Baillie Gifford is closing 3 British Sovereign debt funds; they are the Baillie Gifford Active Gilt, the Active Index-Linked Gilt and Active Long Gilt funds run by Steven Hay. The strategy that counted with 30 years track-record will be liquidated at the end of March.
James Budden, head of retail marketing and distribution at Baillie Gifford, says:
“After carrying out a review of the future prospects of our Active Gilt fund range, and with the UK base rate likely to stay near record lows for the foreseeable future, we have concluded that it is in the best interests of shareholders to close these funds. They will close on or around 3 April 2020 with final income distribution paid within two months of the termination date.”