Baillie Gifford rides to 50% growth as big bets cash in
Baillie Gifford s Stuart Dunbar
When a money manager records 54% growth in assets under management in just one year, huge inflows or M&A activity are typically identified as catalysts.
But for Baillie Gifford Overseas Ltd., neither was the case. Rather, for the Edinburgh-based manager predominantly running equities at 92% of total AUM as of Dec. 31 big bets on longtime holdings of technology and high-growth stocks paid off. Assets grew to $430.9 billion as of Dec. 31, with worldwide institutional AUM up 48% to $355 billion. Also somewhat unusually for a large money manager these days, the firm does not offer exchange-traded funds.
Vanguard Announces Advisory Changes for Two Growth Funds
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VALLEY FORGE, Pa., March 1, 2021 /PRNewswire/ Vanguard today announced plans to modify the investment advisory arrangements of the $45.5 billion Vanguard U.S. Growth Fund and $1.2 billion Vanguard Variable Insurance Funds Growth Portfolio. Jackson Square Partners, LLC will no longer serve as an advisor to the funds. The portion of the U.S. Growth portfolio formerly managed by the firm (approximately 13% of fund assets) has been equally apportioned to existing managers Jennison Associates LLC, Wellington Management Company LLP, and Baillie Gifford Overseas Ltd. Wellington Management will serve as the sole advisor to the VVIF Growth Portfolio.