Baillie Gifford is planning to overhaul its £28.7 million European Smaller Companies Fund, Financial Times reports. The fund will be converted into a Global Discovery Fund, with a wider investment mandate, which will include global stocks.
The vehicle will not alter its current charging structure, adds What Investment. Douglas Brodie, who took over management of the small-cap fund at the beginning of 2010 from former manager David Walton, will continue to run the new fund.
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