CFS launches global stewardship fund with Baillie Gifford
Colonial First State (CFS) has announced an expansion of its strategic Alliance Partnership with global investment management firm Baillie Gifford with the launch of the Baillie Gifford Global Stewardship Fund.
The fund would aim to provide investors access to a stock-driven global portfolio that combines elements of stewardship, governance, and specialist regional expertise to invest in responsible growth businesses.
The global partnership between CFS and Baillie Gifford commenced over a decade ago when CFF appointed Baillie Gifford as an investment manager within CFS’ FirstChoice Multi-manager portfolios.
In 2018 CFS launched in Australia the Baillie Gifford’s Long Term Global Growth Fund (LTGG). CFS’ general manager of investments, Scott Tully, said: “The fund’s impressive performance track record is achieved by a purely stock-driven global equity approach, where the team focuses on high conviction investing for the long term.
“The new Baillie Gifford Global Stewardship offering employs this same high conviction, bottom-up approach, while also seeking out responsible growth stocks that have well-aligned management.”
According to Baillie Gifford’s partner, Anthony Tait, the partnership would give the firm the opportunity to leverage CFS’ distribution footprint and knowledge of the Australian intermediary market.
Performance of Baillie Gifford Long Term Global Growth fund over one year to 30 September, 2019 versus the ACS Equity- Global sector.
AUTHOR
Oksana Patron
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
