Investors and advisers have backed the proposal to simplify the benchmark of the T. Bailey Growth Fund.
The proposal to change the benchmark of the fund to the IMA Global Growth Sector average won overwhelming support, with 94% of unit holders who voted, approving the plans.
T. Bailey Head of Sales and Marketing Philippa Gee said the change was prompted by requests from Independent Financial Advisers, who said it would make it easier to monitor the fund’s performance against its peers.
She said: “We listen carefully to advisers and act on feedback. Traditionally we have had a composite benchmark based around the fund’s global asset allocation.
“Advisers have told us they see the asset allocation as a big strength of the fund – and particularly its higher holdings in overseas regions – but they wanted a simpler measure of the fund’s performance and success.”
The T. Bailey Growth Fund has achieved top quartile performance in the sector since its launch ten years ago, delivering 38% against the IMA Global Growth Sector Mean of 8.5%, using data since launch on 13 December 1999 to 31 December 2009 (Source: Lipper).
Submitted by: Philippa Gee
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