Baillie Gifford UK Growth sells Jupiter on concerns over future prospects

Despite a focus on low turnover in the trust, co-managers Iain McCombie and Milena Mileva sold out of the Jupiter position completely in the six-month period "due to concerns over its future growth prospects", the report said. This was the only complete sale from the portfolio over the time period, while the team also initiated one new position in online apparel retailer, Farfetch. The team conceded that the last six months had been a "tumultuous" time for the UK stock market, but chose to stick to their long-term strategy of making few changes to the portfolio. Hedge funds up shor...