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...“I’ve been very concerned about the share price performance and the discount, and trying to get people to understand that there is a structural reason for this.”...
...Baillie Gifford’s flagship £14bn trust, which invests in high-growth companies such as Nvidia and Tesla, has already bought back £353mn of shares in the past two years....
...“The share price is not where we want it . . . it is incumbent on us to adjust the business,” Bird said on Wednesday morning....
...But if the Baillie Gifford-managed investment trust was so concerned about share price-NAV discounts, perhaps the better move would have been to mark down the value of its huge private company holdings to...
...The board of Scottish Mortgage Investment Trust has announced a £1bn share buyback in an attempt to prop up its share price, as high interest rates and complex regulations continue to weigh on the investment...
...Tom Slater from Baillie Gifford, a top-15 Tesla shareholder, said this year would be “quieter” for Tesla sales, but added that investors were enthusiastic about the potential of its self-driving cars....
...Many trusts are required to hold a vote if the discount between its share price and its net asset value hits a threshold....
...Baillie Gifford’s Global Discovery and Japanese Smaller Companies funds were the top and tenth worst performing funds overall....
...The respective share prices have fallen much more than their net asset values. Differing approaches to valuing their private assets are the cause....
...“The doors have basically opened and we’re going to see a flood of new issuance until that window is closed again,” Aaron Gifford, sovereign credit analyst at T Rowe Price, said....
...Last week, he said it was “incumbent on us to adjust the business” in response to a share price that is “not where we want it”....
...Among those that have been suffering in the new regime is T Rowe Price, a $690bn active equities manager based in Baltimore, Maryland....
...At Baillie Gifford, Anderson and his team vocally opposed SoftBank’s takeover of Arm in 2016 but the asset manager couldn’t find enough shareholders to back an effort to keep Arm independent....
...They include Baillie Gifford’s flagship Scottish Mortgage Investment Trust, Bill Ackman’s £7.4bn Pershing Square Holdings, and the £2.5bn RIT Capital Partners trust....
...Options are a type of derivative that confer the right but not the obligation to buy an underlying asset at a certain price — a call — or sell an asset at a pre-agreed price — a put....
...The group is telling clients there is a dislocation between the operational progress of many growth companies and their respective share prices....
...“That doesn’t mean it’s going to be a silver bullet,” Gifford added....
...Its share price has also trailed an index of FTSE asset managers by 55 per cent over the period....
...Part of the pain has been sector-wide, with midsized managers finding themselves squeezed between juggernauts, such as BlackRock and Vanguard, and specialist managers, such as Baillie Gifford....
...Oddity Tech’s $487mn float in July came with $100mn from investors including Baillie Gifford and Franklin Templeton, while Cava pre-sold a similar amount to Capital Group and T Rowe Price as part of its...
...“Yes, there was quite a lot of damage from the share price falling last year but it could’ve been a lot worse,” he said. “Tesla’s actually been a giant success story....
...rate of price rises by year end....
...Since it was founded, Redwood has been backed by major investors including asset managers T Rowe Price, Baillie Gifford and Fidelity....
...Baillie Gifford’s flagship Scottish Mortgage Investment Trust hasannounced that its chair is stepping down just days after a rare public bust-up over corporate governance....
...Hedge funds have closed bets against Baillie Gifford’s Scottish Mortgage Investment Trust after a large fall in its share price, despite concerns over board governance and exposure to risky private companies...
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