 37.7% compared to a total return of 25.9% for the FTSE All-Share Index.

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