- Global Baillie Gifford trusts are still a long way from recovery
- The recovery hinges on interest rate cuts and earnings growth
- Monks has moved to a more balanced portfolio, while Edinburgh Worldwide faces a tough environment
Baillie Gifford has dialled down the risk in Monks Investment Trust (MNKS) in an attempt to turn around poor numbers – but all of the company's global strategies are still some way off recovering from the 2022 rout.
Despite posting better returns in the past six months, Baillie Gifford’s three global growth trusts, Scottish Mortgage (SMT), Monks and Edinburgh Worldwide (EWI), have performed well below their respective markets on a three-year basis, as the chart shows.