The trust’s net asset value per share total return for the year to 30 September grew 8.3%, which lagged the total return of 20.5% for the FTSE Europe ex UK index.
Baillie Gifford took over management of the trust from Edinburgh Partners Limited in November 2019. Since then, its net asset value has grown 9.3%, compared to the index’s increase of 24.1%.
The trust’s discount has remained steady in the double digits over the last year, currently sitting at 14.7%, according to data from the Association of Investment Companies.
Baillie Gifford closes Investment Grade Long Bond fund