12 April 2018 - Baillie Gifford has announced that, on 1 May 2018, it is changing the name of the Baillie Gifford Corporate Bond fund, which is on the Chelsea Core Selection, to Baillie Gifford Strategic Bond fund.
Co-manager, Torcail Stewart, said: “The fund has followed the same effective income generating investment philosophy since its inception in 1999 and this will not change. The name more accurately reflects our strategic approach to asset allocation and bond selection and, under the banner of the Baillie Gifford Strategic Bond fund, we hope our clients will continue to benefit from the attractive proposition of top quartile performance delivered with a bottom quartile fee.”
Baillie Gifford has a long-standing reputation when it comes to fixed income, and this fund, run by Torcail Stewart, Stephen Rogers and Lesley Dunn, is a collection of their best ideas. They have the ability to invest globally, gathering a portfolio of investment grade and sub-investment grade corporate bonds. They use bottom-up analysis in their stock-selection driven process, which is about assessing each bond on its own merits and they don't waste much time considering macroeconomic factors or future interest rate movements.