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Baillie Gifford loses manager after blockbuster trust launch

Baillie Gifford loses manager after blockbuster trust launch

Baillie Gifford suffered a blow a few days after its blockbuster US trust launch, with one of the fund's three-strong management team quitting. 

Andrei Kiselev, who co-managed the US Growth trust alongside Gary Robinson and Helen Xiong, left the firm on 29 March according to the Financial Conduct Authority register, six days after the trust officially launched. 

Baillie Gifford confirmed the departure and said it would not be replacing him. The company did not provide any further details on the circumstances of his exit. 

Kiselev (pictured right) had been at the Edinburgh-based fund firm for a decade. He joined the business straight from university and was a member of its US equities team.

The US Growth Trust was Baillie Gifford's first investment trust launch in 32 years. It raised £173 million at its 23 March initial public offer (IPO), which while below its £250 million target, was still one of the biggest closed-end fund launches this year.  

In a Citywire video interview (see below) alongside Robinson 10 days before his departure, Kiselev outlined his vision for the trust.  

 

Kiselev also contributed to the Baillie Gifford American fund which will continue to be managed by Citywire AAA-rated Tom Slater, Kirsty Gibson, as well as Robinson and Xiong.

 

 

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