Money Makers

Baillie Gifford UK Growth (BGUK) was managed by Schroders from its IPO in 1994 until June 2018, during which time it was known as Schroder UK Growth. The trust's directors appointed Baillie Gifford after a prolonged period of underperformance and a persistent discount. Although returns improved for a few years, the switch away from growth stocks in 2022 has seen BGUK underperform its benchmark in each of the last five financial years. A 100% performance-related tender offer at a 2% discount has been promised, measured over the five years to April 2029, and an additional continuation vote is du...