Baillie Gifford has confirmed that fund manager Gordon Brown has left the company, with management of his funds falling to Steven Hay.

Hay - head of the rates and currency team at Baillie Gifford - has become sole manager of the Active Gilt Plus fund and now manages the Baillie Gifford Cash fund

The rates and currency team head has managed the Active Long Gilt Plus fund since 2004 and also manages the Active Index-Linked Gilt Plus and Active Long Gilt funds.

He has also joined the Emerging Markets Bond fund alongside existing co-manager Sally Grieg.

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