IPO details outlined for new Baillie Gifford trust

Edinburgh investment firm Baillie Gifford said yesterday that the initial public offering (IPO) for its new Us-focused trust has formally opened.

Baillie Gifford US Growth Trust will focus on “exceptional growth companies” – both listed and unlisted, up to a combined maximum of 90 holdings, typically with 30 to 50 listed firms in the portfolio.

Shares will be made available to investors by way of a placing and an offer for subscription, including an intermediaries offer which will provide private investors with the opportunity to participate via most major platforms, including Interactive Investor and Alliance Trust Savings.

The offer will close at 3pm on Monday 19 March with the placing closing at the same time the following day.

Andrew Telfer, joint senior partner, said: “This is Baillie Gifford’s first investment trust launch since 1985. Our growing expertise in providing access to a range of exciting private companies should make this trust a highly attractive investment proposition.”