News
- Home
- Investment Company News
- Gerald Smith replaced as manager of Monks
The Board of Monks has announced changes to the management of that fund. Gerald Smith is being replaced by Charles Plowden and he will be assisted by Spencer Adair and Malcolm MacColl as new deputy managers. The announcement says the change takes place with immediate effect.
The Trust will now be managed from Baillie Gifford’s Global Alpha desk. Charles Plowden, Spencer Adair and Malcolm MacColl are all Partners at Baillie Gifford and have been working together on the Global Alpha strategy since 2005. Charles is one of Baillie Gifford’s two joint senior partners. The team manages around £20bn for mostly institutional clients from around the world.
Baillie Gifford’s Global Alpha strategy is a long-term global equity strategy. Stock selection is entirely bottom-up with a focus on identifying attractive growth companies and holding them for the long term. The portfolio is both highly differentiated from the index and well diversified with around 100 underlying holdings. The Global Alpha team draws on the experience and insights of over 90 research analysts working at Baillie Gifford. The team is led by Charles Plowden, one of Baillie Gifford’s two joint senior Partners, supported by Spencer Adair and Malcolm MacColl, both of whom are Partners in the firm and have significant experience investing across the world’s equity markets. These three investment managers have full accountability for all portfolio decisions and have all been involved with Global Alpha since its inception in May 2005. The team also has two dedicated research analysts. Access to this strategy is closed to investors that are not existing clients of Baillie Gifford.
There will be no change to the existing Investment Management Agreement, the period of 6 months’ notice, or the annual management fee of 0.45% of total assets less current liabilities.
The Global Alpha strategy has made roughly double the returns of Monks over the last one, three and five years.
MNKS : Gerald Smith replaced as manager of Monks