Baillie Gifford's positive change team will on Thursday (11 February) take over the management of Keystone investment trust, which up until now has been managed by Invesco as a UK equity mandate, subject to shareholder approval.
Now to become a positive change vehicle, Keystone IT will be renamed the Keystone Positive Change investment trust and will adopt the same investment process as the firm's Positive Change OEIC - also headed up by Keystone's new managers Lee Qian and Kate Fox. On 7 December 2020, the board of the £182m Keystone IT said it had agreed to replace current manager Invesco with Baillie Gifford's positive change team, headed up by Fox and Qian. The mandate is the latest loss for Invesco, after Edinburgh IT and Perpetual Income & Growth both changed course, while it is Baillie Gifford's most...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
