Baillie Gifford & Co has reopened its doors to UK segregated mandates.
The firm had introduced a moratorium on pitching for new UK segregated mandates in November 2000, following £2bn worth of new business during last year.
The decision to close for new business was taken to ensure that the firm was able to continue to provide the highest standards of service to its UK clients and to ensure that new accounts were firmly established.
Colin Neilson, marketing director at Baillie Gifford, said: “Active investment management is not a production line. Adding value for our clients means sustainable investment returns and service, not just mandate wins. As an independent firm we can choose to do the right things for our clients and our staff.”
By Janet Du Chenne
This week's edition of Professional Pensions is out now.
Nearly 60% of UK employers consider defined contribution (DC) master trusts to be the "most suitable" pension fund for their employees, according to research by Buck.
Companies which have tried to dodge their pension duties by changing their identities are being "hunted" by The Pensions Regulator (TPR) in a crackdown on non-compliance with auto-enrolment (AE).
Removing liquidity restrictions would enable DC funds to capitalise on the potentially higher and safer returns that DB schemes have benefitted from, says Patrick Marshall.