Baillie Gifford multi-asset funds switch sector

The IA's Targeted Absolute Return sector stipulates funds must be managed with the aim of achieving a positive return after fees in any market conditions within a clearly stated timeframe of up to three years. The £7.2bn Diversified Growth fund targets an annualised return over five years of at least 3.5% more than UK base rate, and the £1.8bn Multi Asset Growth fund aims to deliver 3.5% more than UK base rate, post fees. Both funds look to post positive returns over three-year periods, after deduction of costs, and annualised volatility of returns of below 10%. There will not be a...