Update: Baillie Gifford set to take over Keystone IT amid name and objective change

Kate Fox and Lee Qian to replace James Goldstone

clock • 4 min read

Baillie Gifford's positive change team will on Thursday (11 February) take over the management of Keystone investment trust, which up until now has been managed by Invesco as a UK equity mandate, subject to shareholder approval.

Now to become a positive change vehicle, Keystone IT will be renamed the Keystone Positive Change investment trust and will adopt the same investment process as the firm's Positive Change OEIC  - also headed up by Keystone's new managers Lee Qian and Kate Fox. On 7 December 2020, the board of the £182m Keystone IT said it had agreed to replace current manager Invesco with Baillie Gifford's positive change team, headed up by Fox and Qian.  The mandate is the latest loss for Invesco, after Edinburgh IT and Perpetual Income & Growth both changed course, while it is Baillie Gifford's most...

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