Baillie Gifford joins peers in transferring £1.3bn IT schemes to HL

Investment trust savings scheme

clock • 1 min read

Baillie Gifford has joined other asset management firms in transferring its investment trust savings schemes to Hargreaves Lansdown.

The Edinburgh-based asset manager said following a review it is to transfer £1.3bn in funds under management, which sit in its ISA, Share Plan and Children's Savings Plan, to the Hargreaves Lansdown as it was in "the long-term interests of the plan holders" to be served by a specialist investment platform. The move involved over 21,000 plan holders and follows in the footsteps of J.P. Morgan Asset Management, which announced it would transfer ISA clients to Hargreaves last week, while in January the boards of the £1.7bn Witan Investment Trust and Witan Investment Services agreed to trans...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment Trusts

FCA and government lift investment trust cost disclosure requirements as they plan reforms

FCA and government lift investment trust cost disclosure requirements as they plan reforms

Legislation will be laid ‘as soon as possible’

Cristian Angeloni
clock 19 September 2024 • 2 min read
Investment trust sector rejoices 'seismic' changes to cost disclosure rules ending 'years of pain'

Investment trust sector rejoices 'seismic' changes to cost disclosure rules ending 'years of pain'

A year after first called for in parliament

Eve Maddock-Jones
clock 19 September 2024 • 4 min read
Witan merges with Alliance Trust to form £5bn investment trust

Witan merges with Alliance Trust to form £5bn investment trust

UK’s largest investment trust merger announced

Jenna Brown
clock 26 June 2024 • 1 min read