Baillie Gifford will promote Douglas Brodie to be a partner in the firm following the retirement of existing partner Robert Blaikie.
The company, which runs a number of open-ended funds and investment trusts, stated Mr Brodie will become a partner on May 1 2015, as Mr Blaikie, the firm’s head of trading, will retire on April 30 after 34 years with the company. This means the number of partners will remain at 40.
Mr Brodie joined Baillie Gifford in 2001 and is currently head of the global discovery investment team and manager of the £157.58m Global Discovery fund and the £248.59m Edinburgh Worldwide Investment Trust.
Andrew Telfer, joint senior partner at Baillie Gifford, said: “The promotion reflects Douglas’s proven ability to deliver strong investment returns for clients in our Global Discovery strategy, and the contribution made by his team in finding exciting growth stocks for the benefit of all Baillie Gifford’s clients.
“We thank Robert for his remarkable contribution over more than three decades with the firm, and have confidence in the strength and depth of our trading team, many of whom have spent their whole careers working with him.”
The Global Discovery fund was launched in May 2011 and has outperformed its Investment Association Global sector peers for the three years to January 15 with a return of 90.29 per cent compared with the sector average of 36.9 per cent.
Meanwhile the investment trust, which has John MacDougall as deputy manager, has outperformed its AIC Global sector peers across three, five and 10 years, according to data from FE Analytics, including a 10 year total return of 194.63 per cent.