Baillie Gifford, the global investment management partnership, has lowered the annual management fee on the Baillie Gifford UK Equity Alpha Fund B class shares, with effect from 1 October 2021.

The annual management fee has been reduced from 0.55 percent to 0.47 percent. The £1 billion UK Equity Alpha Fund aims to outperform - after deduction of costs - the FTSE All-Share Index by at least 2 percent per annum over rolling five-year periods, by investing in a small selection of UK growth companies.

In addition, the annual management fee on the Dublin UCITS Baillie Gifford Worldwide UK Equity Alpha Fund B class shares has been similarly reduced from 0.55 percent to 0.47 percent.

James Budden, director of marketing and distribution at Baillie Gifford said: “We strive to be as competitive on fees as possible. Providing value for money is especially important in relation to UK equities where so many options are available to investors.”