Baillie Gifford Japanese Income Growth Rating Change
Whilst it is important to recognise that the Baillie Gifford Japanese Income Growth fund takes an approach that is growth biased, our conviction in the strategy has fallen following its recent performance profile, which has not met our expectations. In addition, we have noted decreasing levels of differentiation against the team’s flagship Japanese fund, where our conviction remains. Therefore, we have taken the decision to remove our A rating from the fund as we believe the Baillie Gifford Japanese fund is the purest representation of what the team are aiming to achieve.