UK-Based Baillie Gifford Takes the ETF Plunge Stateside

Another longtime mutual fund manager has found the call of ETFs impossible to resist. Baillie Gifford, the Edinburgh-based firm that manages $264 billion globally, filed for its first US exchange-traded funds last week. The actively managed suite of five products will include assets from existing mutual funds. It’s the latest industry holdout to make such a move, as sales have widely favored ETFs over mutual funds, particularly in active management. As part of the expansion, the firm recently hired Jamie ...