Baillie Gifford UK Growth Trust (BGUK) has seen a marked fall in its NAV during the last 12 months at a time when inflation expectations have risen, bringing with them interest rate rises and, quite possibly, a recession. The derating of many growth stocks has been severe and BGUK’s managers say that selling has been indiscriminate, with good companies being hit as well as the bad. However, this provides an opportunity for long-term investors in their view. They have been reappraising their inve ....
