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Flash update: Keystone Investment Trust

With the board announcing that Baillie Gifford will be taking over KIT, we look the new approach focusing on positive change…
Kepler Trust Intelligence
Updated 07 Dec 2020
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This is a non-independent marketing communication commissioned by Baillie Gifford. The report has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the dealing ahead of the dissemination of investment research.

Keystone Investment Trust released its annual results today, and also announced that, subject to contract and to shareholder approval, Baillie Gifford will be taking over the management of the trust from Invesco.

Having identified what they believe to be challenging structural trends for the existing investment strategy, the board had begun to question “whether a UK focused mandate enables investors to capture the most compelling investment opportunities or makes best use of the company’s investment trust structure”. As such, they have seen fit to explore a change of approach, shifting to a global all-cap strategy run by the Baillie Gifford ‘Positive Change’ team...

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