Baillie Gifford has said it will soft close its £3.2bn Diversified Growth fund to protect the managers’ investment strategy.
The company said the fund, which is managed by Patrick Edwardson and Mike Brooks, has recently grown after “attracting significant funds”.
Existing Baillie Gifford clients will still be able to invest in the fund at present but it will be closed to new investors. It added there would be no changes to the charging structure.
The fund, which sits in the IMA Specialist sector, has returned of 25.8 per cent in three years to March 1, according to FE Analytics.