Fund manager Baillie Gifford has hammered another nail in the coffin of low-cost investment trust saving schemes by announcing the closure of its long-standing ISA, share and children’s savings plans.
Following the example of many of its rivals, the UK’s largest investment trust group has decided it is too expensive to run the schemes and will transfer the business to stock broker Hargreaves Lansdown instead.
More than 21,000 Baillie Gifford investors who hold £1.3 billion in the firm’s investment trusts, such as flagship Scottish Mortgage (SMT), will move to the Bristol-based broker.
Disappointed with that, never saw it coming. 5 Grandchildren's investments - Will have to look at other options for their future
