CHANGE IN NAME – A CHANGE IN STRATEGY – IT’S ALL POSITIVE.
Baillie Gifford has relaunched the Keystone Positive Change Investment Trust, formerly known as the Keystone Investment Trust, as a positive change investment vehicle.
The trust had been managed by Invesco as a UK equity mandate, but will now invest with a dual objective of outperformance of the MSCI AC World Index and delivery of positive change in areas such as healthcare, education, social inclusion and the environment.
As at 31 December 2020, the trust’s assets were £239m.
It will be managed by Kate Fox and Lee Qian, assisted by senior impact analysts Michelle O’Keeffe and Ed Whitten.
he same team manages the £1.99bn Baillie Gifford Positive Change Fund, which launched in January 2017 and ranks 2nd out of 303 peers in the IA Global Sector over three years.
The Keystone Positive Change Investment Trust is being transitioned in line with the Baillie Gifford Positive Change Fund, but will differ from the fund over time by incorporating private company investments and some smaller listed holdings that fit with the positive change philosophy.
The trust will also be able to use gearing to enhance returns.
James Budden, director of retail marketing at Baillie Gifford, said: “We believe there will be strong demand from investors for an investment trust which aims to deliver investment outperformance, while having a positive impact on global development.
