Baillie Gifford appoints manager to multi-asset fund

Baillie Gifford appoints manager to multi-asset fund

Baillie Gifford has promoted former Kames fixed income investor Gregory Turnbull Schwartz to help manage its Multi Asset Income fund.

Mr Turnbull Schwartz replaces Gerald Smith as joint manager of the fund, who is to retire from the firm in the coming weeks.

Mr Turnbull Schwartz joined Baillie Gifford in 2016, having previously worked at Kames Capital.

He had already been involved with the management of the fund, which launched last year, but has now been elevated to named fund manager, alongside Steven Hay and James Dow. Mr Dow also runs the Scottish American Investment Trust.

James Budden, director of retail marketing and distribution at Baillie Gifford, said: "Gregory has been central to the investment team on the Baillie Gifford Multi Asset Income fund from day one.

"This new role will see him assume greater responsibilities for decision making and overall portfolio construction, using his considerable knowledge and experience to benefit the senior investment team."

The Multi Asset Income fund launched in August 2018 and since then has returned 2.3 per cent, while its peer group, the IA Mixed Investment sector, has lost an average of 1.1 per cent.