Scottish fund manager Baillie Gifford has received a major boost after being appointed to manage two more funds for US-based group Vanguard.
It has been appointed to manage Global Equities for the Û6.9billion Vanguard Global Equity Fund and to manage US Equities for the Û996million Vanguard Growth Equity Fund.
The firm has been advising Vanguard on part of its Û18.5billion International Growth Fund and the Û1bn International Portfolio of the Vanguard Variable Insurance Fund since 2003 and now manages more than Û5bn of assets for Vanguard.
The firm, headquartered in Valley Forge, Pennsylvania, is one of the world&apos;s largest investment management outfits and is a major provider of company-sponsored retirement plan services.