As expected, Charles Plowden retired from subadvisor Baillie Gifford on May 3 and no longer serves as comanager of this strategy. Plowden, a nearly 40-year veteran of Baillie Gifford, served as comanager alongside Spencer Adair and Malcolm MacColl since Baillie Gifford inherited a slice of the fund’s assets in 2008. Consistent with Baillie Gifford’s measured and forward-thinking approach to succession-planning, Plowden gave advanced notice of his intentions, allowing the firm enough time to groom his successor. Helen Xiong, a key analyst who already has some portfolio management experience, has assumed his responsibilities, though Adair and MacColl will remain the only named managers on the fund.
Will VHGEX outperform in future?
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The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VHGEX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the VHGEX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of VHGEX’s parent organization’s priorities and whether they’re in line with investors’ interests.